Colonia, NJ · Member since 2015 · 83 posts · 17 votes
Hey everyone,
When you go out to the properties that you are potentially going to make an offer on, what do you look for when you are doing a walk-through. Is there a checklist you believe that will help get a better help on what the property needs and can be improved? How do you manage to catch all the small things ?
Real Estate Agent · Cupertino, CA · Member since 2016 · 4k+ posts · 1k+ votes
8y
Assign a number in the order of importance. Add up total points. There is no such thing as perfect rental. You pick the best over all. -highest points total
Investor · Asbury, NJ · Member since 2015 · 226 posts · 205 votes
8y
Read the book on estimating rehab costs. Take school system into consideration--what are you buying the property for? As a buy and hold rental and expecting to house a family in it? Or to sell to someone with/without kids? Who is the end user of this property and what will they be looking for? Are major systems in place or in need of upgrade? That can get expensive, way beyond just a cosmetic fix up. You will never catch all the small things, every property will surprise you at some point, that is the fun/challenging creative part!