Posted by ray@lcorn on November 30, 1999 at 22:20:19:
Good to hear from you, and I am really happy to hear you trying one of the ideas we talked about in the Mobile Home Workshop in Charlotte.
You have all the questions right there in your workbook. Just turn to the section on Acquisitions and use the due diligence list as a guide. Keep going down the list until she says stop (and she will before you get to the end). You need to know all of those things on the list, but the trick is to get as much of the information as soon as possible so you don’t waste yours or her time negotiating a contract the deal can’t support.
Then look at what you’ve got and see if there is a meeting ground between the asking price and what your research says you should pay, and write a contract subject to the the completion of the due diligence items to your satisfaction. Finish the due diligence, get it financed if she won’t do it, and then close!