All Forum Posts by: Lauren B.
Lauren B. has started 9 posts and replied 159 times.
Post: Closing on the house without keys from Seller

- Asheville, NC
- Posts 170
- Votes 242
Post: Will my Doublewide Buyer actually close with an FHA loan?

- Asheville, NC
- Posts 170
- Votes 242
Post: should I rent to a family with 4 dogs?

- Asheville, NC
- Posts 170
- Votes 242
Post: Using a Contractor to do Inspection

- Asheville, NC
- Posts 170
- Votes 242
Inspectors don’t literally write checks. Their insurance companies do. I’m not saying they hand them out like candy, but that is their job. Just because they say they don’t warrant it, doesn’t mean that in all states that will hold up in a court of law. A Google search will give you plenty of examples.
The Op asked about hiring an inspector or contractor for a house “he plans to flip”.
I wasn’t under the impression he was asking about if he should drag a contractor or inspector to 50 properties. At some point, the investor needs to be able to evaluate properties on their own and rely on a professional opinion when they feel good about a property.
It’s my opinion that an inspector will be more thorough and has more at risk to be thorough. It costs more; so that’s a personal decision each individual needs to make. Ideally I would have an inspector for each deal. Realistically that is sometimes not possible. If my margins were thin, I would do both. If I knew the contractor intimately and trusted him 100% I’d be more inclined to forego inspection. If I found the dude on CL and never worked with him before, I wouldn’t even bother. It’s not a one size fits all solution.
For Me personally - I have enough room so that any issues or surprises won't kill my deal. I'm not always hiring an inspector before I buy , due to time constraints and some sellers not being so cooperative. My current project was a distressed property and I didn't even have a contract and scheduled closing anyway because she was about to lose her house. I didn't even know til the night before if she would show up for closing. (Closed in 6 days). Getting her to allow an inspector or contractor would have been impossible. I got the house for 30% of ARV so I have some room for the unexpected.
I will pay for an inspector anyway before listing so I am aware of what might come up and so deals don’t fall through when under contract. May as well do it before and just pay for a follow up. Just my $.02.
Post: Using a Contractor to do Inspection

- Asheville, NC
- Posts 170
- Votes 242
Post: Foreclosure with equity left in home.

- Asheville, NC
- Posts 170
- Votes 242
Post: Home owner was willed the home & can't afford to probate the will

- Asheville, NC
- Posts 170
- Votes 242
Post: Mobile/Manufactured Homes (Good or bad investment?)

- Asheville, NC
- Posts 170
- Votes 242
Post: Bandit Signs and Atlanta Phone Number

- Asheville, NC
- Posts 170
- Votes 242
Post: Auction, Title Insurance, and Quit Claim Deed

- Asheville, NC
- Posts 170
- Votes 242