First property inspection. PLEASE HELP ME OUT - Posted by R. Holmes

Real Estate Investing Real Estate Gurus
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Posted by R. Holmes on December 16, 1998 at 24:25:35:

Thanks for the advice I have a second house to look at pretty soon I may pay a professional inspector to go with me so I can do what you did. Can you recommend any books on inspection that a beginner would be able to understand and use. Nothing too long and involved, just the basics. Thanks again

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First property inspection. PLEASE HELP ME OUT - Posted by R. Holmes

Posted by R. Holmes on December 14, 1998 at 21:59:32:

I just finished the Russ Whitney course and using the methods helped me find a duplex I think is a bargain for the condition it is described as being in. This is my first property inspection and purchase. A gentleman I know who is very handy will go with me to help me out. His function will be to evaluate the work that needs to be done and to estimate the cost at which he could do that work for me. I need to be more self sufficient but don’t know anything about repair or evaluation of the condition of property.

If a seasoned investor or even a skilled novice would e-mail me a list of the items to check and what to look for when I check those items I would be eternally grateful. This would allow me to go and evaluate more property by myself. Comments posted here are also welcome. I need something in the next few days,if possible, I view the property Thursday. I’ll be evaluating mostly duplexes and small 3 or 4 unit buildings in the future.

Some specific questions

  1. What if I can’t get to the roof to see it, and if I can what am I looking for up there?
  2. When I check the furnace what am I looking for?
  3. When checking plumbing is there anything beyond flushing toilets and running water that I need to do?
  4. Aside from rotten wood how do I tell if there is termite damage?
  5. If the electricity is currently off how do I know if it is in good working order?

Pesonal comment: I’ve read this page for a long time and posted once or twice with a question and I think this page is the best :slight_smile:

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Re: First property inspection. PLEASE HELP ME OUT - Posted by Mike (KCMO)

Posted by Mike (KCMO) on December 15, 1998 at 20:49:51:

Here’s a couple of things that have worked for me:

Since I don’t heal as fast as I used to, I try to stay off roofs. You can usually tell the general condition by looking in the attic and checking the exterior using a pair of binoculars. When in doubt, the yellow pages have any number of roofers who could give you an “estimate”.
Personally, I have had several properties inspected by a professional for termites, and have never had to pay a dime for it. If you want to pay a premium for your education, you can hire a professional inspector and follow him around watching and asking questions. I did this on my first duplex and learned a lot at a cost of $110. There are also some good books on property inspection that you should be studying for the future. Meanwhile, rely on the pros until you become comfortable doing these things for yourself.

I hope this helps – Good luck on your first purchase!

Mike

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Re: First property inspection. PLEASE HELP ME OUT - Posted by Russ Sims(WA)

Posted by Russ Sims(WA) on December 15, 1998 at 01:12:42:

Just a quick note about things like heaters and electricity and plumbing. Often a vacant house will have all of these things out of commision: No gas, water or electricity. You simply can’t check 'em. Make sure your purchase agreement requires that the seller warrant these items.Here is a clause modified from a Carleton Sheets purchase contract:Seller certifies that they know of no latent defect in the property. All heating, plumbing, electrical, and appliances shall be in good working order at the time of closing.

This should give you some recourse if things don’t work upon occupation…