Ep. 28 | 10 Land Mines to Avoid in Due Diligence The Real Estate Diversification Podcast

In this Legacy Series episode of The RED Podcast, Ferd Niemann takes us through 10 Land Mines to Avoid in Due Diligence. Hosted by Jonathan Gilmore.



HIGHLIGHTS:

0:00 – Intro0:52 – Warren Buffet is much better at avoiding a problem than getting out of a problem1:40 – Advertising your properties4:16 – Most mobile home park owners want to own the land not the homes but most tenants don’t want to buy7:55 – You have to look at the size of the lots and make sure you don’t get hurt with set backs10:10 – Read the zoning code, understand grandfathering and then negotiate with the city11:12 – What are the development restrictions and requirements for maintenance and operations12:00 – Make sure you have an operating city permit13:30 – Run a police report and a sex offender check14:19 – If someone is selling drugs in the park, hire an off duty cop to monitor the park for 2 nights17:33 – Make sure inspect the utility and infrastructure, such as the roads and gas lines18:42 – Make sure your title survey easement review matches up to your inspections20:15 – Inspect the water and sewer21:21 – Make sure there is valid title22:10 – Make sure due diligence doesn’t start until he gets his title and survey24:50 – Inspect the bankability of the property, make sure it will appraise, make sure it will pass the condition requirements for bank financing25:43 – Get a phase one environmental


RESOURCES:

⁠Due Diligence Land Mines Checklist