Improving neighborhoods one house at a time!

You can do everything right on six consecutive deals but if you are sloppy with the due diligence on the seventh, the consequences could be severe. As basic as it sounds, it is important to always keep the flow of profits moving in the right direction. Making a small profit on a deal is always better than taking a loss. The most common cause for getting involved in a bad deal is often sloppy due diligence.

Due diligence must be considered a necessary evil. You need to have the same systems and routine on every deal you look at. The minute you become lazy, or sloppy, you increase the chances of overlooking a glaring item that could end up making the difference between success and disappointment. Never get involved in a bad property simply because you didn’t put the work in. Here are five due diligence areas you should review before your next prospective deal.

  1. Market comps. Everything in real estate is based on comparable sales. There are times when you will get a deal that on the surface looks too good to be true. Instead of overreacting or getting too excited you should let the data act as a guide. Look at the sales in the market over the past 90 days. The closer the sales, the more accurate they will be. However, proximity isn’t the only item to look for. You need to account for the size, style, bedroom count and age of the comparable against the subject. If you are comparing apples to oranges, you may not have the value you perceive. The same is the case with outdated comps. A sale that happened six months ago isn’t a true representation of what is going on in the market today. Your ability to break down the market and analyze comparable sales will give you a true reflection of the market, and your subject property value.
  2. Value potential. The goal of any investment is to realize a profit. You are not looking to add properties to your portfolio, but to make money on them. Regardless of the purchase price, or the perceived discount, you need to look for ways to add value. Sometimes you will walk into a property and this will be a slam dunk. The kitchen is outdated, the quality is poor, and the layout can be improved. Other times you need to think outside the box and be a little creative in your workup. With any improvements you have in mind you need to attach a correlating cost of repairs. Changing everything on a property sounds great, but if the expenses outweigh the return the property doesn’t make too much sense. This is generally where new investors run into trouble. They underestimate just how much updates and upgrades cost or they suppress these items because they want to get the property and try to make it work. By doing this all you are doing is delaying the inevitable and getting involved in a property that is not worth the time.
  3. After repair value. All improvements are not created equally. Improving a property in a desolate market, will not have the same impact as it would in a thriving area. As much as looking at sales can act as a guide when making an offer, it also helps you know what you are working with on the back end. You won’t realize a profit until you sell the property. If your estimated value is not in line with the market, your profit margin will shrink, or be eliminated if you miss your mark badly enough. As is the case when you buy, you need to make sure you are comparing apples to apples. You should look at every property that has sold in the last 90-120 days and see if there are any recurring themes or trends. Use these to your advantage and put them in your property. Any way you can create value and improve your after-repair value should be explored.
  4. Seller motivation. It is essential to know where you always stand in negotiation. This will directly influence your offer and how you shape it. A seller that is motivated by foreclosure or relocation will be more apt to negotiate than one who doesn’t have to move. This must be taken into account when you present your offer, and with every subsequent counter offer. You also need to gauge the competition for the property. If the property is in high demand you should expect to compete with several offers. If you don’t adjust your offer accordingly you will have no chance of getting the property.
  5. Sales problems/timeline. Once you think you know the property, the market and the seller you need to consider any items you may have missed. Always start with an evaluation of the town. Are there any potential problem areas with town hall, inspections or rental application licenses? Next, think if there will be any problems with the seller, for instance. Bank owned properties present different concerns than transactions done by a traditional seller. Finally, you need to consider the timeline of the sale. A sale done in 15 days is much different than one done in 60. Markets and economic conditions can change quite a bit over the course of two months.

By treating every prospective deal and property the same you reduce the chances of something slipping through the cracks. At a minimum, always review these five areas before getting involved with your next property.

Privacy Policy

Your privacy is very important to us. Accordingly, we have developed this Policy in order for you to understand how we collect, use, communicate and make use of personal information. The following outlines our Privacy Policy.

This privacy notice applies solely to information collected by this website. It will notify you of the following:

  1. What personally identifiable information is collected from you through the website, how it is used and with whom it may be shared.
  2. What choices are available to you regarding the use of your data.
  3. The security procedures in place to protect the misuse of your information.
  4. How you can correct any inaccuracies in the information.

Information Collection, Use, and Sharing
We are the sole owners of the information collected on this site. We only have access to/collect information that you voluntarily give us via email or other direct contact from you.  We will not sell or rent this information to anyone.

We will use your information to respond to you, regarding the reason you contacted us. We will not share your information with any third party outside of our organization, other than as necessary to fulfill your request.

Unless you ask us not to, we may contact you via email in the future to tell you about specials, new products or services, or changes to this privacy policy.

Your Access to and Control Over Information
You may opt out of any future contacts from us at any time. You can do the following at any time by contacting us via the contact page or phone number given on our website:

  • See what data we have about you, if any.
  • Change/correct any data we have about you.
  • Have us delete any data we have about you.
  • Express any concern you have about our use of your data.

