Thorough due diligence is crucial for the long-term success of a real estate investment.
The due diligence phase immediately follows the completion of the purchase agreement and typically lasts 2-12+ weeks depending on the deal.
During this period, we tour units, determine costs, finalize financing, and firm up underwriting.
To better inform the above, we always seek to obtain and review:
1.) Property Inspections (both general and plumbing)
2.) Lease Agreements
3.) P&L Statements
4.) Eviction Records
5.) Elevation Studies, Plans, Surveys
6.) Capital Improvements Schedule
7.) Utility Bills and Meter Counts
8.) Current Tax Bills & Appeals
9.) Title Reports
10.) Licenses and Permits
11.) Vendor Lists
12.) Miscellaneous Items Depending on the Deal