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Mike Marino on The Importance of Due Diligence in Real Estate Investing | Colorado Springs, CO

Mike Marino | Real Estate

By Mike MarinoPublished 10 months ago 3 min read
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Real estate investing can be a lucrative way to build wealth and generate passive income, but it also comes with inherent risks. Performing due diligence is one of the most critical steps in mitigating those risks. Due diligence is a thorough investigation and analysis of a property or investment opportunity before making a purchase decision.

Minimizes Risk

One of the primary benefits of due diligence is that it helps minimize risk. Investing in real estate is a significant financial commitment, and many factors can impact the value of a property or investment opportunity. By performing due diligence, you can identify potential risks and issues early on, allowing you to make informed decisions and avoid costly mistakes.

Uncovers Hidden Costs

Another essential aspect of due diligence is that it can uncover hidden costs associated with a property or investment opportunity. This includes repairs, renovations, or maintenance expenses that may take time to be apparent. By thoroughly evaluating a property, you can accurately estimate the actual cost of ownership and factor those expenses into your investment analysis.

Ensures Accuracy of Information

When evaluating a property or investment opportunity, ensuring that the information you’re basing your decision on is accurate and reliable is vital. Due diligence helps verify the accuracy of information the seller or broker provides and can help identify any discrepancies or inconsistencies in the information presented.

Helps Negotiate Better Terms

You can also gain leverage in negotiations with the seller or broker by performing due diligence. If issues or risks are uncovered during the due diligence, you can negotiate better terms or a lower purchase price to account for those factors.

Providing Peace of Mind

Performing due diligence can provide peace of mind and confidence in investment decisions. By thoroughly evaluating a property or investment opportunity, you can feel confident that you’re making an informed decision and taking steps to minimize risk and maximize returns.

Due diligence is an essential part of real estate investing. By minimizing risk, uncovering hidden costs, ensuring the accuracy of the information, helping negotiate better terms, and providing peace of mind, due diligence can help investors make informed decisions and build successful real estate portfolios. Whether you’re a seasoned investor or just starting, taking the time to perform due diligence is critical in achieving your investment goals.

This blog was previously published on May 15, 2023 at MikeMarino.orgAbout Mike Marino

Mike Marino is a real estate expert based in Monarch, Colorado. Mike has what one could call an entrepreneurial real estate mindset, meaning that he is exceptionally talented at fusing these two passions into one cohesive career path.

Currently, Mike Marino has a very busy life. He is the Co-Owner of Cash Flow Capital LLC and has been since 2021. Cash Flow Capital is a real estate fund that allows qualified investors to invest passively in Assisted Living Homes and other opportunities. One of Mike’s many responsibilities includes being the underwriter of all real estate deals, ensuring the financial performance of assets, and handling investor relations.

Mike Marino is also the Owner of Clear Above LLC. Clear Above is a real estate investment company in Mike’s hands since 2020. The goal of Clear Above is to provide Airline Pilots with affordable housing options between flights. This goal is near and dear to Mike Marino’s heart, as he has been a pilot for Spirit Airlines since 2017. This gave Mike the insight necessary to understand the importance of companies like Clear Above.

In addition to the roles above, Mike Marino is involved in several other projects. For example, he is the Co-Host of the Cash Flow Guys Podcast. His co-host is Tyler Sheff, and together they host a weekly podcast about investing in the real estate industry. Finally, Mike Marino is the Host of his own YouTube channel, Mike Marino – Pilot Investing. This channel allows Mike to talk to pilots about investing in real estate and more.

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About the Creator

Mike Marino

Mike Marino is a versatile individual with expertise in real estate, entrepreneurship, and piloting. He runs several businesses. Visit MikeMarino.org for more or check him out on Medium at https://medium.com/@michaelmarino-co for more info!

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