Creative Capital Podcast 111: Buying Your First Multifamily Deal: Part 3

<p><span style="font-weight: 400;">Welcome back to the Creative Capital Podcast with Josh Ferrari! This No-Limit Minute Segment is Part 3 of a multi-part series about buying your first multifamily deal. I am going to take you through the step-by-step process of acquiring your first multifamily deal and share all the things you need to know before starting your journey. In this episode, I am going to talk about everything you need to know about preparing your PSA. I will share all the things you should include in the document, as well as what you have to remember when negotiating the PSA. Listen in!</span></p> <p><br /> <br /></p> <p><strong>[00:01 - 14:41] What to Include in Your PSA</strong></p> <p> </p> <ul> <li style="font-weight: 400;" aria-level="1"><span style= "font-weight: 400;">Bank deposits</span></li> <li style="font-weight: 400;" aria-level="1"><span style= "font-weight: 400;">Tenant estoppel letters</span></li> <li style="font-weight: 400;" aria-level="1"><span style= "font-weight: 400;">Credits for non-rent-ready units</span></li> <li style="font-weight: 400;" aria-level="1"><span style= "font-weight: 400;">Website, social media, and phone numbers</span></li> <li style="font-weight: 400;" aria-level="1"><span style= "font-weight: 400;">Force Majeure clause</span></li> <li style="font-weight: 400;" aria-level="1"><span style= "font-weight: 400;">Occupancy and collections</span></li> <li style="font-weight: 400;" aria-level="1"><span style= "font-weight: 400;">Add some extra days</span></li> <li style="font-weight: 400;" aria-level="1"><span style= "font-weight: 400;">Due diligence from the LOI</span></li> </ul> <p> </p> <p><strong>[14:42 - 38:59] Negotiating Your PSA</strong></p> <p> </p> <ul> <li style="font-weight: 400;" aria-level="1"><span style= "font-weight: 400;">Ask your lender about timelines</span></li> <li style="font-weight: 400;" aria-level="1"><span style= "font-weight: 400;">What to uncover during the early access period</span></li> <li style="font-weight: 400;" aria-level="1"><span st