Note investing due diligence has been a huge focus for us recently. With the addition of David to the team, it’s been important for us to get him on top of his due diligence game. This is where you have the chance to make or break the profitability of your business. It ins’t a cliched saying for no reason, “you make your money on the buy, no the sell.”
Due Diligence Pro Updates
For those fantastic listeners that use Due Diligence Pro there has been some updates to the app. If you use the software on Chrome, it’ll update automatically. If you’re a Safari user, you’ll need to log back into the website and get the updated app.
We received an email from a user of the app, and he mentioned wanting to see Wikipedia added to the list of sites used in the app. I’ve never thought to use Wikipedia for due diligence. So, I went a few days using it as I reviewed some assets this past week. The best I could figure was two different uses for Wikipedia.
One would be for demographic data, and the second would be for isolating potential up and coming markets. For demographic data I use http://usa.com.
Either way, this needs to be one of the next additions to Due Diligence Pro.
Note Investing Due Diligence
We continue this discussion of due diligence by reviewing some specific note investing due diligence items. We’ve been analyzing our portfolio to see if there is any deals we can move.
One of those deals is currently going through foreclosure, and we needed an update on the taxes. So, I tasked David with going about getting an update on the foreclosure situation. To do this he needed to go through the clerk of courts to get the records of what has happened with the proceedings.
After getting that information, we need to verify the details on the taxes. Using DD Pro we pulled the tax data that the county was reporting online. However, one of the ethos of the show is trust but verify. With that in mind, we called the the county to verify the taxes.
That’s it for this week! Thanks for listening everyone and as always, if you have any questions, comments or potential deals to send our way, email us at firstname.lastname@example.org.
Listen & Watch this Week’s Show to Learn:
- Note Investing Due Diligence
- Where To Go To Check On Foreclosure Status, Other Than The Attorney
- Trust, But Verify
- Techniques To Manage Shitty Days or Weeks
- And much more!
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Thanks for listening to our show! We’ll be back next Wednesday morning.
Chase & Robby