Critical Dates: Timing is Everything

Jorge Abreu

👉 Multifamily Investor / Owner Operator Helping Busy Professionals Invest in Real Estate 🚀 | Developer & General Contractor | Real Estate Investing Coach - See Below 👇

Published Oct 10, 2024

Meeting critical dates is the key to nailing a successful closing. Trust me; you don't want to miss those crucial dates and risk losing money or even blowing the whole deal. Stay on top of things, stay organized, and track every important date, from due diligence to contract extensions.

Early on, I got myself into some pretty stressful situations. Sometimes I had to beg for extensions because I couldn't finish tasks on time. That's when I realized the importance of staying organized and having a comprehensive checklist.

Closing a deal involves juggling a million things. Paperwork, inspections, and those all-important critical dates for due diligence and closing are just a few examples. It can get overwhelming really quickly. The checklist here acts as a roadmap, ensuring that nothing is overlooked.

Knowing when your due diligence should be completed or when to close or extend your contract is of utmost importance. Missing these dates can have dire consequences.

Schedule third-party inspections early and submit lender applications promptly. These tasks often have long lead times and can cause delays if not addressed promptly. By tackling them early on, you minimize the risk of missing critical dates.

In my experience, closing a deal within a specific timeframe requires meticulous planning. Especially those big deals with loads of equity and loans, they can take forever to close. Start early, raise that equity well in advance, and make sure all those forms and verifications are filled out correctly. As you gain experience and tackle even bigger projects, you'll realize that what once seemed like a mammoth deal becomes totally doable.

When it's crunch time, there is no room for improvisation. Every task must be completed diligently and on time.

If you wing it, you're gonna miss something, you're gonna mess something up.

So, be proactive, stay organized, and keep your power team aligned to ensure a successful closing.

Jorge Abreu