Documents to Gather Apartments
(In order of importance)
Remember: Always request as few documents as possible. Never request something before it is needed.
To prepare a listing agreement we need:
- Rent roll (includes address of each unit, the room count, and the current rent. The name of the tenant is helpful but not required.)
- 2005 ACTUAL operating expenses.
- An old financial statement on each general partner is useful but is not required.
To obtain a formal proposal we need:
- Financial statement on each general partner.
- 2005 and 2004 Federal Tax Returns (all pages) on each general partner. If a 2005 tax return is unavailable we will need:
- 2005 W 2 statement or P&L statement.
- 2003 Federal Tax Return (all pages).
To obtain a loan commitment we will need:
- For PARTNERSHIPS-or LIMITED LIABILITY COMPANIES
- Partnership Agreement or Operating Agreement.
- Certificate of Limited Partnership (if applicable)
- 2005 and 2004 partnership tax returns (all pages). If 2005 is unavailable then we will need a P&L for 2005 and a copy of the 2003 return.
- For CORPORATIONS-
- Most recent balance sheet (net worth statement).
- 2005 and 2004 corporate tax returns (all pages).
- Articles of Incorporation.
- Resolution to Borrow.