EP 259: Must Haves During the Due Diligence Period (Minisode)
Apr 12, 2022
Practice due diligence… We hear that all the time. We ask questions and get all the answers we need, but does it stop there? Definitely not.
In this episode, Liz and Andresa discuss practical tips to apply in applying due diligence and how it does not stop at mere inquiries. This shows that we must go above and beyond because in this business, not disclosing the full information about the property is more common than you think.
Andresa gets nitty-gritty on what you need to focus on when evaluating a property. She emphasizes the importance of questioning the validity of the papers and looking into both the interior and exterior of the estate down to the last detail.
Jump right into the show to find out the five important items to consider in the due diligence process!
Quotes
• “It is your job to verify the information.” (3:00 - 3:04)
• “The chances of an owner slash seller, being completely upfront with all the information, the bigger the deal, the more is kept out. So just keep that in mind.” (3:42 - 3:51)
• “You've got to understand what is the condition of the current system…so you know that you need to consider those replacements pretty soon. Don't assume that everything is going to, you know, last forever, because it won't.” (6:30 - 6:59)
• “The trick over here is your eye needs to be in four corners at all times.” (11:59 - 12:04)
• “Due diligence is absolutely critical… It's like a muscle, right? You get better every time you do it.” (12:13 - 12:18)
• “It's all about taking one step forward… [and] putting it into action.” (12:27 - 12:32)
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