Should i take someone with me on my first property visit?

Question

I've got my LLC created (picking up paperwork next week) and am about to go through the process of speaking to a motivated seller. If I decide that I want to do a walk through prior to that first offer, should I take a contractor with me? Or should I just partner up with an experienced wholesaler to do the walk-through with me?

Josue Vargas · Answer

@Murphy Kling

Do the walk through with a good contractor, not a wholesaler, unless the wholesaler is also a contractor.   Check the references...

Erickson Sainval · Answer

I would have a contractor go through so you can see what your dealing with before offering. I'd take lots of pictures and video if you can. Pen and paper always to write down some note worthy things and prices.

Murphy Kling · Answer

Thanks for the info guys!

Randall Alan · Answer

I would say for a "first look" you could go yourself... to establish, "Is this even a property I am interested in?", "Is this over my head as to how much work it needs?", etc.  Your own eyes will tell you a lot... are the walls crumbling, are there cracks in the foundation, are there water leaks on the ceiling, does the flooring need to be replaced, is there termite poop in the window sills, etc, etc.  Just move slowly through each room and literally just look at what you see.  Sure, you won't see everything that your contractor will, but you will see enough to get a gut impression of "do I want to move forward?".    Keep a running tab of what you think it needs to figure out your repair/replacement costs.  Take notes about questions you might have, and problems you see.  Once you decide you think you like it you can book a contract on it, you then get an inspection period (per your contract).  Usually it's like 10 days.  THEN, you can bring in your inspector, contractor, etc.  If you don't like what they tell you, you can then walk and get your escrow money back, no questions asked.  There is no use in wasting your contractor's time if after 30 seconds you are like, "I don't think so... this place is not for me."

All the best!Randy

Should i take someone with me on my first property visit?

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