Tham khảo tài liệu 'commercial real estate investing for dummies for dummies business personal finance_11', tài chính - ngân hàng, đầu tư bất động sản phục vụ nhu cầu học tập, nghiên cứu và làm việc hiệu quả | 256 Part V Kicking Your Investing into High Gear Does your prospective commercial fixer-upper favorably satisfy these factors If so you re ready to move on to the next level due diligence. If not consider finding another deal for now. Perform due diligence Due diligence is the process of doing your homework on a potential investment. You re looking to find out whether it s a good buy an average buy or a bad buy. Because we have dedicated Chapter 6 to the subject of due diligence we recommend that you review it again. Due diligence is not only a fact-gathering mission but it is also a mind-set. You must think like an investigator on one of those detective television shows. Leave no stone unturned. Expect the unexpected. Expect drama. Expect the twist in the story. The one thing you want to avoid is a surprise ending right A proper mind-set also means being present with what s going on around you. You need to be as distraction free as possible when going through the due diligence process. What are the consequences of being distracted during due diligence Not good that s for sure. Not being present may cause you to overlook important property expenses or not follow up on a severe physical defect in the property s structure. The due diligence process usually has three areas of focus physical inspection financial investigation and legal inquiries. In the following sections we touch on these topics as they pertain to commercial fixer-uppers but we add another area sales and marketing strategies which are often overlooked. Physical inspection Hire a professional property inspector to do the physical inspection. These professionals are trained to spot apparent and potential problems. They ll get on the roof check out the building s foundation walk through every unit of occupyable space including storage and garage areas and laundry facilities check for building code violations and see if the electrical and plumbing systems are up-to-date. Keep in mind that during a .
