Avoiding Common Due Diligence Mistakes
Scott Carson
Investor, Entrepreneur, Marketer and Podcast Host. I have a passion for helping people to grow their investments and influence.
Hey Note Closers! Scott Carson here, diving into the essential topic of common sense underwriting. This episode is all about avoiding the pitfalls that can turn a seemingly great deal into a costly mistake. We're going beyond the spreadsheets and ROI calculators to focus on practical, real-world due diligence.
Key Takeaways:
The Importance of Loan-Level Bids: Don't fall for the "percentage across the board" approach. Insist on loan-level bids to accurately assess the value of each asset.
Don't Be an A-Hole: Treat sellers with respect and professionalism. Submitting unrealistic offers or failing to follow instructions will damage your reputation.
Know Your Market: Don't bid on assets in areas you don't understand or wouldn't want to own. Focus on markets with a decent population and available resources.
Don't Fall in Love with the Property: Take the emotion out of the equation. Focus on the numbers and the potential for profit, not the aesthetics of the property.
Look Beyond the Numbers: Don't rely solely on spreadsheets. Consider factors like the condition of the property, the borrower's history, and potential legal issues.
Actionable Advice This episode is packed with actionable advice to help you make smarter investment decisions. We'll discuss:
How to assess the value of a note beyond the numbers
How to identify potential red flags
How to build a strong team of professionals to support your due diligence efforts
Resources:
Order your O&E Due Diligence HERE: https://snip.ly/NewTitleSearch
Order your BPO Orders HERE: https://snip.ly/NewBPOForm
Book a Call With Scott: http://TalkWithScottCarson.com