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how to become millionaire with real estate business_16

Author: how to become millionaire with real estate business

How to Perform Due

Diligence on a Potential

Option Property

Over the past 24 years, my real property

research credo has evolved into: Trust no one, assume nothing, verify everything,

and be prepared for anything! I have learned the hard way not to automatically

assume that all of the information contained in the official public records about a

property is complete, up-to-date, and 100 percent accurate. It usually is not. The

only way to obtain reliable, up-to-date information on a property and its owner is

to go directly to the source of the information and then verif y it, which is exactly

what due diligence is all about. The purpose for performing due diligence on a

potential option property is to gather the most up-to-date and verifiable information

available in order to make an informed option buying decision. And, given

the Internet and the vast amount of property-related information that is readily

available online today, there is absolutely no valid excuse for anyone not to perform

due diligence on potential option properties before they plunk down their

hard-earned money to buy a real estate option. But what I really like most about

using the Internet to do research on properties is that I am free to snoop around

online in the comfort and privacy of my own home-based office without ever

having to deal with the snotty clerks that are all too prevalent in government offices

today. In today's wired world, computer-savvy option investors can quickly

perform most of their property due diligence research by using their personal

computer and an Internet connection linking them to the myriad of web sites that

contain information on a property's:

1. Ownership.

2. Liens.

3. Sales history.

4. Tax assessed value.

5. Environmental hazards.

6. Crime rate.

7. Demographic information.


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