How do you all handle home inspections when you do your deals? Have you all acquired the skills over the years to do them yourselves, or do you hire that out?
If you know a thing or two do it yourself but I do hire a pest and septic inspector.
I’m comfortable enough to do it myself. If I find something I’m unsure of, I’ll call my friend to come look at the house too.
Very interesting question. I say that because if you asked any experienced investor in this forum, they tell you they’ve made mistakes in this area. I think you should hire an inspector or experienced handyman first with the idea of following them around so that you know what they are looking for. After you gain experience, you can do them yourself. When you then find something in a house you inspect and you’re not sure, hire them to come again for their opinion. Nowadays I do it myself, but a couple of things I hire my guys to do. For example, I always get my plumber to do a camera scope so that they can see if there is a possible issue with the main plumbing line. Cost $100 and tells you a lot. Lastly, I think it is a good idea (when costs allow) to invest in inspector tools. I have for example a moisture meter that is a tool that tells you if there is excess moisture in the basement walls. Also that tool that tests the electrical sockets to make sure their up to par.
It is wise to hire it out. Some contractors, agents and others do acquire the skills but for a few hundred bucks it is a wise decision and can mitigate risk.
What kind of inspection are you referring to, estimating the condition of a house you want to buy, or when you’re trying to sell a house to an owner occupant, or what?
HUGE difference.
I always use a professional inspector.
I can then use this independant report to negotiate if there are any issues that can reduce the cost of the property.
I also use this report to help define my rehab scope of work that I get bids on from my contractors.
If you want a negotiating tool, hire a home inspector.
Most home inspectors are good for nothing else.
I studied to be an Illinois inspector hoping to learn something. I learned almost nothing besides report writing, and laws/rules/ethics.
Some inspectors are knowledgable, don’t get me wrong. I’ve met some good ones (out of my price range)
If I didn’t feel comfortable looking at it myself, or saw something funny, I would hire a consultant, but I wouldn’t go with a home inspector: I’d get a plumber with a camera and other more specialized experts, Like an HVAC guy, roofer, etc. That’s most of what an inspector does anyway: reccomend the appropriate specialized expert.