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This is the updated and revised edition of "The Due Diligence Process Plan Handbook For Commercial Real Estate Investments. There’s a huge problem in the commercial real estate business that nobody is talking about- DUE DILIGENCE. The vast majority of investors, real estate brokers and commercial real estate professionals barely scratch the surface conducting their due diligence when purchasing commercial real estate investments. Investors are taking unnecessary risks and throwing money away or making bad investments, by not properly performing due diligence. Brokers are putting themselves at risk for potential litigation and missing an opportunity to help their clients as a true ally by learning these principles. Having and adhering to a proven system keeps you from missing something and allows you to do it faster, easier and more efficiently. It reduces the stress; makes you feel more confident; makes the sellers of the properties less likely to try to play games while negotiating with you, and ultimately helps to make you a better investor because you are more prepared. This handbook gives you a process to follow. A "road map" that takes you through from beginning to end. It is written in a concise, "easy to follow" fashion as a real due diligence tool and is not intended as a voluminous textbook on the subject. You will keep it as a constant companion while purchasing investment properties. It's based upon over 30 years of experience in the commercial real estate business and acquiring over 9 million square feet from private and institutional owners. The fundamentals remain the same, whether you’re acquiring residential rental properties, an industrial building, a skyscraper or retail shopping center. Some of the things you will learn from the book . . . What to negotiate in the purchase and sale agreement so that you can maximize the opportunities for yourself when it comes time to negotiate further with the seller. Specific provisions to ask for in the purchase in sale agreement that could end up costing you dearly later if you don’t have them in there. Specific issues and provisions to look for in the leases that could be potentially devastating to the investment after you own it. Conducting tenant interviews and what questions to ask so that you can uncover any problems or issues that you would otherwise not be made aware of. Cost cutting tips and strategies that will help you add value to the property once you own it. One of the most critical processes done during the due diligence process is the underwriting and financial analysis, which is constantly being revised during that process. Included is a list of essential questions that must be addressed. How to ensure that you are getting all you deserve when finalizing the transaction and what to look for on the closing statement to make sure you are. This will save you a lot. In addition, you get at the end of handbook . . . Sample Lease Abstract Form (which shows you how to fill in all the main deal points and provisions of a lease document). Due Diligence Checklist Due Diligence Document Checklist Sample Tenant Questionnaire (a sample list of questions that you should ask of tenants when conducting a tenant interview). By having the knowledge that this handbook provides, you will be more prepared and less stressed; be more confident in your ability to negotiate and go up against any seller. The fundamentals remain the same when it comes to due diligence for any commercial real estate, and it is all relevant as well as applicable. This handbook can be used to purchase any of them. There are too many things to remember during the process. We need reminding as much as we need learning. Get it now. You will refer to it over and over again.
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