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 opportunities to help their clients as true allies 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 was created to give an overview of the due diligence process. It is written in a concise, pragmatic fashion as a real due diligence tool and is not intended as a voluminous textbook on the subject. It's based upon over 30 years of experience in the commercial real estate business and acquiring over nine million square feet from private and institutional owners.
The fundamentals remain the same whether you are acquiring residential rental properties, an industrial building, a skyscraper, or a retail shopping center.
©2015 Brian Hennessey (P)2015 Brian Hennessey
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This audiobook was so good that I bought the hard copy as well just to keep a quick reference. The author covers many details that I know to be true, but are easy to neglect because you simply don't know what you don't know. So many items in this book will help prepare any buyer for that inevitable situation when the building or fire inspectors come knocking on your door about one deficiency or another, or asking for permits which uncover the problem during a professional site review.
Outside of the checklists common to most commercial real estate, the author goes on to itemize issues related specifically to multi-family, industrial, and retail property.
The book is also very concise, only gold, no fluff. I cannot recommend it enough.
"Thorough Due Diligence"
This isn't entertainment reading and you wouldn't want the narrator to read fiction. But you may put hundreds of thousands of dollars in your pocket. His thorough checklists and detailed explanations of all the items that could cost you money are invaluable. Your broker is not your friend. You need to know the status of the property you may purchase.
This book and its content are too important to be ignored. I am in the middle of buying a commercial building and negotiating leases. I am also a property manager to Federal client. Besides I am physician, needless to say analytical. If I can understand this book despite doing my day job, any body can.
"Due dil list and exhibits ?"
Not providing a website and code for audio buyers for exhibits needs to be clearly stated. Asking us to buy physical copy after buying audio copy to get the takeaways is not what I would expect or receive from other audio authors. Great content btw.
great review of what all CRE professionals already know in a concise and detailed book. Very much surprised in the detail.
"Essential resource for CRE pros!"
I have listened to this audio book three times now. Every time I learn something new. Also, I've purchased several hard copies for my team, and for gifts to other broker friends. Brian also has a seminar of this material on DVD that has further deepened my knowledge of the material.
I find the information invaluable, and refer to it daily, when in due diligence on a project. So many CRE books are heavy on theory and light on application, not this one. This book is practical. A must read!
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