Rental Property Investor · Member since 2018 · 14 posts · 4 votes
Hello just starting out, been listening to the podcasts and reading books like crazy, but one thing that I keep having questions about is the due diligence. What do most people look for or double check during this period? Like is this the time you would get it inspected, make sure your mortgage is approved, etc. What are some major things you want to be 100 percent on. Just creating a “due diligence checklist” almost! Thanks guys, look forward to your responses!
Investor · Frederick, MD · Member since 2016 · 352 posts · 194 votes
6y
@Gordie Ballhorn everyone's due diligence is slightly different (since it is mostly a comfort meter) but my due diligence is having a contractor walk the property to follow-up on the initial rehab quote I was expecting and potentially getting it inspected (depending on the situation and closing dynamic). I will also be in contact with my property manager to make sure I'm using the correct rent amount in my calcs and just double check everything in my calcs to ensure I left enough contingency in the deal so it works.
Rental Property Investor · Member since 2018 · 14 posts · 4 votes
6y
@Benjamin Seibert awesome thank you! That’s exactly what I was looking for! Making sure your numbers and everything line up not just the physical inspections itself! Thanks Benjamin!