Monday, August 6, 2012

We Saved Thousands!

        We were encouraged by some of our friends who own rental properties to get a home inspection before buying our house. So we did just that. Home inspections are a few hundred dollars depending on where you’re located and the age and size of the home. Because we wanted to stay within a certain budget, we researched different home inspectors online, and called a few to ask about pricing. We finally got in touch with a local inspector from the National Bureau of Home Inspectors who we liked. He was willing to work with us on the price and agreed to do the entire inspection for only $300.

Here are a couple reasons we’re glad we had an inspection:
1.       We saved thousands! Our inspector found two major issues with the house: the furnace didn’t work, and the roof was at the end of its life. So we were able to take these things back to the seller and negotiate more money out of the deal.
2.       Peace of Mind! Having an inspection allowed us to rest easy at night knowing what was and what wasn’t wrong with the property.

          One tip when looking for an inspector: Always negotiate the inspection price, especially in our current economy. Most inspectors are willing to negotiate, because they want your business. But make sure the inspector you go with is experienced and has a construction background. It never hurts to ask them about their past experience over the phone.

         Using the right inspector will help you find all the issues with the house, and if there are any issues you will have some bargaining power when it comes to negotiating with the seller.

Friday, July 27, 2012

Repairing Holes in Drywall

         Since becoming a landlord we have decided to manage the property ourselves, and with that comes the responsibility to make any needed repairs. The best time that we have found to make those repairs is during the transition period between old tenants leaving and new tenants arriving. So during this last transition we wanted to repair a few holes in the walls before painting.
         Because I'm attempting to start a YouTube Channel I would like to share this video with everyone on how to repair holes in drywall. I hope you find it useful if you ever have to fix any holes in your own walls: