Let’s jump in to some important facts to know before you start you get us. No one is just a costumer. You’re going to have some trouble. You’re going to have some inspections to do.
You may even have to report it. Now is you are going to provide for you some chaplains and those that this has some pretty good diligence things items on the checklist that you would do that don’t cost you money that will hopefully get you enough Discovery items to figure out if you want to proceed or not.
All right. So hopefully you can you can get all sackless and do those things. Nice and easy on the pocket before you meet.
I also realize that the cost of doing due diligence the cost of business travel inspections and imports is no fun.
It is a cost of doing business. All right. You don’t get that way.
So make sure that you do your due diligence before you jump into due diligence. All right. Number two is you can ask for an extension to the contract. Let’s say they gave you 30 days but you discover something maybe a structural problem where you to bring in a structural engineer and that company is busy.
So it’s going to go past 30 days you can very easily ask for an extension for two weeks three weeks where it was going to take.
Right. So that is possible when that happens most of the time. Which leads me to number three.
All right. You will ask for an extension. Number two is you can ask. And number three this you will ask for an extension. What I mean by that is in all my dancing career not one time have I gone through and completed my due
diligence in 30 days given to me I’m always asked for an extension will beyond 30 days because I needed more time.
All right. That happens. That’s expected. And he will be given to you just make sure it’s the right number for your findings from due diligence will set you for renegotiating the deal.
All right. So you may discover that there are some problems and you may discover that there was good cash on the property but upon your due diligence you discovered there is some financial forces or are things missing
in the finances that drop your cash flow. All right. That happens all the time. You’re going to have to go and renegotiate the deal. You may find that there’s a roof problem and you may have to go in to renegotiate a deal.
The last thing you want to add here is sometimes you may hear that a certain deal or a commercial deal you’re buying it as is. Let me tell you there’s no such thing. Don’t let anyone tell you that you’re buying this as is you can say OK you’re mine.
That’s not true. Everything is negotiable and real negotiable. All right. No such thing as assets don’t forget never buy. I want you to always keep your answers strategies in mind because as you uncover the elephants the way you want to exit from this deal may change because of what you have discovered.
All right. So always keep it in mind as you go through the due diligence process and the stampings. Right now everybody is looking to have a business plan on the table going on I’m asking you to be the business expert here.
All right. So hopefully by watching videos you can assemble a team you’re going to get an adviser a mentor someone they help you with devising this business plan. But I want you to have one in mind going in terms of marketing maintenance money management how that kind of thought of going in.
It doesn’t have to be well-defined but just don’t get to the bottom. And lastly I would share with you a famous due diligence over here to my life. I’m guessing that I teach others. All right. Here it is the plans of the diligent leads to profit as surely as least of poverty. All right.
Basically what that means is when you’re diligent in your planning and checking things out that can lead to a profit. If you don’t plan if you do things very hastily hurried and don’t check things that least a part of it.
So I hope you enjoy this. Next I want to go with you. Seldom do do business facts that will save you a fortune. All right I’ll see you there.