Page 134 - Trump University Commercial Real Estate 101

TRUMP UNIVERSITY COMMERCIAL REAL ESTATE 101

getting it back. Besides, the numbers can quickly tell you a lot
about the property.
2. Physical. This is where you and professional inspectors go

through the property to ensure there are no major repairs or
problems that you don ’ t already know about.

3. Legal. Your attorneys will make sure that you receive clear title
to the property and that all documents are appropriately
written.

This entire process can be daunting, but I can assure you of one
thing: At the end of it, you ’ ll be either excited or relieved. You and
your team may conclude that this is indeed a solid deal, and the clos-
ing will be imminent. Or you ’ ll have realized that, based on the
detailed facts about the property, you simply can ’ t offer what the seller
insists on.
Trust me: Even then it ’ s not a total loss. You ’ re much smarter for
having gone through the process, and the next deal will go noticeably
faster.
It is possible to hire companies to do the entire due diligence pro-
cess for you. I suggest that you do as much as you can on your fi rst few
deals. Not only will you save money, but, more important, you ’ ll gain

AMATEUR M ISTAKE: “ I ’ LL DO IT MYSELF AND
SAVE MONEY. ”

I don ’ t care that you had a triple major in college of law, accounting,
and construction trades. I don ’ t care if you ’ ve done a dozen deals. If
you think you can do the entire due diligence process yourself, you ’ re
crazy.
You simply can ’ t be as good or as quick as specialists. Besides, you
should seek additional pairs of experienced eyeballs to validate your
impressions.

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