Doctors, like investors, rely on their team to deal with presenting problems from their clients. If a diagnosis is made without consultation it could lead to possible malpractice. In the same way, a property search during due diligence relies on consultation with others before a decision is made to acquire the property. How does your Team play a role?
When performing due diligence, you will not be diagnosing information without support. You can rely on Field Representatives who look out for your interests in examining a potential acquisition. Your Mortgage Broker, Commercial Real Estate Broker and even your Property Manager can help:
Use these members of your team to complete Tips For House Showings multiple tasks simultaneously.
Highly experienced Field Representatives can focus locally on specific Due Diligence tasks
You coordinate their activities, as their end result of a due diligence investigation is that when it comes time to determine if this is the right investment, you will have a significant level of information gathered in a short period of time, due to the efforts of key team personnel. The findings are critical and will be presented to your partners Real Estate Agent Agreement Sample or investors, lenders, or other buyers. At the conclusion of your due diligence you may seek certain concessions from the seller based on the findings of your teams examination of the property. The facts that you have gathered will depend on how you direct your key team members and will go a long way to helping you achieve success in negotiations.
Remember, your responsibility, as team leader, is to increase return on investment. This property may be performing poorly due to poor management by the Seller and your job is to gather enough information to determine if you can manage the asset more profitably than the Seller, BEFORE YOU BUY. Begin now to make the list of ways you would do a better job of managing the asset. This list will become the source of your Strategy for maximizing the asset’s profitability under your control. ROI begins here, and you can turn this into a high yield, short term investment with the right leadership of your team.
By the way, do you want to learn more about investing like this? If so, I suggest you check out why this group of Doctors Invest as a Network to increase ROI. You don’t have to BE a doctor to invest like one.