In this episode, Steve discusses the due diligence process that you need to undertake when purchasing investment property.
Key Takeaways:
– The due diligence process is beyond critical for investors.
– The list of what you should know is extensive…most investors only scratch the surface.
– This has to be set out in a plan and it needs to be detailed. What do you need to see?
– The moment you stat to collect information to make a decision, whatever that decision is, that is when the due diligence process starts.
– Pre contract and post contract due diligence.
– See what is actually happening, not what the marketing material is telling you.
– How to balance getting the information you need with the pressure to make clean offers.
– If you don’t get what you need, you want to proceed with caution.
Steve DeVoe is a professional real estate leader and action taker with 30 years spent at the commercial real estate school of hard knocks. With a creative imagination, solid business acumen, and a passion for driving results, he specializes in translating vision and planning into performance and results. Steve has completed over 1000 commercial transactions, from leases to design builds, and from investment sales to land development. They include transactions from single family rentals, to multiple asset retail portfolios, and small lease renewals to custom home developments. Leveraging his 30 years of real estate expertise, he has become a published author of several informative books and articles. Steve can be emailed at sdevoe@mcommercialrealty.com.
