All Forum Posts by: Dusty Tatom

Spencer, theres going to be several variables like mentioned above on top of inspection fees and permits. You'll be subject to bringing some of the electric up to code depending on if you extend circuits, etc.

It would also be a good idea to contact your local electric company to see what their fee is going to be on top of what your licensed electrical contractor charges, if there is indeed one. 

As both an investor and a licensed electrician I get both sides of the struggle as far as "I want it done as fast and as cheap as possible" and also "It needs to be done right".

I would probably expect to spend somewhere around $5,500.00 give or take depending on how your local inspectors are. Work seems to slow down sometimes in the winter so you may be able to get someone on the job a little faster and a little cheaper around this time! Hope this helps!

Hey everyone, I've currently run across a property that has sparked my interest. It would be my second rental property and my first I did not use a realtor with as it was a for sale by owner. 

I currently have a line of credit open and I've found a property that has suffered an electrical fire in the garage, I'm going to inspect the extent of the damage tomorrow in person. I wanted to make a lower "cash" offer. Essentially writing the seller a check IF we can agree on a price. My question is basically for those who have done this sort of thing before.

If we agree on a price do we just meet at a title company, make sure theres no leins, etc. and sign the title over?

Should I come up with a contract that is basically no more then a bill of sale?

Never been in the position to essentially "write a check" for a property and was wondering how those who have done a similar deal handled it?

 Thanks, Dusty.