inspection report - estimate needed
New to Real Estate · St. Petersburg, FL · Member since 2019 · 10 posts · 6 votes
inspection report - estimate needed
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Investor · Clairemont, CA · Member since 2011 · 3k+ posts · 2k+ votes
3yQuote from @Erica Allen:
@Carlos Ptriawan and @Theresa Harris @Bruce Woodruff I didn't order the inspection... it was already performed on the property. I called handymen and GCs suggested by real estate agent and property manager I'm working with. They wouldn't look because I don't own the property. Sounds like I am in need of a more reliable "team" during my search
So you need to call up one of those guys and ask this question: "What would you charge me to have you look over this inspection report and give me a rough SOW and cost based upon it? This tells them first of all that you value their time, and second of all that you will put your money where your mouth is. Remember there are 1,000 OOS investors just like you asking them to do something for nothing...be the one, the one that isn't just going to waste their time.
33 Replies
- 3yTheresa HarrisPro MemberMember since 2019 · 15k+ posts · 11k+ votes
Your home inspector should have a ball park estimate and be knowledgeable in that area. What sort of things are you trying to get estimates for?
- Real Estate Consultant · Cleveland · Member since 2020 · 6k+ posts · 3k+ votes3y
Quote from @Erica Allen:
I've been searching for my first investment property primarily in the Cleveland area. The property I am considering purchasing has an inspection report but I don't know how to get an estimate of cost for the recommended repairs. Every company I've called "can't help" because I don't own the home... Suggestions for HOW you guys estimate these things regularly and/or someone in Cleveland who can help? Thanks
Inspection report never got an inspection and have done about 500 deals there. All you need is a team in place to handle all for you. I live on the beach in FL and do all my business there. BTW you and only YOU should know the cost of all repairs, give or take a few bux.....I know dozens of investors from around the world that buy in Cleveland and never had an inspector walk it. Its ALL about your team and knowledge
Good luck
- Real Estate Consultant · Cleveland · Member since 2020 · 6k+ posts · 3k+ votes3y
Quote from @Theresa Harris:
Your home inspector should have a ball park estimate and be knowledgeable in that area. What sort of things are you trying to get estimates for?
they will not get involved with pricing,
- New to Real Estate · St. Petersburg, FL · Member since 2019 · 10 posts · 6 votes3y
The house already had an inspection report on it... so how do you estimate the cost of the repairs when you look at a deal in general? I also live on the beach in Florida and have no frame of reference for costs for these things in Ohio... if you have any suggestions for connecting with those in the area, please let me know.
- Investor · Member since 2020 · 337 posts · 213 votes3y
Quote from @Erica Allen:
The house already had an inspection report on it... so how do you estimate the cost of the repairs when you look at a deal in general? I also live on the beach in Florida and have no frame of reference for costs for these things in Ohio... if you have any suggestions for connecting with those in the area, please let me know.
What does your team consist of? They should be the ones helping you with the potential cost of repairs.
- 3yBruce WoodruffPro MemberContractor/Investor/Consultant · San Diego / Phoenix · Member since 2021 · 12k+ posts · 15k+ votes
Correct that most Home Inspectors will not want to get involved in pricing out repairs (liability). You'll need to hire a GC to look at the report and hopefully the house, to give you some rough numbers....some good ole boys can just do it looking at the report and pictures....
- Member since 2019 · 7k+ posts · 4k+ votes3y
Quote from @Erica Allen:
The house already had an inspection report on it... so how do you estimate the cost of the repairs when you look at a deal in general? I also live on the beach in Florida and have no frame of reference for costs for these things in Ohio... if you have any suggestions for connecting with those in the area, please let me know.
send it to me so I can take a look.
