Repairs, turnover work and carrying expenses need a place in the acquisition budget before a property changes hands. Don McClain, Founder of Medro Advisors, offers a concise planning exercise in his October 7 Tumblr post: list each cash need, its expected date, the supporting estimate and the confirmed funding source. For acquisition operators evaluating properties nationwide, the exercise can be adapted to the local costs and execution assumptions of each opportunity. The post also recommends moving an important expected receipt later in the forecast to see whether the resulting gap needs to be addressed before closing. Related reading: the forthcoming book FUNDED.
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