There seems to be a lot of information about what kind of property is better for investing, what methods should be used, what the numbers should be, and the such but I'm having a hard time finding information about what things to look out for when at the property (or looking at pictures on the sites) and what questions should be asked of the agent/owner?
From my newbie eyes, some of the properties I see on zillow, redfin, trulia, etc seem ok? Minor touch ups may be necessary but nothing deal breaking I would think. But I'm pretty sure I'm missing a lot. And if I go to the house I'm sure it'll be clearer but I'm thinking there are other things to look out for?
As for the questions, what are questions I should definitely be asking to make sure everything is in order? Am I allowed to talk to tenants if they're present? Am I allowed to ask for proof that the tenants are paying properly and on time?
If there's a guide somewhere I'd be grateful if someone could point me in the right direction.
Sorry for the (probably) dumb questions
Hello Danny! Look and ask about things that would be a major cost. Like the roof, A/C, type of electrical wiring, water heaters, garage existence and attached or detached, fencing, windows, flooring type throughout, concrete slab or pier and beam foundation. Of course use an experienced inspector with that as a way to delete your contract. The condition of the kitchen and bathrooms, outside concrete work and the condition of a possible front porch, exterior brick or siding repairs, is the exterior landscaping OK, closet space, any drywall repairs or painting. Does it need replacement now or later(age). New or old electrical main box and does it meet current code. Smoke detectors. Is Building Inspection people know of any known problems? Does it have curb appeal? I probably left some things out. The bottom line is the overall condition, especially near term repairs and soon to be made. Good luck!
@Michael Lewis Lee Thank you for the response! I will definitely be asking about all of that. Would an owner really know about the beam type of foundation? And what difference does it make if a garage is attached or detached?