If you’re like most people, your emotions sometimes cloud your judgement. While there’s nothing wrong with that in most cases, you can’t let your emotions get in the way when you’re a real estate investor.
There are some critical areas of a property that you’ll need to inspect—sometimes twice—to make sure you’re not falling into a money pit. Even if your inspection gets the green light, you may want to call a specialist for a second opinion. Here are some areas that could use a more thorough inspection:
A home inspector will search for visible signs of foundation problems. They’ll check for cracks, deformations, and uniform settlement. If you suspect any problems, or if the inspection shows some areas of concern—you may want to get a second opinion. Spending some additional money on a licensed structural engineer, prior to buying the home, could save you time and money.
Heating, Ventilation, and Air Conditioning (HVAC)
The HVAC system in a home usually undergoes an unremarkable inspection during the home buying process. The equipment is investigated for the potential to heat or cool a home, but there’s usually a lot more to it. For an in-depth inspection that will tell you how the equipment is functioning, you may want to call an HVAC expert to do a check-up.
There is nothing taken for granted more than a home’s plumbing system. If the water comes from the faucets, and the toilets flush; it’s easy to assume that everything is in working order. It may be a good idea to have the home’s main septic line inspected by a professional plumber before you purchase a home. A plumbing pro can perform a more thorough inspection than a home inspector.
Do You Need a Hard Money Loan?
Call us at 404-814-1644 or contact us online to find out whether you qualify for a hard money loan in Florida, Georgia, or Tennessee. In the meantime, check to ensure that you meet our loan criteria. Our loan amounts can be up to 65 percent of the after-repaired value of the collateral—and if you use the loan for renovation or construction, the loan amount can be based on the collateral’s improved value.
Read our frequently asked questions and take a few minutes to learn about the hard money loan process.