Short Term Rental Riches 122. Are You Getting What You Paid For? (Inspection Tips)
Mar 15, 2022
Exploring the world of property inspections, the host highlights their recent whirlwind tour across seven cities. They emphasize the importance of verifying what you pay for to avoid costly surprises, like sewer issues. Listeners learn about the different types of inspections and how to leverage them for better negotiating power. Personal insights from the host’s experiences reveal tips on interactions with property inspectors and uncovering hidden property histories. This is a must-listen for anyone diving into real estate investments!
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Always Do Property Inspections
- Always conduct property inspections to know exactly what you are buying and avoid unexpected costly repairs.
- Even in competitive markets, inspections give you crucial negotiating power and confidence in your investment.
Inspect Every Unit Personally
- Tim visited an eight-unit apartment building and personally inspected every unit to see the property's true condition.
- Walking all units, even occupied ones, helps uncover hidden issues tenants or sellers might conceal.
Talk to Tenants for Insights
- Speak with tenants during property inspections to gain valuable insights about the property's history and issues.
- Tenants can be an untapped resource providing honest feedback you won't find in listings or reports.