Mogul’s operations manager, Jason, claims to have never met anybody (except us) who gets excited about the idea of due diligence.
“Not even that über nerdy guy in my Real Estate Investing class at NYU!” he insists.
And I can understand why...
When you stop to think about it, the word “due” is rarely associated with anything good or exciting. (Bills, anyone?) And the word “diligence” only seems to conjure images of a slow and steady turtle – or perhaps Andy Dufresne’s character in The Shawshank Redemption.
However, despite its rather uninspiring connotations, a well-executed due diligence process is absolutely vital to your success as a real estate investor. And it is especially important for anybody who has decided to test the waters of multifamily investing.
Sidenote: Have you recently decided to begin testing the waters of multifamily investing? If so, be sure to check-out the first…
Christopher Urso
is the founder of URS Capital Partners and National REIS. Chris has been investing in real estate since 2001. Over the years he has been involved in all aspects of real estate, from single-family fix and flips, buy and hold cash flow houses, and finally to apartment buildings. His real estate investment career only took off when he purchased his first apartment building 3.5 years ago. He now controls over $15,000,000 of apartments and has raised over $8,000,000 of private money in just over 3 years. He now structures investment partnerships to acquire large apartment complexes and also private coaches investors helping them purchase their own apartment buildings.