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‘Property Condition Inspection’ Archives

Existing Home Sales Are in The Tank for the Long Term

Existing Home Sales Are in The Tank for the Long Term

This CNBC Article from December 16 demonstrates the size of the issue and hints at the tenancity the problem exhibits. Negative Home Equity Is Worse Than You Think Published: Wednesday, 15 Dec 2010 | 1:12 PM ET Text Size By: Diana Olick CNBC Real Estate Reporter Digg // Buzz // // Facebook Twitter [...]

A Surprising Idea to Improve Customer Service…

A Surprising Idea to Improve Customer Service…

Here is a great idea to provide value add customer service and improve your property. The Thermal Leak Detector - Newsweek. 4 of 5 Thermal leak detector Typical cost: $50 Annual energy savings: $220 Pays for itself within: 5 monthsWonder why your heating bills are high even though you've done everything you can think of to [...]

5 Elements Define Rental Investors Due Diligence

5 Elements Define Rental Investors Due Diligence

I continue working on a new book for due diligence.  Supporting this, I have explored many different ways of presenting the information.  The following article which I recently offered on EzineArticles provides simple way to analyze the process.  I'll be interested in any comments that we receive on [...]

IRREIA is Proud to Sponsor Our New Book Coming Very Soon

IRREIA is Proud to Sponsor Our New Book Coming Very Soon

IRREIA is in the final stages of publishing our first Ebook for our readers and members.  This volume offers over 250 pages of actionable ideas to improve your investing and property management skills and results.  Divided into 7  sections, the  book covers: Developing investors, Investor communications, Reducing operating [...]

New Stuff – Keep an Eye Out for Our New Letter of Intent template

New Stuff – Keep an Eye Out for Our New Letter of Intent template

I've just provided a template for a purchase and sale letter of intent (LOI) on the membership site.  The tool has been used on dozens of transactions and is well vetted.  I think you will find this  a useful item to have in your tool chest. A Letter of Intent is a great tool because the basic business terms can be captured with minimum [...]

Letter of Intent Template

Letter of Intent Template

I've just completed a tried and true letter of intent you can put to good use as you negotiate with sellers.  You may  want to tweek it a bit, but this item gives you the complete item to use. A Letter of Intent (LOI) makes sense to use prior to going to contract.  The LOI gives you the opportunity to agree to terms prior to handing the [...]

Land Intelligence – Save Money, Protect Your Investment

Land Intelligence – Save Money, Protect Your Investment

The right engineering and environmental data can save investors cost and protect their investment.  Land Intelligence provides tools and services to accomplish this.  Today, we posted in the paid member area our newest white paper, "A Case for Land Intelligence".  Join and enjoy this information. To tell more, in the white paper, Gore [...]

The Purchaser’s Property Inspection

The Purchaser’s Property Inspection

Inspecting a property is a non trivial event.  The inspection has to be completed in a manner that thoroughly checks each building, each unit, each subsystem, parking, paving, amenities and grounds. The inspection must note the condition of each item, required repairs, and an expected cost to complete (preferrably provided by internal sources [...]

Reviewing Historical Financials During Due Diligence

First, relying on the current owners' historical financials for an expectation of your operating expense is fraught with risk.  Essentially, you are making the assumption that you can and will operate the property  in very much the same way the seller is.  This assumption can prove incorrect for a wide range of reasons.  The risk averse [...]

Property Condition Report Short Comings

Lenders require and rely on the property  condition report because in concept this report should identify  all immediate  requirements, establish needed reserves, and either support or debunk the  purchase price of the asset on the basis of physical status.  Unfortunately, as investors making this  assumption is risky. First, the report  [...]

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