I was just curious, how often do you have a home inspector look at a property? Or is that something that a Rehabber or landlord generally has to worry about?
If you don’t really know what you’re looking at, then I suggest getting a home inspection done regardless of your exit strategy. Just make sure that you accompany the inspector and follow along as to what s/he is looking for. You can learn 90% of what to look for by doing this a few times.
Having an inspection will make it easier to exit the property, even if you plan to wholesale it. I think even your wholesale buyers will feel better about buying a property that has been given a once-over.
I suppose you could make the argument that, if you’re going to wholesale it to a professional, you should let them worry about the inspection. That might make sense, especially if you’re not keen on spending $250 to $300 on a house that you might not make any money on.
If you’re going to rehab and retail or rent it, however, I’d certainly get an inspection, at least for your first few deals.
:cool every time no surprise in your box of candy this way!!!
The only thing I can add to this is if you DO get an inspection, make sure that the inspector does their job COMPLETELY. Some pull the “I don’t need to get in the crawlspace” BS. That’s when I tell them that I am not paying for an incomplete inspection and wouldn’t you know it, they DO need to get in the crawlspace then!
About as frequently as you buy a property!