BiggerPockets

Ok so I am buying a property that will need a roof repalcement in the near future 6-12 months but who knows to be exact? I checked the attic out and there are no leaks or any signs of it potentially damaging other aspects of the house. I am planning on managing the property myself and since it is my first house I will be there alot probably once or twice a month to check everything. I will virtually inspect basement and attic to make sure no minor problems turn into bigger ones. Should I hold off on the roof if I check on the property a few times a month and wait for a small leak or something to happen? I know this is about maximizing costs and I do not want to put out 7-10k yet if I can get another year out of it. I also know that major problems can turn into big ones if ignored which is why I plan to check on it. The multi already has a tenant living upstairs and the bottom floor can be rented immediately once I tile the bathroom and repaint.. thank you any advice from fellow buy and hold investors or any one!

Should I just repair the roof or replace the whole thing? Of course every roofing place will say you need to replace it

What is wrong with the roof exactly? Just the fact that it's old?

Depends where you are in the country and what type of roof it is. 7k-15k is a standard roof around here. You can bang out ranch style homes for 3-4k, but that is not what I invest it.

Many old houses need a re-deck (plywood is expensive). You said who knows when the roof is going to go? You said 6-12 months. I have been doing this for some time and am not that good.

If you dont have a tenant in, now is for sure the time. If dont do it now, keep the money aside and dont spend it on REI!

That's what I figured I have checked out the attic and there is no sign of it. Something was patched up recently but report said the shingles were damaged and curled on the side. The chimney also needed a repairs on the inspection. But I have a tenant upstairs and it is move in ready

"curled on the side" - I interpret that to mean that they didn't use a drip edge. Shingles can curl downward without a drip edge. What other "damage" is there to the shingles?

it says brick is cracked, mortar deterioated, spailing on brick in attic, needs repairs and rebuilt by quality contractor...

Curled and lifting could mean bad decking now. As Steve mentioned, along the edges could be that there is no drip edge or that the last ice dam lifted the edges and they are so old they won't lay down. But if that problem is in the field of the roof it might not leak only because the felt is protecting the decking. If nails are popping up you will likely have rot in the decking, not just a new shingle job any longer..

The chimney sounds like it really needs attention if the appraisal or what ever report you're reading states that it needs professional attention, doesn't sound like a point tucking issue any longer! Bricks crack and the facings flake off and that usually is not a serious problem, but if you can move them that means you could have air infiltration which can effect the draft causing problems and being a safety issue. It may need to be rebuilt.....if that is the case I might suggest you consider a zero clearence insert with new metal chimney pipe that you can box in with a wood frame. I use concrete board inside the wood frames of metal chimney rehabs and masonry caulk sealing off the inside from any wood, just in case. Good luck.

Ok that was my orginal plan is to check it out and only make the repairs when the leaks start to happen otherwise it seems to really kill my cash flow. I already will put aside 100 each month for maintence to plan for a new roof in the future but I didn't know if it makes sense to replace the whole thing were talking 10k and the house is livable with no repairs, also on the chimney I have no idea on to how I can keep that cost down too thanks

Both of these need to be replaced. Do it right the first time so you don't end up needing an emergency roof or have a ton of damage and need to replace a ton of drywall and insulation.

If you live in a big city, you will likely have a code violation for having curling shingles.