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by Monte Lee-Wen

 

Now we come to the fourth and last part of our Investortours' Due Diligence Process - the Physical Inspection of the Property. That's right ... we save the inspection of the physical aspects of the property until the very end.

Most inexperienced Commercial Investors will make the mistake of diving right in to the property inspection without checking steps  I-III. Market : Financial : Tenant

We strongly suggest you don't bother to even look at the buildings until all three previous steps in the Due Diligence process are complete ... here's why.

It doesn't matter if it is the Taj Mahal itself ... Don't Buy It. NEVER, EVER fall in love with a Property's condition or amenities. How it looks does not determine its performance as an INVESTMENT.

 

The property's physical beauty and flawless construction will be overwhelmed from the start. It will not PERFORM for you or your investors. The Market, Financial or Tenant challenges will cripple performance every day you are an owner.

 

However, once you have assured yourself:

Inspect away ... and let's make sure the structure of the Property is sound before you buy.

 

Just remember, you don't have to do the inspecting yourself.

 

Rule #1 Applies: "Commercial Property Investing is a Team Sport", especially in Due Diligence.

When you have a quality Local Property Manager on your Team, they will not only do a full walk through of the property - giving you a unit by unit breakdown of needed repairs and expense projections - they will also do a Lease Audit, verify the Seller's tenant screening procedures and - here's the best part ...

They will do all of this at NO CHARGE to you.

Think about that for a moment. It costs you nothing up front to get this kind of detailed reporting from an experienced Property Manager who is completely familiar with the Local Market. They provide the service because it gets them a head start on taking over the day-to-day management of the property. This is one of the cleanest win:win partnerships in business.

 

 

 

 

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