Potential buy and hold without occupant in years

[Selby Johnson]

Hello,

I have  a potential buy and hold as my true introduction to real estate investing in an up-and-coming neighborhood that has not supposedly been occupied in 15-20 years. In terms of inspection, first is there anything I should particularly be aware of when choosing an inspector? Secondly, this is a pier and beam foundation - should I spend the money and get hydrostatic testing prior to purchase of the home? Lastly, what can be done about testing electrical within the house?

Appreciate any advice!

[Aaron Francl]

@Selby Johnson I would echo @Jordan Moorhead and I wouldn't necessarily not push forward just due to the circumstances you mention.

This sounds like an off-market opportunity, so, take your time, do all the due diligence you need and make sure you understand the cost associated with fixes. Finally, as importantly as cost, make sure you have a clear picture of the ARV (after repair value).

I'd be happy to share with you a great inspector I work with often. Make sure they have the building's systems (electrical, plumbing) operational when you do inspect or walk the property. If you think it warrants serious consideration, it's also worth paying a contractor to walk through with you to help you evaluate and price out the work you need.

Good luck!