- 3yBruce WoodruffPro MemberContractor/Investor/Consultant · San Diego / Phoenix · Member since 2021 · 12k+ posts · 15k+ votes
Quote from @Carlos Ptriawan:
Quote from @Erica Allen:
The house already had an inspection report on it... so how do you estimate the cost of the repairs when you look at a deal in general? I also live on the beach in Florida and have no frame of reference for costs for these things in Ohio... if you have any suggestions for connecting with those in the area, please let me know.
send it to me so I can take a look.
I'll take a look as well...
- Member since 2019 · 7k+ posts · 4k+ votes3y
Quote from @Bob S.:
Quote from @Theresa Harris:
Your home inspector should have a ball park estimate and be knowledgeable in that area. What sort of things are you trying to get estimates for?
they will not get involved with pricing,
if they got involved in pricing there would be conflict of interest obviously.
Inspection report should be just guideline, but prior of receiving the report one should have general idea about the cost which one is impactful and which other one you could skip. - New to Real Estate · St. Petersburg, FL · Member since 2019 · 10 posts · 6 votes3y
@Carlos Ptriawan and @Theresa Harris @Bruce Woodruff I didn't order the inspection... it was already performed on the property. I called handymen and GCs suggested by real estate agent and property manager I'm working with. They wouldn't look because I don't own the property. Sounds like I am in need of a more reliable "team" during my search
- Member since 2019 · 7k+ posts · 4k+ votes3y
no you dont even need a team.
Just send me the freaking inspection report LOL
I used to analyze 30 inspection per day before I decide which home I want to get a bid.
You don't need a team or something like that, it's just basic knowledge - Real Estate Consultant · Cleveland · Member since 2020 · 6k+ posts · 3k+ votes3yCorrect, all you need is a member of your team to view for you. I live on the beach and do all my business there. Heck I just renovated, 7 properties in the last 3 weeks and will sell/ flip them, again, all while on the beach,,,,,,, Its ALL about your team and knowledge.
Quote from @Erica Allen:
@Carlos Ptriawan and @Theresa Harris @Bruce Woodruff I didn't order the inspection... it was already performed on the property. I called handymen and GCs suggested by real estate agent and property manager I'm working with. They wouldn't look because I don't own the property. Sounds like I am in need of a more reliable "team" during my search
- Investor · Clairemont, CA · Member since 2011 · 3k+ posts · 2k+ votes3yI'll tell you what they are saying without saying it...especially in an OOS investor heavy market like Cleveland. "I don't want to waste my time giving you a bid for a property you might not even buy because if I did that I'd never work and actually make money because of dealing with all you OOS yahoos. I might not even get the work if you own it, but you don't even know if you want this house yet."
Quote from @Erica Allen:
@Carlos Ptriawan and @Theresa Harris @Bruce Woodruff I didn't order the inspection... it was already performed on the property. I called handymen and GCs suggested by real estate agent and property manager I'm working with. They wouldn't look because I don't own the property. Sounds like I am in need of a more reliable "team" during my search
So you need to call up one of those guys and ask this question: "What would you charge me to have you look over this inspection report and give me a rough SOW and cost based upon it? This tells them first of all that you value their time, and second of all that you will put your money where your mouth is. Remember there are 1,000 OOS investors just like you asking them to do something for nothing...be the one, the one that isn't just going to waste their time. - 3yMichael SmytheBusiness MemberReal Estate Agent · Metro Detroit · Member since 2023 · 4k+ posts · 3k+ votes
No one wants to work for free, especially when you don't own the property - which means you probably won't buy it and they are wasting their time.
How much are you offering to pay to get an estimate?