Security
We take precautions to protect your information. When you submit sensitive information via the website, your information is protected both online and offline.

Wherever we collect sensitive information (such as credit card data), that information is encrypted and transmitted to us in a secure way. You can verify this by looking for a lock icon in the address bar and looking for “https” at the beginning of the address of the Web page.

While we use encryption to protect sensitive information transmitted online, we also protect your information offline. Only employees who need the information to perform a specific job (for example, billing or customer service) are granted access to personally identifiable information. The computers/servers in which we store personally identifiable information are kept in a secure environment.

If you feel that we are not abiding by this privacy policy, you should contact us immediately via the contact form on our website.

Cookies
We use “cookies” on this site.  A cookie is a piece of data stored on a site visitor’s hard drive to help us improve your access to our site and identify repeat visitors to our site. For instance, when we use a cookie to identify you, you would not have to log in a password more than once, thereby saving time while on our site. Cookies can also enable us to track and target the interests of our users to enhance the experience on our site. Usage of a cookie is in no way linked to any personally identifiable information on our site.

Third-party disclosure

We do not sell, trade, or otherwise transfer to outside parties your Personally Identifiable Information unless we provide users with advance notice. This does not include website hosting partners and other parties who assist us in operating our website, conducting our business, or serving our users, so long as those parties agree to keep this information confidential. We may also release information when it’s release is appropriate to comply with the law, enforce our site policies, or protect ours or others’ rights, property or safety.

However, non-personally identifiable visitor information may be provided to other parties for marketing, advertising, or other uses.

Third-party links

Occasionally, at our discretion, we may include or offer third-party products or services on our website. These third-party sites have separate and independent privacy policies. We therefore have no responsibility or liability for the content and activities of these linked sites. Nonetheless, we seek to protect the integrity of our site and welcome any feedback about these sites.

Google

Google’s advertising requirements can be summed up by Google’s Advertising Principles. They are put in place to provide a positive experience for users. https://support.google.com/adwordspolicy/answer/1316548?hl=en

We have not enabled Google AdSense on our site but we may do so in the future.

California Online Privacy Protection Act

CalOPPA is the first state law in the nation to require commercial websites and online services to post a privacy policy. The law’s reach stretches well beyond California to require any person or company in the United States (and conceivably the world) that operates websites collecting Personally Identifiable Information from California consumers to post a conspicuous privacy policy on its website stating exactly the information being collected and those individuals or companies with whom it is being shared. – See more at: http://consumercal.org/california-online-privacy-protection-act-caloppa/#sthash.0FdRbT51.dpuf

According to CalOPPA, we agree to the following:

Users can visit our site anonymously.

Once this privacy policy is created, we will add a link to it on our home page or as a minimum, on the first significant page after entering our website.

Our Privacy Policy link includes the word ‘Privacy’ and can easily be found on the page specified above.

You will be notified of any Privacy Policy changes:

• On our Privacy Policy Page

Can change your personal information:

• By emailing us

How does our site handle Do Not Track signals?

We honor Do Not Track signals and Do Not Track, plant cookies, or use advertising when a Do Not Track (DNT) browser mechanism is in place.

Does our site allow third-party behavioral tracking?

It’s also important to note that we allow third-party behavioral tracking

COPPA (Children Online Privacy Protection Act)

When it comes to the collection of personal information from children under the age of 13 years old, the Children’s Online Privacy Protection Act (COPPA) puts parents in control. The Federal Trade Commission, United States’ consumer protection agency, enforces the COPPA Rule, which spells out what operators of websites and online services must do to protect children’s privacy and safety online.

We do not specifically market to children under the age of 13 years old.

Fair Information Practices

The Fair Information Practices Principles form the backbone of privacy law in the United States and the concepts they include have played a significant role in the development of data protection laws around the globe. Understanding the Fair Information Practice Principles and how they should be implemented is critical to comply with the various privacy laws that protect personal information.

In order to be in line with Fair Information Practices we will take the following responsive action, should a data breach occur:

We will notify you via email within 7 business days.

We also agree to the Individual Redress Principle which requires that individuals have the right to legally pursue enforceable rights against data collectors and processors who fail to adhere to the law. This principle requires not only that individuals have enforceable rights against data users, but also that individuals have recourse to courts or government agencies to investigate and/or prosecute non-compliance by data processors.

About Us

We are Premiere Property Buyers, real estate investors who specialize in providing solutions to real estate problems.

We help homeowners who need to sell their houses quickly in El Paso, Texasor surrounding areas by providing creative options that are not available using conventional means.

Because everyone’s situation is unique, we customize solutions for every client we have.

Premiere Property Buyers

El Paso, Texas