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   HARD MONEY LENDING

How to find Flaws Fix and Flip Properties Will Hide


paperfree Aditi Bansal 29:14
Published on Thursday, May 18, 2017

The best place to find beneficial properties in a fix and flip game in real estate investment can only be described using the word distressed. A property that is in great need of repair is the one referred to as a distressed property. Fix and flip allows you to purchase the distressed property from the owners at a discounted price.

tags  #Fix and Flip Properties  #Distressed Property #Real estate Investment

 

The process of Fix and Flip is not as easy as it may sound because the distressed property purchased might be in really bad shape. These flaws can generate even greater complications in the future if they are undetected. There are several defects which you should look for first in your fix and flip to ensure that they don’t continue hanging about on the walls. They include;

Sewer lines

In the real sense, sewers are not long lasting. Many problems can be linked to them. For instance, items flashed down the toilet can lead to the sewers destruction. Repairing them can cost you a lot of your time and also money. You can, however, evade all these expenses by looking for several signs that will indicate a sewer that has collapsed. They signs include;

  • Small shacks
  • Spots of green pasture where there are no grasses.
  • Signs of burrowing near sewer lines.
  • You can even ask around.

Look for gas and electrical problems

It is worth an extra effort checking for gas and electrical problems. However, you can fix these issues later in your repair project. Things to do;

  • Look at water electric heater
  • Examine  test the energy meter
  • Scrutinize all the circuit breakers in the property
  • Examine gas and electrical changes

Leaky pipes

Identifying water leaks and damages can be difficult.  Here are several means of spotting a leak in your drains.

  • Check the water meter
  • Check the house for dripping water.
  • If the faucets are turned off, and your meter is still spinning, then there is a leak.

Termites and carpenter ants

Several ways of detecting termite and carpenter ants attack in your house.

  • Tinny tubing of mud going up a wall
  • Rotten wood
  • Small holes in the wood
  • Minor heaps of sawdust in strange places.

Knowing these hidden flaws will help you in the planning of your fix and flip project.



This page with a focus on Fix and Flip Properties, Distressed Property was shared by Aditi Bansal.

 
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