Investor · Dallas TX · Member since 2017 · 135 posts · 9 votes
I am looking at a property and have made an offer contingent upon inspection and it will cost me 200 bucks. If the loan does not grow through I stand to lose that money. The issues is, if this happens it would be the 3rd property that I have conducted an inspection on without closing the deal. How are others new and veteran investors going about this? Are you paying the fees for each one or do you have a deal that you work out with the inspector?
Investor · Chicago , IL · Member since 2014 · 159 posts · 68 votes
9y
It may be better to walk through with several contractors who you'd potentially hire for the rehab. There's a good chance that after 3+ contractors walk through with you, they will point out most items needed to be taken care of on a cosmetic flip. That way you'll have a lot better idea of repair costs and major items needing completed.
Walnut Creek, CA · Member since 2015 · 3k+ posts · 2k+ votes
9y
Better understand your property and get rid of the rough ones. I wouldn't skip inspections if you don't have the background/knowledge to do one yourself.