BiggerPockets

Ok, so I was scanning Craigslist and came across an ad that basically went like this.

"Are you an out of town investor? Want to buy property but don't want to jump on a plane in order to see it? Let me help you! For $75 I will view the property and take a ton of photos to show to you. I will also give you my opinion (if you want it) of the condition of the property.

Don't rely on just a few RE agent photos from the listing! I will show you detailed photos of almost every square inch of the property in high resolution so you have a much better idea of what condition it is in. Please note that I am not a RE agent."

I thought this was actually a pretty neat idea and quite a business prospect for someone. Think about it...all they would need to do is schedule a showing, take a TON of photos, upload them to a web site where the potential buyer and view and make $ doing it. If they were in a popular buying area they might do 2 walk throughs a week. Not too shabby little side income. Plus you wouldn't have to be a RE agent as it would just be a service.

Anyway, just thought I'd pass this along and maybe it will spur someone's creative juices on here. I'd do it but I don't know if there are investors that want to invest in our area or not. If so give me a hollar...I take Paypal LOL!

Kel,

That's actually very creative of the investor. If you can actually trust the person, could be a great idea.

Of course they would need references and once you built up some clientele you'd have that. There is always going to be mistrust in just about anything. If you were in contact with the RE agent who showed the home I think they would tell you if your guy (or gal) took a bunch of pictures while there.

I don't know...I still think it's a great concept and if I were looking for a place out-of-state I would certainly consider hiring someone to go take a ton of pics for me. Not sure a RE agent would be up for going that extra mile as it takes time to upload, put descriptions, etc., for a ton of pictures. Plus you'd need server space to do it on.

Anyway, just thought I'd pass it along (:

@financeexaminer, the ad only said he would give an opnion of the condition of the property, not his opinion of the value. I don't buy out of town but if I did, I would use someone like this!

No where does he state he'd give opinion on value, just condition. You don't have to be a RE agent to give your opinion on condition.

Let's not make this more than it is guys. This seems like a fine service for this guy to provide in trade for a little money. I am sure he isn't claiming to be a structural engineer or anything.

Geez!

My point is that the thread is about another way to make money in RE. Before some newbie runs off with a camera and a copy of A.M. Best, check with the legal requirements for a given profession might be.

Just wait til the guy says the hosue appears to be in good condition overall and then a roof caves in from a light snow load and he gets sued. For the judge to ask what expertise he hase or what licens he holds is not a stretch of the imagination at all!

There are already way too many people out there claiming to have expertise in real estate subjects with their hand out for a fee without leading the unknowing or unaware into another bogus profit center.

I realize that popping the dream balloons or raining on the "investor" parade is not a popular thing to do and most don't want to hear anyone say "you can't do that" but that's the way it is! Better me telling someone than someone getting into trouble, especially for trying to earn a measly $75 for an opinion. Later....

J. you're usually skiptical due to the lack of experience in the ways people get in trouble in this business. If your contractor is givng an opinion, it's probably from the stand point of being a licensed contractor, not a problem.

Spend some time and look up the requirements for all the related professions in the real estate industry and what licens is required.

Then look up fraud cases, scams and issues where people were acting in the capacity of some profession and charging a fee and the liability they had and outcome for performing services without the proper license.

I don't know if the guy who advertised is a starving engineer or not, he did not say. Anyone can take a picture, not just anyone can give advice concerning the condition of realproperty. Like it or not, that is the way it is. Period, my friend.

Until we get an attorney on this thread, there is no need to comment on any rants. Get a legal opinion.

Nope, I'm skeptical when someone who has no legal training tells me something is illegal, but the fact that it being illegal defies common sense...as this does...and then is unable to substantiate the claim with statute or precedent...

Bill - I have a ton of respect for your opinion and your contributions on this site (honestly and sincerely), and you clearly have a lot of great experience.

But, you do have a habit of making legal claims without substantiation...it's a pet peeve of mine...

If your contractor is givng an opinion, it's probably from the stand point of being a licensed contractor, not a problem.

Again, most contractors are unlicensed (in my state, you only need to be licensed in certain specialties, otherwise it's perfectly legal to be unlicensed)...so, are the hundreds of thousands of unlicensed (but legal) contractors in this country breaking the law every time they they give a bid?

My guess is that if your statement is true, the law is being broken millions of times per week!

Sorry, that doesn't pass the "common sense" test...at least not to me...

I think this is a good service and there is nothing wrong with it, legal or otherwise. That said, knowing the condition (by the "photographers opinion) is no substitute for knowing the market conditions of the area, so this service is ONLY good for getting a feel for the target property condition and nothing more. More DD would have to be completed.
Will Barnard