Of course you want to minimize your expenses throughout the entire acquisition process, especially during the first thirty days of the due diligence. In reality, you may end up going through the property inspection process several times before you find the property that you are eventually going to own, so best to keep your costs as low as possible every time you evaluate a dealHere’s the first rule: Don’t write a check during the first two weeks of the due diligence process except for the earnest money deposit – but that’s a given.Just don’t do it.
There appears to be a small window of opportunity according to the latest Quarterly Market Trends report released by the CCIM Institute; but as all markets eventually change, so will interest rates. The time to act is now.
“As to interest rates, there is no further room to move down. The change will be in only one direction, and that’s up. The only question is, by how much and how fast? The Federal Reserve has publicly stated its desire to hold the short-term borrowing costs at essentially zero till 2015, or at least until the unemployment rate gets down to more desirable levels (to 6 percent and change). Low inflation is fortunately permitting the Fed to pursue ultra-loose monetary policy.”