Due Diligence

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When you buy a property, what should you do first? You do your due diligence. What is due diligence? Reasonable steps taken by a person in order to satisfy a legal requirement, especially in buying or selling something. Due diligence gives you, the bank, and investors the confidence about whether you want to do the deal. That is the most important part of due diligence, the simple question of asking yourself “do I want to be in the deal?”

1.Do you want to be in the game? Whether office, single family home, or multi-family…what game do you want to be in?
2.Do you want to be in that deal? Getting more specific, do you want those tenants, that location, that building?

Remember that you need a bank on your side. They are your partner. Grant takes 20 days usually with due diligence. What does he look at from the seller? Inspections, rent rolls, T12, rehab information, and income statements. There are 3 kinds of income statements. Real ones, fake ones, and mom and pop ones. The mom and pop statements end in all 0’s. Nothing ends in zero. Due diligence will find the real numbers.

There is still time to get in on Grant’s latest deal. Go to ormondinvestment.com to learn more.

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Star of Discovery Channel’s “Undercover Billionaire,” Grant Cardone owns and operates seven privately held companies and a private equity real estate firm, Cardone Capital, with a multifamily portfolio of assets under management valued at over $4 billion. He is the Top Crowdfunder in the world, raising over $900 million in equity via social media. Known internationally as the leading expert on sales, marketing, and scaling businesses, Cardone is a New York Times bestselling author of 11 business books, including “The 10X Rule,” which led to Cardone establishing the 10X Global Movement and the 10X Growth Conference, now the largest business and entrepreneur conference in the world. The online business and sales educational platform he created, Cardone University, serves over 411,000 individuals and Forbes 100 corporate clients throughout the world. Voted the top Marketing Influencer to watch by Forbes, Cardone uses his massive 15 million plus following to give back via his Grant Cardone Foundation, a non-profit organization dedicated to mentoring underserved, at-risk adolescents in financial literacy, especially those without father figures.