So I'm looking at another duplex and wondering ...
Now that I am ready to talk to sellers about specific properties, I'm looking for some feedback on the due diligence process.
At what stages do you do which due diligence?
I did a search on the bigger pockets site for "Due diligence" and "buy and hold due diligence" and there is so much information I couldn't find sift through it all. Here's what I came up with.
Is there anything I am missing?
Paper Due Diligence
- deed to the property
- a copy of their insurance policy
- copies of all tenants’ leases
- current title report
- a recent real estate tax bill
- bank statements (really? Is this to prove the income?)
Property Improvements
The last time any of the following was repaired or replaced:
- Roof
- Water Heater
- All Appliances
- Driveway/Parking Lot
- HVAC
- Flooring
- Plumbing
- Windows
- Paint
- Cabinets/Counters
- Structure (foundation, framing)
- Components (garage door, etc.)
Also, should I ask for this stuff before I even see the property so I can evaluate it with real numbers? At what point do you request these items?