Underwrite the property.
Then make the decision.

Buying an investment.

Start with your acquisition criteria: property type, location, available equity, financing, and operating capacity. Bingham’s investment services include market review, cash-flow analysis, and scenario evaluation.

Read the numbers behind the offering.

Compare the seller’s presentation with leases, rent collections, operating records, and capital requirements. Keep in-place performance separate from the proposed business plan.

• NOI: Reconcile income and operating expenses to the records.
• Cap rate: Identify whether the quoted yield uses current or projected NOI.
• DSCR and debt yield: Evaluate verified NOI against the proposed debt service and loan balance.
• Cash flow: Include debt service, reserves, leasing costs, and the capital needed to execute the plan.

Test the downside.

Review vacancy, lease rollover, deferred maintenance, required improvements, and financing maturity. Test changes in income, expenses, borrowing terms, and the exit assumptions before committing capital.

Selling an investment.

Organize the rent roll, leases, operating history, and known property issues before going to market. Discuss pricing and positioning using documented income and comparable evidence.

Before you invest