Inspection Ride Along
Greetings all: I have personally found that it would be a major benefit for someone to be able to conduct adequate inspections prior to any submitted offers or bids. By doing so, they would be able to not only weed out any "deal killers" with serious problems, but would be able to minimize the change in the original offer/bid after the professional inspector conducted his/her inspection.
Therefore, I have been looking to some "ride along" programs with my states licensed home inspector associations but have found they are more involved than I am looking for. Requiring to submit application to a nationally recognized school at the completion and other requirments far from what I am looking to do.
Besides the obvious calling up of inspectors, assuming I acquire adequate insurance, how can I go about obtaining an inspector that I can pay if necessary, to allow me to go on 1 or more inspections? Any suggestions.
You want to hang out with some inspectors and go with them when they inspect properties? What do you need insurance for to do that? Sounds like what you need is some six packs and some wiling inspectors.
Contact some of these national inspection franchises (www.franchise.com) and tell them you are interested in there franchise and want to check it out. and ride along with a near by franchisee.
Hey, thanks sooo much. The idea of finding the franchise inspection companies as a place to start was a good idea. I will be looking into that.
Thanks again!
you can try 203K loans which alow you to bury the rehab costs into the loan.
Hello,
There is a great source of lenders on this very website. Your goal for a rehab should be to purchase between 60% and 75% FMV. This will allow enough for profit. Hard money lenders will normally lend money dependent on the property value. Just spend some time and search out some lenders that specialize in rehab loans.
Take care,
Andy Gibbs
[addsig]
I believe 203K loans are only for owner occupants. I think they stopped granting 203K loans to investors some years ago. If I am wrong I would be happy to know about it.
I used a 203K loan just before they stopped it for investors, and it worked out great.
Anyone have any knowledge about this, please give your input.
The best thing you can do is read previous articles and post about the topic of interest to you. Many newbies have a tendency to wanting to be spoon fed.............these individuals often to very little with their life.
With that said, TCI has an an enormous database in which you can do searches.
Many of the same questions pop up every few weeks...........while not every situation is alike..........there is enough info to get a feel for which avenue to pursue.
It is adviseable to learn the jargon in REI so that you can fully understand what you are reading.
Also learn to write down name and numbers of those that can assist you in your goals.
regards
NC
Thanks for all your info and input.
On the comment about using the database here at TCI instead of being spoon feed, we can easily see that being implemented with my posting labeled "Preparing For A Rehab"
However, the one area, after tons of reading here and elsewhere that still seems like a road map to me with all its different options is "financing". I figured maybe putting up a post that had "my" specifics and the shoes I stand in versus all the different situations people out there can be in, would help with someone posting information regarding financing for my situation.
Thanks again!