Once you find a realtor or a website to get leads from, what is the due diligence? Is there a list of items that need be checked off to get a great deal? If there's one...please help me out and post that list here. Thank you! :)
@Alaki T. There is a ton of due diligence required, I suggest you start here
What are you trying to do?
@BrieSchmidt I am new on here. Thank you so much for the link :)
@Brandon Proctor trying to figure out the process to sift wheat from tares sort a speak or good deals and bad deals.
@Alaki T. I am not sure exactly what you are asking. Due diligence is generally about making sure the deal you got is as described and that you are getting what you bargained for. This would typically be an inspection for a SFH but could be a list of 100 items for a large commercial property. Some of the due diligence regarding title and legal issues is handled by the title company.
But maybe you wanted to know of the steps to getting a good deal. Not getting what you bargained for, but just getting a bargain! The key here is find motivated sellers. This is where the really good deals come from. Also most good deals are not found, they are negotiated. Some of my best deals wound up being 25% of the original asking price.
@Ned Carey thanks for the clarification. I did loans almost 10yrs ago...it's all coming back to me now:)
Free eBook from BiggerPockets!
Join BiggerPockets and get The Ultimate Beginner's Guide to Real Estate Investing for FREE - read by more than 100,000 people - AND get exclusive real estate investing tips, tricks and techniques delivered straight to your inbox twice weekly!
- Actionable advice for getting started,
- Discover the 10 Most Lucrative Real Estate Niches,
- Learn how to get started with or without money,
- Explore Real-Life Strategies for Building Wealth,
- And a LOT more.
Sign up below to download the eBook for FREE today!
We hate spam just as much as you
Create Lasting Wealth Through Real Estate
Join the millions of people achieving financial freedom through the power of real estate investing