Rental Property Investor · San Antonio, TX · Member since 2019 · 20 posts · 3 votes
I've just started making offers on houses to flip, and so far I've been beaten out by other investors who are waiving an inspection. Am I shooting myself in the foot by requiring an inspection before purchasing the property or are the other investors being careless in not getting an inspection done?
Investor · Topeka, KS · Member since 2015 · 1k+ posts · 1k+ votes
6y
It comes down to your knowledge vs theirs. They may be more experienced and can walk into a property and assess what the remodel will take. If you can't do that then you need to have a professional do it for you.
We do the same thing, we don't require inspections because we have the experience, cash, and connections to handle whatever might happen.
You will get that way as well, but it will take time. The first purchase is always the hardest and most risky.