Updated almost 6 years ago on . Most recent reply
Identify Problems With Your Real Estate Property Before Renting
Hey folks! I'm a newbie BP member. I'm looking for advice on how to identify problems with a newly purchased real estate property prior to listing it for rent. Specifically, I'm looking at condos/apartments/townhouses. Personally, I haven't noticed problems with a new property purchase until I've lived in it for a few weeks/months. I'm trying to figure out how to cut down on this time frame in order to ensure a new tenant doesn't experience any major issues after they've moved in. Any book suggestions, podcasts, and/or videos are welcomed! To be honest, I'm open to any suggestions. We haven't purchased a property yet - just thinking ahead!
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You need to look at things from a potential tenant perspective, not from an owners perspective. When you rehab projects you generally see every flaw so you can address them. This is why rehabs always have extras.