The Due Diligence Handbook for Commercial Real Estate A Proven System to Save Time Money Headaches and Create Value When Buying Commercial Real Estate (Audible Audio Edition) Brian Hennessey Books
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There's a huge problem in the commercial real estate business that nobody is talking about due diligence. Investors are leaving big money on the table by not learning this essential principle.
Most investors, real estate brokers, and commercial real estate professionals barely scratch the surface conducting their due diligence. Mainly because, "They don't know what they don't know".
It wasn't until I became an acquisition executive that I learned some humiliating and expensive lessons because, "I didn't know what I didn't know".
This book is an easy to follow, proven, step by step system.
Having and adhering to a proven system allows you to conduct due diligence faster, easier, more efficiently, and you'll be less likely to miss something.
Here are some of the lessons you'll learn
- Uncovering hidden problems and issues (Sellers will not hand you a list of problems with the property. Many of these problems could make or break your investment.)
- Critical factors to consider during your financial analysis. Included is a list of essential questions that must be addressed. (Leaving these questions unanswered can potentially devastate an investment.)
- Not overpaying by ensuring you're getting all you deserve by being fairly credited for items on the closing statement. (This includes specific items to review and instructions to minimize your chances of being taken advantage of. You potentially lose big money by not having this information.)
These fundamentals remain the same and they are all applicable, whether it is a residential rental property, industrial, retail, or office building.
There are too many things to remember. We need to be reminded as much as we need to learn. Warren Buffet said, "Risk comes from not knowing what you're doing." Listen to this book now. It will be one of the best investments in real estate you'll ever make.
The Due Diligence Handbook for Commercial Real Estate A Proven System to Save Time Money Headaches and Create Value When Buying Commercial Real Estate (Audible Audio Edition) Brian Hennessey Books
I own several commercial properties already, but as they were strategic buys in relation to my businesses, I had never really bothered with due diligence ( I know, I’m an idiot...). Currently, I’m in the process of buying two industrial buildings strictly for investment purposes, and decided I should find out what I didn’t know.This book is fantastic, if not a bit overwhelming at first (I felt a little bit like, “holy crap, I’m supposed to do all that?!?). It’s super short, though, and all gold. Read it, get started, read it again, make some progress, then read it again, see what you’ve still missed.
The listing agent on my current transaction thinks I’m a longtime pro real estate investor because of the thoroughness of my due diligence. Actually, though, it’s my first time doing it plus this book.
It would be dumb not to buy this book. Do you want to be dumb?
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The Due Diligence Handbook for Commercial Real Estate A Proven System to Save Time Money Headaches and Create Value When Buying Commercial Real Estate (Audible Audio Edition) Brian Hennessey Books Reviews
Brian drops some really good knowledge on how to properly conduct your due diligence when you've found an investment property that you wish to purchase. These guidelines are definitely something to know before starting the due diligence process so that you're not stuck with costly avoidable issues once you've closed escrow.
As a Realtor working in a residential brokerage, this book has answered so many questions that I had in regards to commercial real estate that no one had time to answer. It tackles all the key points and provides examples for an even better understanding. Book starts at page 7 and ends at page 102. Followed by 4 exhibits and additional resources. Short and sweet.
The book's content is concise and very fine. As a developer and investor with over 3 million square feet of built projects, I found it very accurate and I'm sure I will be going back to it when new deals come. Mr. Hennessey's "manual" is just too short to be called a book.
There are a lot of good books that discuss how to analyze a property and what you should look for, but not many that outline the most important part of real estate acquisitions the due diligence process. Brian Hennessey's book is an important and detailed guide for real estate players of all levels. Beginners can benefit from this handbook because they can learn all about due diligence steps. This handbook prepares new real estate investors for what they should expect in the business while making sure that sellers don't pull a fast one on them. Experienced professionals can brush up on their due diligence methods as well as gain further knowledge. I've seen senior investors miss small but crucial steps mentioned in this guide. The guide also discusses deal-killers, dealing with lenders, and physical inspections. Helpful templates are also included in the guide.
I think it's also worth mentioning that Brian seems to have experiences from all sides of the real estate transactions acquisitions, dispositions, and brokerage. From his introduction and from what's written in the book, he truly seems like he wants people to make informed decisions and avoid expensive mistakes that he's made in the past. He gives you the tools you need to protect yourself in real estate acquisitions.
This manual covers the entire due diligence process and is essential for those who want to learn about due diligence or for investors that want to have a guide that they can trust and rely on.
I originally bought the audiobook from Audible, and it was so full of gold nuggets that I bought the hard copy as well just to keep a quick reference, and went through the whole thing again. The author covers many details that I know to be true, but are easy to neglect because you simply don't know what you don't know. So many items in this book will help prepare any buyer for that inevitable situation when the building or fire inspectors come knocking on your door about one deficiency or another, or asking for permits which uncover the problem during a professional site review... but more importantly, how to dig out all of the hidden costs associated with a commercial property that could have a dramatic effect on the bottom line.
Outside of the checklists common to most commercial real estate, the author goes on to itemize issues related specifically to multi-family, industrial, and retail property.
The book is also very concise, only gold, no fluff. I cannot recommend it enough.
Best Real Estate Due Diligence book I've ever read.
We have done over 50 fix and flips in the last year. We also have lent on over 100 homes and small buildings in the last 2 years.
and have started to buy small multi family buildings, where the due diligence is a bit more intense,the margin for error much tighter, and the dollar amounts much greater. We are using his Checklist internally for acquisition, due diligence, and lender comparables.
Our first deal, just using his system saved us TENS OF THOUSANDS of dollars. Took me about 2 hours to read the book and its completely filled with underlines, stars and highlights. Thanks Brian for the great pointers and my advice is this book is worth its weight in real estate gold, especially for those looking to move upstream.
I highly respect Mr. Hennesey's efforts in writing this book. It's clear cut and spares us the bs. If you are looking for a book on strictly what to do in a Commercial transaction, then this book is for you. The author provides insight beyond the basic obvious ways on how to really look into a commercial property. I highly recommend this book if you want to protect yourself with proper knowledge.
I own several commercial properties already, but as they were strategic buys in relation to my businesses, I had never really bothered with due diligence ( I know, I’m an idiot...). Currently, I’m in the process of buying two industrial buildings strictly for investment purposes, and decided I should find out what I didn’t know.
This book is fantastic, if not a bit overwhelming at first (I felt a little bit like, “holy crap, I’m supposed to do all that?!?). It’s super short, though, and all gold. Read it, get started, read it again, make some progress, then read it again, see what you’ve still missed.
The listing agent on my current transaction thinks I’m a longtime pro real estate investor because of the thoroughness of my due diligence. Actually, though, it’s my first time doing it plus this book.
It would be dumb not to buy this book. Do you want to be dumb?
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