Recent content by orla_wade

When the survey arrives, ask which items are urgent, which are maintenance and which are merely observations. Then seek costs for the material items. Otherwise a long report can distort the model in either direction.

Separate the property test from the financing test. First calculate the unlevered net yield after every recurring cost and a realistic turnover allowance. Then run the borrowing costs independently at the proposed rate and at a higher rate, rather than letting leverage disguise a weak underlying...