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Updated about 8 years ago on . Most recent reply
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Taking a GC during property inspection during due diligence
Hello,
One of the financial podcasters I was listening to mentioned she takes her GC along along with the property inspector when she is doing the due diligence before making a buy offer. Her point was while the inspector can point out what needs to be fixed, only the GC would be able to tell how much it would *cost* to fix it.
While this seems a logical approach, it does add to the cost of the visit.
How worthwhile do you think is to have a GC tag along with the inspector ? Is it overkill ? Or just the prudent thing to do ? The context is buying SFR for passive income, not rehab or any other intensive labor intensive approach.
Thanks in advance !!
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@Akhil Kumar - it depends on the condition of the property. If it doesn't need much rehab I don't bring a GC. If it is a bigger project I always bring a GC because he would need to be involved at some point before I buy so might as well get it done in one visit.
- Brie Schmidt
- Podcast Guest on Show #132
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