There's a huge problem in the commercial real estate business that nobody is talking about: due diligence. Investors are leaving big money on the table by not learning this essential principle.
Most investors, real estate brokers, and commercial real estate professionals barely scratch the surface conducting their due diligence. Mainly because, "They don't know what they don't know".
It wasn't until I became an acquisition executive that I learned some humiliating and expensive lessons because, "I didn't know what I didn't know".
This book is an easy to follow, proven, step by step system.
Having and adhering to a proven system allows you to conduct due diligence faster, easier, more efficiently, and you'll be less likely to miss something.
Here are some of the lessons you'll learn:
Uncovering hidden problems and issues (Sellers will not hand you a list of problems with the property. Many of these problems could make or break your investment.)
Critical factors to consider during your financial analysis. Included is a list of essential questions that must be addressed. (Leaving these questions unanswered can potentially devastate an investment.)
Not overpaying by ensuring you're getting all you deserve by being fairly credited for items on the closing statement. (This includes specific items to review and instructions to minimize your chances of being taken advantage of. You potentially lose big money by not having this information.)
These fundamentals remain the same and they are all applicable, whether it is a residential rental property, industrial, retail, or office building.
There are too many things to remember. We need to be reminded as much as we need to learn. Warren Buffet said, "Risk comes from not knowing what you're doing." Listen to this book now. It will be one of the best investments in real estate you'll ever make.
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Thorough Due Diligence
- Mike Spalding