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This is the updated and revised edition of "The Due Diligence Process Plan Handbook For Commercial Real Estate Investments", including another chapter. 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 learningthese 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 betterinvestor 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 9 million square feet from private and institutional owners.The fundamentals remain the same whether you’reacquiring residential rental properties, an industrialbuilding, a skyscraper or retail shopping center.Here are 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 timeto 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 inthere.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. I've included 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 by being aware of what to look for.In addition, you get at the end of handbook . . . Sample Lease Abstract Form (which shows you how to fill in all the salient 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).Commercial real estate investments involve serious money. That's why the due diligence process should be taken seriously. If you don’t, you are virtually flushing money down the toilet. By having the knowledge that this handbookprovides, you will be more prepared than the vast majority of investors. You will be less stressedand 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 of the commercial real estate genres, whether it be office properties; industrial properties; retail or multi-family residential. It is all relevant as well as applicable, and this information can be used to purchase any of them. Buy it now so you're armed and ready for your next investment property purchase.