Logical Property Management4.9446 Reviews - Real Estate Broker · Cleveland Dayton Cincinnati Toledo Columbus & Akron, OH · Member since 2013 · 30k+ posts · 20k+ votes3y
Quote from @Matt Devincenzo:
I'll tell you what they are saying without saying it...especially in an OOS investor heavy market like Cleveland. "I don't want to waste my time giving you a bid for a property you might not even buy because if I did that I'd never work and actually make money because of dealing with all you OOS yahoos. I might not even get the work if you own it, but you don't even know if you want this house yet."Quote from @Erica Allen:
@Carlos Ptriawan and @Theresa Harris @Bruce Woodruff I didn't order the inspection... it was already performed on the property. I called handymen and GCs suggested by real estate agent and property manager I'm working with. They wouldn't look because I don't own the property. Sounds like I am in need of a more reliable "team" during my search
So you need to call up one of those guys and ask this question: "What would you charge me to have you look over this inspection report and give me a rough SOW and cost based upon it? This tells them first of all that you value their time, and second of all that you will put your money where your mouth is. Remember there are 1,000 OOS investors just like you asking them to do something for nothing...be the one, the one that isn't just going to waste their time.Yea, this is all spot on. Folks go on BP and then read all this crap about getting 3 bids for every job and think that there will be all these contractors begging for their business.
Lol, doesn't work like this out here in Cleveland. To get a bid expect to pay a GC as much, or more, than what you'd pay a home inspector for a home inspection.
- Investor · DFW · Member since 2022 · 36 posts · 24 votes3y
This service has helped me in the past to gauge an estimate of a repair price range for action items on the inspection report.
- 3yTheresa HarrisPro MemberMember since 2019 · 15k+ posts · 11k+ votes
Quote from @Erica Allen:
@Carlos Ptriawan and @Theresa Harris @Bruce Woodruff I didn't order the inspection... it was already performed on the property. I called handymen and GCs suggested by real estate agent and property manager I'm working with. They wouldn't look because I don't own the property. Sounds like I am in need of a more reliable "team" during my search
If it was paid for by the seller, I'd have my own inspection done. You can call someone and ask for a ball park price based on a description. No need to tell them you are buying a property and that is why you are asking.
- Member since 2019 · 7k+ posts · 4k+ votes3y
Quote from @James Wise:
Quote from @Matt Devincenzo:
I'll tell you what they are saying without saying it...especially in an OOS investor heavy market like Cleveland. "I don't want to waste my time giving you a bid for a property you might not even buy because if I did that I'd never work and actually make money because of dealing with all you OOS yahoos. I might not even get the work if you own it, but you don't even know if you want this house yet."Quote from @Erica Allen:
@Carlos Ptriawan and @Theresa Harris @Bruce Woodruff I didn't order the inspection... it was already performed on the property. I called handymen and GCs suggested by real estate agent and property manager I'm working with. They wouldn't look because I don't own the property. Sounds like I am in need of a more reliable "team" during my search
So you need to call up one of those guys and ask this question: "What would you charge me to have you look over this inspection report and give me a rough SOW and cost based upon it? This tells them first of all that you value their time, and second of all that you will put your money where your mouth is. Remember there are 1,000 OOS investors just like you asking them to do something for nothing...be the one, the one that isn't just going to waste their time.Yea, this is all spot on. Folks go on BP and then read all this crap about getting 3 bids for every job and think that there will be all these contractors begging for their business.
Lol, doesn't work like this out here in Cleveland. To get a bid expect to pay a GC as much, or more, than what you'd pay a home inspector for a home inspection.
Yea lol
sometimes , we need to pay the GC to visit the house lol that’s why I no longer invest OOO
but truly the inspection report could give OP a ballpark number .
