When assessing a commercial or residential property for investment, there are a number of important DUE DILIGENCE elements to consider. 🏠🏠 
These are our top six focus areas:

☑️FIND OUT WHY THE VENDOR IS SELLING?
With a good understanding of the reasons for the sale you are better armed when it comes to negotiating, especially if time is of the essence for the vendor.

☑️FIND OUT WHY THE PROPERTY HASN’T BEEN SOLD? 
If the property has been on the market for a while, find out the reason for this and consider how you can resolve any problems you discover.

☑️VIEW AS MANY TIMES AS YOU CAN 
If possible, view the property several times and at different times of the day. If you have time, bring qualified experts (structural engineer, electrician etc.) to view the property so you are fully aware of all issues and costs.

☑️HOW MUCH WILL IT COST TO RECTIFY THE PROBLEMS 
Getting an idea of all costs is really important. Get quotes to fix problems and calculate total costs vs revenue.

☑️TALK TO THE LOCALS
Speak to the existing tenants, neighbours and local businesses, as the Estate Agent may not give you all the information you need.

☑️ SET REALISTIC EXPECTATIONS 
It can be hard to predict the final outcome, but approaching with caution is key. But being optimistic, not pessimistic is also important, as without any action there is no opportunity.

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