DUE DILIGENCE SAVED US: The Unit They Didn’t Want Us to See
One of the biggest lessons I’ve learned in multifamily: sellers and property management won’t always volunteer the full story. We had a deal under contract. During the walk, we found a unit that was completely destroyed — vandalized, burned, everything you could do to a unit had been done. What stood out wasn’t just the damage. It was that it wasn’t disclosed, and property management tried to keep us from going into that unit. That’s why due diligence matters. Not because you’re trying to kill a deal, but because you’re protecting your investors and your downside. My takeaway: If they don’t want to show it, it’s probably important. What’s the biggest red flag you’ve seen during a property walk?