this team thing also doesn’t exist when you have PM lol, have you even contact local PM yet ? - 3yBruce WoodruffPro MemberContractor/Investor/Consultant · San Diego / Phoenix · Member since 2021 · 12k+ posts · 15k+ votesSpot On!!! ^^^
Quote from @Matt Devincenzo:
I'll tell you what they are saying without saying it...especially in an OOS investor heavy market like Cleveland. "I don't want to waste my time giving you a bid for a property you might not even buy because if I did that I'd never work and actually make money because of dealing with all you OOS yahoos. I might not even get the work if you own it, but you don't even know if you want this house yet."Quote from @Erica Allen:
@Carlos Ptriawan and @Theresa Harris @Bruce Woodruff I didn't order the inspection... it was already performed on the property. I called handymen and GCs suggested by real estate agent and property manager I'm working with. They wouldn't look because I don't own the property. Sounds like I am in need of a more reliable "team" during my search
So you need to call up one of those guys and ask this question: "What would you charge me to have you look over this inspection report and give me a rough SOW and cost based upon it? This tells them first of all that you value their time, and second of all that you will put your money where your mouth is. Remember there are 1,000 OOS investors just like you asking them to do something for nothing...be the one, the one that isn't just going to waste their time. - Member since 2019 · 7k+ posts · 4k+ votes3y
Quote from @Bruce Woodruff:
Spot On!!! ^^^Quote from @Matt Devincenzo:
I'll tell you what they are saying without saying it...especially in an OOS investor heavy market like Cleveland. "I don't want to waste my time giving you a bid for a property you might not even buy because if I did that I'd never work and actually make money because of dealing with all you OOS yahoos. I might not even get the work if you own it, but you don't even know if you want this house yet."Quote from @Erica Allen:
@Carlos Ptriawan and @Theresa Harris @Bruce Woodruff I didn't order the inspection... it was already performed on the property. I called handymen and GCs suggested by real estate agent and property manager I'm working with. They wouldn't look because I don't own the property. Sounds like I am in need of a more reliable "team" during my search
So you need to call up one of those guys and ask this question: "What would you charge me to have you look over this inspection report and give me a rough SOW and cost based upon it? This tells them first of all that you value their time, and second of all that you will put your money where your mouth is. Remember there are 1,000 OOS investors just like you asking them to do something for nothing...be the one, the one that isn't just going to waste their time.We've been discussing this inspection report for a while now and offering my free service, but still has not yet receive the inspection report LOL.
Inspection report is good and bad, I meant if you hire inspector that's too stringent and seller that doesn't know what you are doing, you may undersell your house and that really happened to me.
Here we have to give buyer inspection report, usually if something comes up, me as seller would fix the issue before they came, and if they come with bad report again I may hire different guy LOL. - 3yNicholas L.Pro MemberFlipper/Rehabber · Pittsburgh · Member since 2018 · 6k+ posts · 5k+ votes
taking a step back
what's the purchase price? what's the projected rent? what are your goals for the property? are you paying cash or financing?
are there any 'big ticket' items in the report - roof, HVAC, electrical, plumbing?
maybe taking a big picture perspective will help
buying a property that is on market, with financing, that needs lots of repairs, is going to take a lot of cash - whether it's in OH or FL
- Member since 2020 · 33 posts · 5 votes3y
1. Pay a general contractor for their time. Offer a $200 to estimate the items from the report.
2. Get estimates for big ticket items such as roof, HVAC, etc. from specialized contractors.
3. Use Google to get ballpark estimates.
This strategy should help you determine whether the house numbers will work or not. - Contractor · Richardson, TX · Member since 2022 · 265 posts · 146 votes3y
Quote from @Bruce Woodruff:
Quote from @Carlos Ptriawan:
Quote from @Erica Allen:
The house already had an inspection report on it... so how do you estimate the cost of the repairs when you look at a deal in general? I also live on the beach in Florida and have no frame of reference for costs for these things in Ohio... if you have any suggestions for connecting with those in the area, please let me know.
send it to me so I can take a look.
I'll take a look as well...
Bruce... all of a sudden, your being nice!?!? lolol (kidding with ya, miss ya!)
- Real Estate Agent · Wilmington, NC · Member since 2021 · 166 posts · 116 votes3y
I haven't met a home inspector who is willing to give quotes for the items they flag, could turn around to bite them in the rear. Definitely start making friends with local contractors and other investors will be your best bet until you get comfortable doing a ballpark on your own. Keep looking, great contractors are out there!
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