Always do Your Due Diligence

By
Real Estate Broker/Owner with Frank Rubi Real Estate, LLC La Broker 09995688826

Big Easy Real Estate Notes
by Frank Rubi
www.7824.com

Due Diligence

Looking at homes for sale or investment property in Kenner LA it is important to analyze the property. This analyze will look at all the aspect of the property. This phase includes physical inspections and review of all documentation.

Physical Inspection

Now once you have negotiated a purchase agreement you should examined the entire property. Hire a professional inspector. Keep in mind in rental property the unit in some case can be messy. The focus should be on the main structure components. The main area you should focus on: AC/Heating, Roof, Electrical and Plumbing.

Documentation

You Due Diligence should include analyze of the investment property; this should include all financial statements. I like to view the owner's loss/profit statement. All information which was stated during the negotiation now should be confirmed. Information which should be shared:

•1.     Lease Agreement

•2.     Deposits on Hand

•3.     Maintenance Agreement (lawn Care, trash removal)

•4.     Collection information

•5.     Utility Records

In addition any pending legal litigation should be disclosed at this time. Zoning and code issue's if any should also be examined. Most investment property sellers will have most of this information available. If you would like more information on investment property in Kenner LA feel free to contact me @rubi@7824.com.

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Rainmaker
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John Walters
Frank Rubi Real Estate - Slidell, LA
Licensed in Louisiana

Good reminders Frank.  How did the brokers tour go by the way.

Jul 29, 2008 09:26 AM #1
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Jesse & Kathy Clifton
Jesse Clifton & Associates, REALTORS® - Fairbanks, AK
Retired

This is good info for anyone looking to buy.  Doing your homework up front is always a good idea!

Jul 29, 2008 09:58 AM #2
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Frank Rubi
Frank Rubi Real Estate, LLC - Metairie, LA
FrankRubiRealEstate.com

Jesse, thanks for stopping by. When you commented it reminded me that you had posted some time back about this topic.

Jul 29, 2008 09:09 PM #3
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