All Forum Posts by: Shashy B.

Thought I'd provide a quick update. Last month, I took one module of the 5 module inspector education requirement. I found the course very informative and worthwhile. It's been a while since I oversaw the rehab of my property so I'd forgotten much of what I knew about plumbing and heating. 

Despite learning quite a bit, I decided to postpone taking additional courses due to time constraints. If I knew there was a chance that I'd work as an inspector within the next year, I would invest the time/money now. Personally, I found value in taking a local in person class as the instructor provided insight on the local market that wasn't available in the book and I was able to network with others who work in the industry.

Welcome, Simon! It appears as though we share similar goals, ie buy and hold investments and becoming more knowledgeable about the industry. Would love to hear about your markets of interest, and again, welcome to the community!

Thanks for the info/feedback! I've decided to take just a couple courses now rather than all the modules consecutively. If at some point I decide to take all the courses, I'll be sure to repost whether I found the experience the best use of my time/money. Thanks again!

Hi all,

I'm somewhat of a newbie in that I haven't been as active in RE as I'd like. This year, I have a pretty aggressive (for me) acquisition goal but have faced a number of obstacles in my pursuit of it; namely, I have trouble finding an agent (w/ rehab experience)  to show me properties of interest. Most have been unreliable, ie canceling, not following up as promised. I have a GC I've worked w/ but he's often too busy on jobs to accompany me.

Getting my real estate license isn't my priority now but I'd like to be able to effectively assess what type of work needs to be done. There are a number of 140 hour courses starting in my area now, and I'm thinking about taking one that starts tomorrow.

Do you think it's worth it to take the course? Can I get the info elsewhere? I have a full-time day job and don't plan to pursue a career in home inspecting (at least not in the near future) so it would be primarily to vet my own deals.

Thanks for your help!

Shashy

PS The agent's flakiness isn't a reflection of me. I'm finding properties on my own and merely using the agent/broker to view it when I can't reach the seller's agent on my own.

I will be there also. Can't wait!

Thank you for the note. I'll be there!

Your question caught my eye b/c as a novice investor, I placed the winning bid on a property that didn't have a CO and boy did I have the hardest time getting financing. Why didn't anyone warn me about COs???

I found a bit of info on Trulia that may help you...

"A Certificate of Occupancy is a requirement in many municipalities. It must be issued in order for the property to be occupied, but title may pass without a CO. To pass title without a resale CO, in a town where one is required, waivers and agreements not to occupy are generally required. Lenders who are funding for a property in NJ may decline to fund until the CO is issued. Most closings are settled by attorneys in NJ, and will not settle without the CO at the closing table. It is the sellers responsibility to obtain the CO. Fire inspections are mandatory by state law for occupancy change, including rentals. In some towns, (most), the fire inspector is a different person than the building inspector, meaning that two inspection appts are required. And, no they don’t coordinate their schedules, they usually work different days. It’s called efficiency.

"There are, of course, exceptions......... There are properties for sale that are offered “as is, CO responsibility of the buyer.” The buyer must make sure the lender will fund on a conditional CO or no CO. The town will agree to title transfer in these cases, but the buyer must sign off that they will not occupy the property until a CO is issued.

Check out the link for more info
http://www.trulia.com/voices/Home_Selling/What_is_a_CO_Is_it_some_sort_of_buiding_code_com-9361