Ok, it is mid-July and the inspection business is in full swing. We keep hearing that there is some kind of heat wave going on in the country but here in the Great Pacific Northwest it is once again raining and sixty two (62) degrees. Still waiting patiently for summer and in the meantime just working away. It seems we eat breath and live real estate here at the Sorensen household and there is nothing we enjoy more than helping other investors who have caught the fever. Recently buying, renovating and re-selling real estate has started to really heat up again here in Washington and we couldn’t be happier to see it. With the bank-owned properties and short sale properties on the market at great prices there is once again a profit to be made turning properties. Over the years we have helped an awful lot investors get off to the right start with renovating properties and continue to do so. With the bottom line more important than ever and the margins getting tighter, you definitely cannot afford surprises in your investments especially after your budget has been set. Even if you are buying properties at auction you still need to hire a professional inspector to look over the property before you buy it and set a budget. Even with these greatly reduced prices, you can still lose money. My wife is the “flipper” in our house and even though we have been in this industry for many years and my wife thinks she has seen it all, she still hires me to inspect any properties she has an interest in before buying. Even if she is going to strip the house down to the studs and start over she still hires me to inspect it and give her a complete list of repairs to take to her contractors.
So, if you feel that you need to take advantage of the current prices and invest in real estate it doesn’t matter if it’s your first time or hundredth time hire the right professionals and make it a fun and rewarding experience. Start with a great real estate agent and then hire a professional inspection company to let you know what you’ve got and what it really needs. If we can help, just give us a ring. Have fun out there and remember that the house you renovate, you may want to keep!
Sincerely, Matt Sorensen…..
WestCoast Home Inspection Phone: 253-380-2922
This bank owned house was very typical of what I see day in and day out. The bank hired a contractor to make some minor improvements to get the house sold including re-painting the exterior. They did not bother to replace the worn out roof coverings and rotted sheathing throughout the soffits however. Even if you looked this one over thoroughly, you likely wouldn’t see this damage unless you brought a ladder along. Give us a call we would love to help.
