Updated over 4 years ago on . Most recent reply
Unit Inspection question
Ok guys (and gals), I need some help. I'm purchasing (2) 16-unit, identical properties in Oklahoma, and I'm trying to schedule inspections. One was built in 2008 and the other in 2011. I know that every unit needs to be inspected by someone, whether it's me, my partners, a contractor, etc.? Is it common practice among investors or investment groups, however, to pay a licensed inspector to check each and every unit, or just a few in each building? Thanks.
Most Popular Reply
On our first deal, we hired a property inspector to go through every unit.
We have followed the same model in all of our purchases, and we pay a per unit cost for the report. As we have grown, we now bring our managers and cap ex team along with other contractors to the inspection.
You want pics of every single problem, so you can go back and ask for a repair credit. A picture is worth a thousand words.
Gino