Definition

The period where you pretend to be a detective, an engineer, and an accountant all at once to figure out if a property is a goldmine or a money pit. Spoiler: it's usually somewhere between "fine" and "oh no."

Example Usage

"I did my due diligence. I Googled the address, checked if it was haunted, and asked my uncle who once watched an episode of This Old House." - A very thorough buyer

Related Terms

Intermediate

undervaluing

The accounting sin of assigning too low a value to an asset, which is either conservative prudence or creative bookkeeping depending on who's doing it and why. Companies engage in undervaluing to lower tax bills or appear more modest, while investors do it to snag bargains. It's the opposite of the more common corporate tendency to overvalue everything and pretend problems don't exist.

💰 Finance / Accounting
Intermediate

rezoning

When city planners wave their magic zoning wands and declare that your neighbor's residential lot can suddenly become a mini-mall, or vice versa. It's the bureaucratic process of changing what you're legally allowed to do with a piece of land, often involving endless public meetings where everyone argues about traffic and property values. Democracy in action, one variance hearing at a time.

🏠 Real Estate
Beginner

entrepreneurial

Having the qualities of someone who starts businesses, takes risks, and believes their idea will totally disrupt an industry despite statistical odds suggesting otherwise. It's the adjective form of optimistic delusion mixed with genuine innovation and an unhealthy comfort with uncertainty. Basically, it describes people who see opportunities where normal humans see reasons to keep their day job.

🚀 Startup / VC
Intermediate

runway fumes

The terrifying state of having mere weeks of cash remaining, when every expense is scrutinized and founders start drafting layoff announcements. The financial equivalent of flying on empty while the engine sputters.

🚀 Startup / VC
Intermediate

managerial accounting

Internal accounting focused on providing information for management decisions rather than external reporting. Unlike financial accounting's rigid rules, managerial accounting embraces whatever analysis helps executives decide which division to blame for poor performance.

💰 Finance / Accounting
Advanced

Piercing the Corporate Veil

When courts hold shareholders personally liable for corporate debts by ignoring the legal separation between company and owners. It's what happens when you treat your LLC like a personal piggy bank.

💰 Finance / Accounting

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