As a real estate investor, you are always on the lookout for new properties to add to your portfolio. However, buying a property that is profitable and offers good returns on investment requires careful and close inspection. There are some investors who can make an intelligent guess about the feasibility of a property by just having a look at it while others need a through and detailed inspection. But you cannot escape inspection if you want to take a good informed decision about buying a property. What if I tell you that inspection of a property is possible without even entering inside? Yes, you can observe many things about a property when approaching it in a car and looking out of the windows.
Look at other properties
Other properties in the surroundings of the property in question reveal a lot about it. They tell you if the location of the property is right or not. You also know if other properties are similar in size and features. Also, you realize there are issues in the location when you see trash, buildings needing repairs, and people roaming around without any work. You can carry out repairs in the property you plan to buy but it is impossible to fix issues in other structures in the neighborhood. Therefore, it is so necessary to know the area before buying a property there.
The lawn in front
One way of learning important things about a property is to take a close look at the lawn in the front. What do you see there? Puddles of water in places that should really be dry? Do you also see water coming on to the main street from the lawn? Are their depressions in the ground when it should ideally be flat? All these are signs of issues in the property that need repairs.
What can you observe in the roof from a distance?
Roof is the integral component of the structure and it can be easily observed from a distance. Check out the condition of the roof as you approach the property in your car. Do you see missing shingle or depressions in the roof? If you cannot see clearly, you can always carry a pair of binoculars along with you in your car. Poor condition of the roof is an early warning about the condition of the property.
Check out the structure in question
As you come close, it becomes easier to inspect the property form a distance. Can you see everything alright or have you started to spot issues like trash and bad condition requiring repairs outside the property? Do you find clutter and things thrown here and there in a haphazard manner? It tells a lot about the people living in the property and you can expect similar things inside the house. You can easily make assumptions about the condition of the structure inside by looking at the exteriors.
Buying a property is a big financial decision that requires close inspection of the property. You can choose to spend a lot of time and your energy on making a detailed inspection. Or you can choose to take a decision based upon quick and intelligent inspection as described in this article. Why take the pains of going inside and inspecting everything in detail when you can evaluate the condition of the property sitting inside your car? You can save a lot of your time and energy by carrying out the inspection in this easy way as you go to visit a property. Keep your eyes and ears open when you go to see a property in each locality.
If you’d like to talk more about property management, or you need help with Everest Property Management, please contact us at Everest Realty.
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As a top producing Realtor and Property Manager; Terry specializes in sales, extensive construction homes, rentals, REO’s, short sales, and all aspects of Real Estate. After graduating the University of Michigan with a master in MBA, Terry continued his endeavor and now has over 15+ years of experience in the Real Estate world. If there is anything that has to do with Real Estate and sales, you can always be sure of Terry to provide important, specialized knowledge.
