As you all know, you are buying everything that comes with a property. That includes the good things like rent-paying tenants. But it could also include bad things that could come back and cost you lots of money in the future! Doing your inspections and investigations is extremely important on a purchase. You need to find the easy things like deferred maintenance on the building, but also need to do a deeper search for those things lying just beneath the surface.
We are in the middle of two purchases right now, and BOTH of them have something hidden underground that could’ve cost us tons of money if we purchased the properties without knowing. Watch the video and find out what it is!
What issues have you discovered before a purchase that would have cost you money? Did anyone out there buy a property with a problem they didn’t find out about until after closing? Has anyone had a Phase 1 Environmental Study performed and discovered an issue?
I look forward to hearing from you! Have profitable week.