How can strategic planning and thorough due diligence help real estate investors avoid costly mistakes when acquiring multifamily properties?

In this info-packed episode, expert real estate investor Veena Jetti shares invaluable insights on multifamily property acquisitions. Veena outlines key strategies for conducting comprehensive due diligence, structuring PSAs to protect buyers' interests, and setting up new acquisitions for success. From the importance of interviewing on-site staff early on to including specific clauses in purchase contracts, Veena provides tactical advice for smoothly navigating the acquisition process.

Veena Jetti is the Founding Partner of Vive Funds, a unique commercial real estate firm that specializes in curating conservative opportunities for investors. She has over a decade of real estate experience including overseeing the management of $1B+ in real estate assets. Her expertise includes driving corporate growth strategy, asset management, and business development derived from working for multiple Fortune 500 companies. Veena is also a Forbes Councils Member

Her background includes acquisition, syndication, and growth strategy for multifamily assets. She is often a panelist and speaker at various global conferences and radio shows. Veena is also a founder and past board member of a national non-profit organization. In 2017, she spent a lot of her time and focus on aiding the victims of Hurricane Harvey through coordinating emergency dispatch and rescue calls.

(00:00 - 2:21) Conducting Due Diligence

• Interview on-site staff early in the process to understand day-to-day operations
• Complete an in-depth lease audit to inform revenue optimization strategies
• Request immediate access to leases to accelerate underwriting

(2:22 - 5:33) Structuring PSAs for Risk Mitigation

• Restrict seller's ability to replace staff without buyer approval
• Control concessions and rental rates during closing period
• Build in buyer review period for new leases signed before closing

(5:34 - 9:00) Setting Up New Assets for Success

• Arrive quickly to take over day-to-day management and stabilize occupancy
• Implement data-driven lease optimization models to maximize NOI
• Establish win-win partnerships with brokers, lenders and vendors as deal sources

Quote:

"Your attorney should be able to word it correctly so that it protects you adequately." - Veena on structuring PSAs

Connect with Veena:

https://www.linkedin.com/in/veenajetti/

https://vivefunds.com/

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Connect with Lorren Capital, LLC. for syndicated multifamily investments, https://lorrencapital.com/.

To learn more about me, visit my LinkedIn profile, and connect with me.