Before diving in, I do want to make note of the fact that due diligence services exist. In fact, it’s something that I offer! If you want an experienced professional to look over a website that you’re about to buy, utilizing a due diligence service would benefit you.
These services analyze a website much like a home inspector would perform an analysis of a home you’re about to buy. They would look at many different aspects of a website, take note of what’s healthy and what’s not, and give you a neat report that lays out strengths, weaknesses, and areas of opportunity.
For big deals spanning $100,000, these services start to become justified as an investment that size has a lot of downside potential.
However, for what we’re looking to do, you’re more than capable of performing due diligence yourself.
Additionally, most of the websites we’re going to be buying will be purchased quickly, meaning that you don’t really have the time to wait for a due diligence service to perform an analysis. You need to act fast.
If you’re starting to scale your investing business, investing in an in-house person that performs due-diligence on assets that you’re looking to buy in order to speed up the process and cut down on time wouldn’t be a terrible idea. Or, better yet, just perform the due diligence yourself! As I’ve said previously, it’s one of the most important steps of this process, and it doesn’t take much time to perform well.