Was just wondering ? What do you all think is it something that should be done all the time or just if you have a funny i dont know thought ? As well how much have you payed for one and what do you think it should cost?? :
As a former inspector, I’d say get one if you don’t know what your looking at. Depending on the size of the house the prices will be anywhere from 275- 350 for an average size house. Ofcourse the larger the house the higher the price. If you need help inspecting a house for purchase, hire a home inspector the first couple of times and follow them around while asking lots of annoying questions. The education you get will be invaluable. Don’t expect your inspector to see through walls and predict the future. It’s simply a visual, non-obtrusive evaluation. If your doing a rehab using contractors, they will be able to tell you potential problems that might occur.
Over the course of my investments, I have had every property inspected and I would say that I’m waaaaaaaaay ahead financially because of it. The inspectors always find something. Often it’s not a ‘deal breaker’ but gives me grat leverage to bargain.
For instance, the last place I bought, the inspector had issues with the gas furnace. He recommended that it be inspected by an expert. The expert (paid for by the seller) came and found a cracked heat exchange…the owner gave me an $1800 concession to deal with the furnace. A new furnace cost me $900 plus a $15 parish permit. It was like finding $885 and more than paid for my $250 inspection fee.
Keith
Thanks for the responses!!!
i have heard from some here where i am at oh it is waste of money and just something to drive up costs on buying real estate !! I have a friend who is all most done with his classes in home inspection and is looking to go into bussiness for himself in this. And i was thinking i would make him part of my team . Any one see a problem with having a on staff inspection person ??
Nope…not problem at all. It’s business. Make sure you adequately compensate him.
Keith
Agreed. I have 2 on staff and would pay them double if they asked. Good thing they don’t know that.
thanks
this being said what is a fair price to pay them ??
I pay them about what they would net if they were inspecting on their own. They are different from your average inspector in that I’m more concerned with having to repair or replace something than the actual condition.
In Keith’s situation, my inspectors would first look at the date the HVAC unit was manufactured. If it was more than about 8-12 years depending on the units statistical life I would not want the inspectors to go any further into the evaluation of the unit because we would just be replacing it during rehab.