Dearborn, MI · Member since 2016 · 12 posts · 2 votes
Hey everyone,
I’m exploring the idea of creating a software tool designed to streamline the due diligence process for commercial real estate transactions. I know many of us currently rely on spreadsheets and manual checklists, which can be for some tedious process and prone to errors.
I’d love to hear from those who are directly involved in the due diligence process—investors, brokers, attorneys, inspectors, you name it. Would you find value in a dedicated software tool that centralizes and automates due diligence tasks, track task progress with due dates, and add team collaboration features so you can see who’s doing what at a glance—all your projects, due dates, and task statuses in one place.
Or is the good old spreadsheet doing just fine for you?
I’m looking for honest feedback (don’t worry, I can handle the truth!). Would you see yourself using a tool like this, or is it just another shiny object that’ll collect digital dust?
Lender · CA · Member since 2015 · 9k+ posts · 10k+ votes
2y
If the tool has merit, then build it for yourself, and it will pay for itself on that basis alone.
If it will not pay for itself (& time counts as a cost) when the only customer is yourself, it's probably been done a thousand times, and/or isn't as useful as you think.
Let's not pretend software widgets are 20 thousand square foot shopping centers...
Investor · Kissimmee, FL · Member since 2020 · 121 posts · 35 votes
1y
I am the type that prefers software. I use STESSA, hospitable, turno etc.. I would love to have one to analyze and manage mixed use commercial properties. Let me know if you do it.