As a real estate investor, you can save yourself money and time if you know how to spot signs of foundation damage when you first look at a potential investment property. Some minor problems can be fixed, of course. If you only spot minor problems, it's possible that hiring a professional evaluator to check the property may be worth it. Not all foundation issues mean you should walk away from an investment property. But you can save yourself the cost of an evaluation if you can spot the major foundation issues yourself. Keep in mind, you're not just looking at
Finding good contractors to work on your rental properties might seem like a chore. Hiring undependable contractors can cost you some serious cash. Do you know where to find the best contractors? We happen to have some tips! Perhaps some jobs at your rental property are too complex, too tedious, or just too unappealing to do the work yourself. If you’re investing in real estate but you’re not going to be doing all of the work yourself for whatever reason, you'll need reliable, skilled contractors. Word-of-mouth really is best. That doesn't mean you should rely completely on online testimonials from
Sometimes distressed properties sold "As-is" come with some major problems. Do you know how to recognize them? If you intend to invest in a distressed property, these are important issues that you need to know about. Head into the bathroom. Bounce a little on the floor near the sink, tub and toilet. Is there any give? That can be a major indicator of water damage! Grab a high powered flashlights and check underneath the floor if possible. Look for stained wood or joists. Find out when and why that damage occurred and get your answers in writing if you can!
The National Electrical Code requires GFCI outlets in new construction or remodeling of kitchens, garages, laundry rooms and bathrooms. It requires AFCI outlets for new work on kitchens, bedrooms, living rooms and laundry rooms. So, the easiest solution to stay ahead of the game on your income property is to have dual functioning AFCI and GFCI outlets installed all around the living quarters. These handy dual functioning outlets help prevent electrical shock and residential home fires. Insurance companies are please to see these dual functioning outlets and your tenants will be too. If you're merely flipping the property, imagine the
The Building Code Council adopted the 2018 North Carolina Building Code at its quarterly meeting in June, 2017. The 2018 North Carolina Building Code (Except Electrical) will go into effect no later than July, 2018, according to the state's website. At that point, we'll see a minimum six month over lap where either the 2012 NC Code or the 2018 NC Code is acceptable. So, when is the new code fully active? According to the state's website, on January 1, 2019, the new code becomes the requirement. Meanwhile, the 2018 Electrical Code went into effect this month. "The Base Documents
All properties within Metropolitan Nashville are zoned for particular uses depending on their zone district classifications. If you're considering an investment property in Nashville, take a look at the city's Zoning Land Use Table. It will let you know what uses are permitted in various zones around the city. The property will be considered "zoned and ready" as long as its zoning matches your planned use for it. Once you've got the property in your hands, you'll probably want to do some renovations. The building permit process in Nashville is pretty straight forward. The building permits are handled by
If you're new to house flipping, paying for a consultation with an interior designer might be a good investment. Typically, an hourly fee for a consultation from an interior designer is less than $100. In that hour, a designer will throw out a bunch of suggestions for changes they might make to a home you intend to flip. They have lots of ideas. Though they won't be able to design and implement the changes to your investment property in just one hour, the advice they provide during the consultation can help you get started on your own. They may suggest
You've got your eye on a potential investment property. You're creating your budget. You want to cut some corners. Should you get cheap carpet padding? Most investors find that a good carpet padding increases buyer interest even more than a good carpet would. Good padding can absolutely help you flip a house. Buyers assume that if you're willing to invest in a quality padding, the home must have quality products everywhere. You can even go with a cheaper carpet if you choose a better padding. It wouldn't even be deceptive. Quality padding can help even low grade padding last longer.
Some house flippers remove plaster and lath walls to expose the gorgeous, vintage brick beneath. Here's the truth though: It's often easier to remove plaster and lath walls than it is to repair them. So, if lovely brick is hidden by old, damaged plaster and lath walls, the choice is obvious. Exposing the brick will save money on materials and plenty of time. Framing old walls that have settled and shifted is a pain. Taping, mudding and painting just adds extensive man hours to a house flipping project. Costs involved in removing plaster and lath walls pretty much only include
When it comes to renovating a property, every real estate investor has his or her own system. However, any house flipping veteran will tell you that some areas of the home require immediate attention while other projects can wait. Here’s a quick 4-stage breakdown that will keep your operations running smoothly at all times so that you can pass inspections. Stage 1 – this phase is laying the groundwork for future construction. Have all of your blueprints, permits, and land surveys ready. Be sure to order a portable dumpster and portable toilet for the construction workers. Repair the house’s foundation. Check