Description

In this episode, Tanh discusses two important aspects of the due diligence phase: attorney lease reviews and preliminary title reports. For lease reviews, it is crucial to understand the relationship between the landlord and tenants, as well as any sneaky clauses that could cause issues. Preliminary title reports reveal ownership, liens, easements, and encroachments on the property. It is important to address any issues uncovered in the report as soon as possible. The speaker also touches on financing and negotiations during the due diligence phase.

Takeaways

• Attorney lease reviews are essential to understand the relationship between the landlord and tenants and to identify any problematic clauses.
• Preliminary title reports provide information about ownership, liens, easements, and encroachments on the property.
• Address any issues uncovered in the title report as soon as possible to ensure a timely resolution.
• Involving your bank in the due diligence phase is important for ordering third-party reports and assessing the property's value.
• Negotiate with the seller based on the findings from the due diligence phase, presenting facts and data to support your position.
• Closing between the beginning of the month can result in a prorated monthly income, providing additional financial benefits.

Chapters

00:00 Attorney Lease Reviews

02:31 Preliminary Title Reports

04:38 Financing and Third-Party Reports

06:18 Negotiating Based on Due Diligence Findings

10:39 Closing Tips for a Successful Real Estate Deal

🔋 Support My Channel 🔋

Bitcoin: bc1pe8ejjypqem83tupwurs68jlchwsh0889mfjgpxss7xentgcfwkpstv5y2h

Sats via Strike: https://strike.me/tanh

Dollars via Paypal: https://www.paypal.com/paypalme/tanht

Dollars via Venmo: https://account.venmo.com/u/tanh-truong

🌍 Website: https://www.wontonwealth.com

✖️ X: http://www.x.com/tanhtruong

📷 IG: http://www.instagram.com/pro_tanh

🤓 LinkedIn: http://www.linkedin.com/in/tanh-truong-30a18ab0/

❗ DISCLAIMER: This show is for entertainment purposes only. Before making any decisions consult a professional. This show is copyrighted by Wonton Wealth. Written permission must be granted before syndication or rebroadcasting.