Buying a Rental: Bring in the Pros

The 3rd and final step before buying a rental: Bring in the Pros

One of the more enjoyable aspects of these job walks has been learning from the pros. Sure, I fancy myself knowledgeable about many aspects of home improvement and commercial construction, but it takes a lifetime to accumulate trade knowledge like the pros. They are, after all, pros.

When we go to purchase a property, I'm always bringing them along. My roofer, HVAC guy, electrician, plumber and sometimes flooring sub are all key members of our team. I enjoy sitting back and listening as they discuss the intricacies of their individual trade. They offer great advice and really help me effectively assess the project scope and budget.

Who is on your team? What are your lessons from looking at properties in the past?

previous steps
Step 1 - Thorough Inspection
Step 2 - Speak Loudly and Carry a Big Stick

Next week I hope to share more from my crazy investment double-life. Stay tuned!

Deren S. Monday | Comments () |

Allison

I've found it always helps to take a contractor or two around when looking at rental property. They will see things I might not. We almost bought one house but were afraid of the cost to replace the wiring (or the fire that might start instead), so you never know. Here's a good thread on how to inspect wiring-- might help those who aren't electrically inclined.

http://www.oldhouseweb.com/sto...