I hope everyone is doing well.
Many times, when I hear investors talk about their buying process and how they analyze deals, I never hear of anyone talk about their home inspecting process. So, my question is, how do you inspect your investment properties? Do you outsource and hire? Or, self inspect?
Morning @Rendell Giles
It depends on your experience.
If I buy a house to rent, I hire a home inspector and contractor. If I look for a house to flip, I always go with a contractor as well. Part of the due diligence process.
Here're some good articles from J Scott and Mindy on what to look for.
I usually do it myself for the types of properties I am buying. I have built a home from the ground up and done repairs and upgrades on them for 30 years so I know a lot about what might be needed. If I have a question on something like HVAC or roof I will bring in one of my specialists or just estimate in a replacement and if it ends up not needing it then I have a nice little bonus. I wouldn't recommend this approach on your first couple houses, but follow the home inspector to learn the skill because it is valuable.
That said, if you are using conventional lending, most likely they will require a licensed home inspection no matter what.
I appreciate your feedback guys! Thanks
I have to laugh at the fha inspection checklist form. I was so paranoid about this but then the guy showed up and he was a blast! he lifted up the crawlspace access door, took a half *** peak (and I'm being generous w/ the peak and said, "looks good to me!" he didn't check ANY outlets, didn't run the stove, I don't think he even ran the water. he was to go into the attic but he decided not to.
he was in & out in 15:00. and - surprise, surprise - it appraised.
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