CHAPTER 13 Due Diligence - Protect Yourself fr ourself from Flops om Flops
Careful and comprehensive due diligence is one of the most important aspects of multi family real estate investing. If you ignore the due diligence process, you can make the mistake of moving forward on a deal that you wouldn’t have had you completed your due diligence more carefully. Smart investors realize that sometimes the best deals are the ones they don’t buy. Purchasing commercial investment property is very different then buying a single-family home. Consumer protection laws do not apply in commercial real estate transactions. As a buyers broker I have a checklist of items that I need in order to properly complete my due diligence or my purchasers.
The checklist includes: • Financials
• Tenant information • Management information • Property information • Reports on the demographics • Crime reports • A market survey of comparable properties • Contact with city or county planning and zoning offices • A meeting with the city or county assessor
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