@mannyawasom: Nobody gets excited about underwriting dumpster enclosures and fencing. But this is exactly why you walk the entire property during due diligence. You may spend months analyzing rents, occupancy, NOI, and returns then discover dozens of smaller capital items that weren’t obvious in the financials: Damaged fencing. Dumpster enclosures. Drainage issues. Exterior lighting. Railings. Sidewalks. Landscaping. Signage. Individually, they may not kill the deal. Add enough of them together and suddenly your CapEx budget is off by hundreds of thousands of dollars. This is why I don’t want a renovation budget that’s simply: Units × $15,000 = CapEx. I want to understand what we’re actually buying and what it’s realistically going to cost to execute the business plan. The expensive surprises are not always hiding in the units. Sometimes they’re sitting next to the dumpster. 📍 For more underwriting tips, visit: 🔗 msadatainsights.com/dealroom 🚨 For our latest investment opportunity, visit: 🔗 xsitecapital.com/montrose #Multifamily #Underwriting #DueDiligence #CapEx #RealEstateInvesting

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