This two-day, in-person class will teach students how to create cost-to-cure reports. You will walk away with a trained eye for identifying and communicating property conditions, as well as the recommended methods and opinions of the probable costs for dealing with them. Cost-to-cure reports are great value-adds to your existing inspection services and enable you to charge more and increase revenue.
Day 1: Cost-to-Cure Reporting Benefits and Basics
We’ll review the benefits that cost-to-cure reporting provides to inspectors and to their clients in planning for sound capital management of their real estate assets. We’ll highlight the key differences for this service between residential and commercial inspections. We’ll explore the specific limitations, liabilities, risks, and marketing practices of this type of report, and you’ll learn the terminology and ways to communicate effectively in the commercial real estate arena.
Next, we will dive into the anatomy of commercial cost-to-cure reports, including the various types of reports and the sources, software, and other resources used to create them. You’ll also learn what information you’ll need to collect in the field, and how to decide if a building’s condition should be categorized as a repair or immediate cost versus a maintenance or long-term cost.
Day 2: Field Training and Creating a Cost-to-Cure Report
Students will visit a commercial building and go through the process of identifying and documenting information for a cost-to-cure report with the instructor. You’ll be taught why we collect the data we do and how it’s applied. Then, we’ll return to the classroom to create the report using the field data collected using a sample spreadsheet template that can be customized for future reports. We’ll also cross-reference various sources to ensure accuracy and comprehensiveness. By the end of the class, you will feel confident in starting and completing your own cost-to-cure reports.
Travel Details & Additional Information
The class is located at 4635 Nautilus Ct S, Suite C, Boulder, Colorado 80301, about 45 minutes from Denver International Airport (DIA). There are plenty of hotel options within 3 miles of the training location. For hotel information and deals, visit House of Horrors® Hotel Deals.
Lance Coffman, along with his wife, Brit, owns and operates Focus Building Inspections and Forever Home Inspections based in Tulsa, Oklahoma. He is the CEO of Teaching and Education, Lead Inspector, and Project Manager. Leading a team of inspectors between his companies, he has cultivated a solid client base consisting of commercial real estate buyers, investors, and property owners and managers. Beyond his inspection services, Lance also hosts training classes for commercial real estate professionals, sharing his knowledge and expertise.
Students will receive a Certificate of Completion for completing this class. It is approved for 16 hours of InterNACHI® continuing education credits.