What do you look for when you do a walk through?

Question

I have what seems to be a very promising property. Planning on doing a walk through this week.

What do you typically look for?

D'Aydra Allen · Answer

Age and condition of the major stuff like:

Roof, HVAC system (duct work too if you can see it... turn the system on if you can, what do you hear & feel), windows, foundation...

How's the plumbing? Any water damage- stains or sags? Electrical stuff is harder to determine without seeing inside of walls but you can take a peek at the electrical panel to see if it's dated and the load (if you know how)... a pic would work to share with your electrician.

The rest is pretty visual and more cosmetic, bathrooms and kitchens are always the most important. Look under the sinks, open up cabinets, peel away what you can...

I am a newbie investor but I have 9 or so years in construction and now I run an HVAC company with the hubs in case you're wondering ;-). Good luck on your walk-through!

Kevin Dean · Answer

Hey @Jason Parker I'm not sure if you are looking at a single family property or a multifamily property but here's something I have learned in my experience walking multifamily properties.

In addition to what has already been mentioned, you can learn a lot from walking a large multifamily property when you go with the future property manager and general contractor.  It is good to use this site walk not only to better understand the current state of the property and to develop a business plan going forward, but it can also be used as an interview for both the Property Manager and the General Contractor who might be walking with you.

Here are some things that I noticed on my last site walk...

• If the PM you are walking with is the current on site manager, see how tenants treat that individual and how the PM treats 
• Notice how the trash, landscaping and general maintenance around the property is being handled.
• When you walk into different tenant's units, the tenants will often verbalize their complaints, usually exaggerating a bit, but still very good feedback and can be used to understand the quality of the current operations. Also use this time to ask them what they would change on the property if they could. 
• If you notice something is off, wait and see if the property manager and GC call it out, or if you have to call it out and how they handle these issues around the property.
• Also remember that the property manager is the expert on site, they may have been there for years and know all of the nuances, the things that need to be fixed, the things that don't need to be fixed right away, what matters and what doesn't. So ask a lot of questions and take their opinions into consideration as you decide to move ahead with developing your plan for the property.
• One other tip, make sure you bring a pen and paper because you won't remember every detail after completing the walk through.

The site walk is extremely valuable in determining your business plan for the property regardless of the size of the property, I think you will want to be detailed in your questions and observations.

Brendon Seeley · Answer

@Jason Parker The suggestions above are great. You want to be on the lookout for as much as possible, while balancing not over-analyzing/scaring yourself from the deal which is easy to do. You will not catch everything, there is always something you will miss, and will need a full home inspection to catch as much as possible. Take the time to practice though. View homes that are currently on the market, go to open houses. They don't have to be fixers. Take note of:

• Siding
• Trim
• Gutters
• Roof
• HVAC
• Plumbing (flush a toilet or turn on a faucet)
• Foundation
• Paint
• Kitchen
• Mold
• Windows
• Insulation
• Etc

The more homes you look at the more things you will be better prepared to be aware of.

Matthew Paul · Answer

Everything . It basically comes with experience , even then you miss something .  Take a second set of eyes with you , someone detached from the purchase . A contractor would be the first best option , I am not a fan of home inspectors but thats another choice . Or find a friend who has some knowledge of construction . As a  newer buyer/investor  there is a bit of excitement looking at a new property , this can blind you to the obvious .  I am a contractor , I have looked at too many houses , but when its something I am buying I call up a buddy of mine who is also a contractor to be a second set of eyes . Between the 2 of us we catch most , but not everything .  And even come up with a number on repairs usually within 10% .

Jason Parker · Answer

Wow Kevin. Nicely done.

I'm looking at a 4plex househack style.  I dont even know if there is a property manager.  I love Bigger Pockets.  You gave me some great things to think about. All of these replies a worth gold. Thank you.

Jason Parker · Answer

thank you very much!

What do you look for when you do a walk through?

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