So I'm a newbie and I'm still in the process of trying to find good deals and learn different strategies, but someone mentioned to me the other day that I should become a certified home inspector if I'm becoming a real estate investor. At first, I didn't think it was such a good idea but the more I thought about it, it'll definitely help me see big problems early on and maybe even help me make extra cash on the side.
What do you guys think?
ALSO I was wondering, do home inspectors usually inspect houses before they are put on the market to be sold?
Thank you in advance for taking the time to read this!! =)
I think anything that adds to someones set of skills is a good idea, once you become experienced that could help you out on your own projects.
Most homes are not inspected before they are put on the market. it could open the sellers up to known defect issues, and expense.
@Mike D. Thanks for the quick response! I totally agree about adding to your set of skills.
Do you know when they are usually inspected then? I read on a quick google search that they're usually hired by real estate agents and brokers..so does that mean that they're hired right before they're about to sell the house to a potential buyer?
Yes, also the Buyer pays for the home inspection and most lenders require one. Most of the time the buyers realtor sets up the home inspection.
will it help u point out issues with the house? yes.
we it help u find deals or evaluate the numbers or talk to potential sellers... no.
u have to be well known among the Realtors to even get a call really pocket listing.
this would be a waste of time
@Bo Park some sellers but not many do request a pre sale inspection just so that there are no surprises that may "kill" a deal. A home inspection is usually done after an offer is accepted by the seller, and the final sale of the home in most cases is contingent on the home inspection report. It would not be a complete waste of time to get yourself familiar with the structural, electrical, plumbing and mechanical components of a home. All of this you will learn while taking the necessary steps to become a certified inspector. The laws vary in each state on the requirements to become licensed/certified and there may be some expenses that you will incur to do so. But again the more you know the better equipped you are. Good luck!
Check out ASHI.com see the education and certification.
hi bo, yes, i would become a home inspector if i were you. it adds to your ability to evaluate a home properly before purchasing. i am a home inspector and a real estate investor. houses are usually inspected prior to the buyer actually buying the house and the inspector is usually hired by the potential buyer. its a great way to become a pro at evaluating a purchase for yourself and a great way to make some passive income as well.
@Mike D. Gotcha, thanks for clearing that up for me, Mike!
@George P. hahaha thanks for that real, straight forward response, I love it.
@John Geldert Thanks for all that info! I agree, I do want to become more familiar with the structure/electrical/plumbing of a house anyways so I might go for it
Account Closed Thanks for that tip, Mark! Just wondering, were you a home inspector before you became a real estate investor? I've yet to make my first purchase but my goal is to buy a MFR (ideally a triplex or fourplex) by July2016. Also, do you work for a company or are you a freelancer for home inspection? Was it a hassle to get your certification?
@Bo Park Not to dissuade you but it's not so simple to be a competent home inspector. There's a lot you need to know about several trades and house systems. It takes years of experience. Do you have any kind of background in construction?
Having said that, it certainly would be useful for you, as an investor, to learn about house construction...even if you don't become an actual inspector.
Good luck to you!
Free eBook from BiggerPockets!
Join BiggerPockets and get The Ultimate Beginner's Guide to Real Estate Investing for FREE - read by more than 100,000 people - AND get exclusive real estate investing tips, tricks and techniques delivered straight to your inbox twice weekly!
- Actionable advice for getting started,
- Discover the 10 Most Lucrative Real Estate Niches,
- Learn how to get started with or without money,
- Explore Real-Life Strategies for Building Wealth,
- And a LOT more.
Sign up below to download the eBook for FREE today!
We hate spam just as much as you
Create Lasting Wealth Through Real Estate
Join the millions of people achieving financial freedom through the power of real estate investing