How much do we know about the property before we make a deal? In this episode, Tommy Brant addresses the importance of financial due diligence and how knowing the owners is just as essential as knowing the assets. Tommy also shares how taking the lead on the deal helped create value for him and his partners.

[00:01 - 17:18] The Deal that Eluded Me

• Tommy shares how he got his start in real estate
• Forming a team with the broker's contact
• Finding problems during financial due diligence

[17:19 -19:44 ] How to Avoid Mistakes During Financial Due Diligence

• Understand the previous owners and the property
• Educate yourself about the market
• Network with like-minded people

[18:37 - 20:06] Closing Segment

• Look for people to mentor you
• Final words

Tweetable Quote:

“You really need to understand the previous owners. What are the operators like? Did they have a business plan? What did they neglect? Is there a theme that we're seeing in all the units, So whenever people are talking about hard earned money, I wanna know the owners just as much as, I would know, the asset.” - Tommy Brant

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