Creative Capital Podcast 149: Are You Truly Doing Proper Due Diligence?

Creative Capital

Josh Ferrari

Investing, Business

5 • 1.1K Ratings

🗓️ 15 March 2022

⏱️ 14 minutes

🔗️ Recording | iTunes | RSS

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Summary

Don’t get too excited about that opportunity without doing proper research and really thinking about it. It doesn’t matter if it’s small or large asset, due diligence will save you from all the stress and heartaches when that opportunity turns out to be a problem. Let’s get right to it!

[00:01 - 13:55] Deep Dive Into the Micro and Macro Details

Look at the trends, population and growth
Talk to the property management face to face
Actually tour the property
Drive through the city
Talk to some locals and local business owners both of small and large businesses
Talk to other lessor
Trust your instinct
And some guide questions you can use to inspect on a micro and macro level

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Transcript

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0:00.0	What is happening everybody?
0:01.6	Welcome back to this week's segment of the No Limit Minute.
0:06.5	Now today I wanted to talk a little bit about something
0:09.4	that we've actually recently just gone through
0:12.0	and that is due diligence on a larger asset.
0:15.9	Now, I think we're gonna be talking today basically
0:18.2	about a large multi-family asset,
0:20.4	but you could honestly put any of the principles
0:22.4	of reticover today towards any asset.
0:24.6	Single-family, short-term rental.
0:27.1	I mean, this is really big picture here.
0:29.5	And I wanted to kind of differentiate the micro
0:34.4	and the macro factors of looking at a deal.
0:39.2	Obviously, micro being the detailed specific things,
0:43.4	macro being bigger picture,
0:44.9	kind of that 30,000-foot view on a deal.
0:48.6	Now, recently, we'd walk through a property
0:52.0	that we have under contract
0:53.9	and going through the due diligence process
0:56.2	and it was basically our physical inspection.
0:58.6	This asset, I won't disclose it just yet,
1:01.0	but when I did this asset and this particular market,
	...

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