What you need to know about DUE DILIGENCE

Today’s real estate investing word is called due diligence.

Due diligence means the research and the effort you put into understanding the property before you actually purchase the property.

Before you take on a new real estate investment you will do your due diligence which involves things like an inspection. It could involve an appraisal, could involve you walking the property and having somebody check out all the different parts.

You’ll want to check all major systems: electrical, water, air conditioning, roof, etc.

You’ll also be checking financial and legal situations like tax records, checking the propertie boundaries, getting all these things done so you have the best picture of what you are buying.

Due diligence means you’re doing your research, and you know what you’re getting into.Make sure you do your due diligence on every property.

PRO TIP: When you do your due diligence, look at Google at older street images.  Sometimes, you’ll see things about the property that may have been covered up (intentionally or unintentionally) or never properly dealt with.

Make sure you go to DFWTOP.com/words if you want to download 22 Real Estate Investing Terms you need to know. It’ll help you as a new real estate investor sound like a pro.