Home inspection reports do not describe the condition of every component. This list should help ensure you are able to increase your income by selecting the best properties for your personal situation after identifying the best type and location.
It’s very important to thoroughly inspect the home, house, or investment property you intend to purchase before you close the transaction. There is nothing worse than purchasing something only to find out it is not what you thought it was!
The inspection report should note every item that is defective or needing service such as the following:
- Health and safety issues
- Roofs with a short life expectancy
- Furnace / A/C malfunctions
- Foundation deficiencies
- Moisture / drainage issues
- Plumbing, Electrical or Fire hazards
- Excessive dry rote or wood damage
Structural Elements.
Construction of walls, ceilings, floors, roof and foundation.
Systems and Components.
Main items: Plumbing, Electrical, HVAC, Water heaters, furnaces, air conditioning, duct work, chimney, fireplace and sprinklers.
Plumbing: Identification of pipe materials used for potable, drain, waste and vent pipes. including condition. Toilets, showers, sinks, faucets and traps. It does not include a sewer inspection.
Electrical: Main panel, circuit breakers, types of wiring, grounding, exhaust fans, receptacles, ceiling fans and light fixtures.
Interior Evaluation.
Wall coverings, carpet, paint, doors, appliances, dishwasher, range and oven, built-in microwaves, garbage disposal, smoke detectors and CO2 detectors.
Exterior Evaluation.
Wall covering, landscaping, grading, elevation, drainage, driveways, fences, sidewalks, fascia, trim, doors, windows, wood siding, lights, exterior receptacles and curb appeal.
Garage.
Slab, walls, ceiling, vents, entry, firewall, garage door, openers, lights, receptacles, exterior, windows and roof.
Other
- Asbestos
- Radon, Methane, Radiation and Formaldehyde
- Wood-Destroying Organisms (Dry rote)
- Mold, Mildew and Fungi
- Rodents
- Lead (Pre 1979)
This is just a short list but it’s a good starting point before you purchase any property. We can help you whether you are looking for your first rental property or have an established portfolio. We work with owners who have single family homes to large multi-unit rental properties.
To explain our services requires a fundamental understanding of the current problem with owning investment real estate. Realtors will help you purchase or sell your properties and property managers will collect rents, pay expenses and fill vacancies. Who helps you look at the performance and makes ongoing recommendations whether to buy, sell, refinance, exchange or hold your properties?
Currently owning and operating Real Estate is a very random process. Not having an experienced and objective third party advisor negotiating and executing on all facets of the transaction will undoubtedly leave money on the table.
We aim to build a solid plan that fits well with your current financial picture as well as being aligned with your financial goals and expectations for the future. SIFF will help you develop a complete investment plan around your current income, assets, liabilities, resources and objectives while considering your tolerance for risk.
We then coordinate the entire transaction from start to finish (Including inspections) whether you’re purchasing, selling or performing a 1031 exchange. This ensures you receive the very best service, pricing and investment options. If you prefer to be hands on, we will be happy to educate you on every step of the process.
Complimentary consultation
We give you a great deal of flexibility in choosing only the services you need based on solid information from the consultation process. To receive a complimentary consultation today click here.
One of our team members will contact you no later than the next business day to answer your questions and schedule your complimentary review.
