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Updated over 4 years ago on . Most recent reply

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115
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Jake Drappi
  • New to Real Estate
  • Brick, NJ
39
Votes |
115
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Is it a pig in lipstick?

Jake Drappi
  • New to Real Estate
  • Brick, NJ
Posted

I am currently looking at a turn key property for my first deal.  It was a recently flipped house, and it is calming for my wife that our first property (which is going to be a house hack) would potentially be fully renovated.  However, the house is heated by an above ground oil tank.  Are above ground oil tanks, or oil tanks in general, a deal breaker for anyone?  Also, what techniques would you use to see if the flip was actually done properly and professionally and that corners were not cut that can be costly in the future?  I would like to hear any stories in which these were factored in and how it played out, along with some suggestions on what to keep an eye out for concerning corners being cut.

Thanks!

Most Popular Reply

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3,019
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Will Fraser
  • Real Estate Broker
  • Salt Lake City & Oklahoma City
2,321
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3,019
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Will Fraser
  • Real Estate Broker
  • Salt Lake City & Oklahoma City
Replied

Hi @Jake Drappi, I can't speak to oil tanks at all, but regarding due diligence on this purchase I'd recommend having a full-blown home inspection done on the property by a quality home inspector.  Additionally, I'd pull the permit record for the address (usually available with the city records office, often online) and see how officially they did the deep work.

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