I am still new to Bigger Pockets. I have been reading up on the articles and post and listening to all the podcast, but I have not joined in on all the discussions because of lack of time I work a 55-60 hour a week and i am looking at properties in spare time. So I feel funny asking for help when I have not contributed here on Bigger Pockets . That being said ,here is my situation I have found a house in Springfield Ma. The Owner is willing to finance at 10% balloon in 6 . 10% down price 69,900 ARV 120-130,000 Needs electrical up date New furnace and wet cellar, not sure were water is coming form, light mold in cellar none through out house. House on inside needs painting new appliances I have till next Saturday to make offer and can get inside at any time to inspect . Should I contact a home inspector or contractor to find out all the problems and cost of them and can some one suggest a good contractor or inspector in Springfield Ma Any help on how to pursue this would be Helpful Can not respond until tonight because I am heading out to work Thank You
I know Bob Mulloy, at ALLSAFE Home Inspection has a stellar reputation, but may be more expensive than other area inspectors.
JigSaw Home Inspection, I have worked with personally and thought they did a great, thorough job, and the price was very reasonable. They saved me a ton of money on a house with some not so honest sellers. I will never not get a home inspection. Well worth the money.
It somewhat depends on your end goal.
I think you are going to hold it but if you are flipping it I'll have different advice.
So if the goal is to fix it and flip it for that ARV I'd skip an inspector and get a contractor in there to help you develop a full scope and get a hard number. Since that will effect if it is really a deal or not.
If you are holding get a home inspection. They can find any other minor stuff (and maybe major stuff) you didn't see. You can then ask for some ballpark numbers on things you think need to be fixed, as well as just decide what needs to be done right now, what can be done later and what things aren't really important at all if you are keeping it as a rental. If the inspection turns up some major items you missed and you need to figure out the cost bring a contractor in afterwards and have them bid on a scope you make from the inspection report.
@Shaun Reilly Thank You for your advice. I am planing on holding and renting out to college students I will call Jigsaw home inspection that @Sean Connolly recommended this morning . Great advice, I am buying this house with my son, I think it will be a good education for the both of us .Thanks again
@Sean Connolly Thank you for your response . I am calling Jigsaw this morning I will let you know how it goes.
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