Become and inspector while investing in Ohio?

Question

I am from Ohio and plan on investing in my first Multifamily within the next year. I have found that in Ohio, inspections can cost between 300 and 600 dollars. After doing some research, I found that I may be able to become certified in residential inspection for under a grand. Has anyone tried to become an inspector as an investor and what was your experience like?

Jason D. · Answer

@Matt Kitchen are you experienced in building trades? Having an inspector license doesnt mean you know what you're doing, it just means that you can charge to do it. No offense intended but if you still need to hire an inspector to view properties that you've offered on, you are a long way from being a competent inspector, and a class isnt going to get you there.

Amanda G. · Answer

@Matt Kitchen, Matt Nusbaum offers good advice. If you are going to have a property manager, you may be able to audition them, (and pay them a bit for their time) to help you figure out what is going to need to be done to get a property to rent ready condition. Different inspectors will concentrate on different things, although everyone should check the basics. The main point is that houses are complicated systems, and only experience and practice will help you catch things. For example, I now look very closely at the faucets in every old bathtub and expect that I will have to replace the valves, if they aren't already re-done.

Grant Rothenburger · Answer

@Matt KitchenA great inspector will cost more than that, and also be one of the best resources you'll have. They'll save you thousands on the purchase price.Two things with your method:1. Someone with years of experience is worth the money. As someone else said, taking a class and getting certified doesn't mean you know what you're doing. An inspector that's been doing it for 10 years after 30 years of experience in construction will know A LOT more than you.2. The best thing about a good inspector is their ability to find EVERYTHING wrong and putting it on the report and giving you negotiation ammo. Imagine if you're the inspector on your own deal and come back with nit pick things to negotiate, no one will take you seriously.That's my opinion, hope you do what is best for you.

Daniel Cullen · Answer

Hi Matt.....i've been an inspector for the last 22 years and an investor for quite some time prior to getting my inspector's license. I applaud your effort to increase your knowledge base vis a vis property condition assessments. You should keep in mind that, as in any profession, there is a big difference between getting your license and being competent. I say go for it and accumulate all the knowledge you can.

Matt Nusbaum · Answer

Hi @Matt Kitchen - I like the idea but I would not advise to do it unless you truly want to be an inspector. Yes you may pick up some useful knowledge but ultimately, in my opinion, I think it would just be a distraction and your time would be better used elsewhere. I would find some experienced investors in what you are looking to do and take them out to lunch. Build relationships with these guys and ask them to look over a property you are thinking of buying. Maybe even partner with one on your first deal or two.

Matt Kitchen · Answer

@Amanda G. @Jason DiClemente Thanks for your input. I was hoping that a class would get me most of the way there or at least give me a starting point to gain experience. What would you guys suggest doing in order to be able to competently asses a property along with any major issues? i.e. what do you believe are the best ways to gain experience/knowledge?

Amanda G. · Answer

@Matt Kitchen, getting the education might help, and I also agree with @Jason DiClemente that you will want someone with experience to look with you at your purchases unless you have a lot of previous experience.

Matt Kitchen · Answer

@Amanda G. The purpose of becoming an inspector for me would be both. Saving money and not having to put $10,000 into a repair i didnt see coming. The math seems to say that its worth it.

Amanda G. · Answer

Hi Matt, I'm not an inspector, so this isn't a direct answer to your question. And/but, what is the problem you are trying to solve? Saving $300-600? Or being confident in your purchases? The purpose of an inspection is to find all/most the things that could come back to bite you, hopefully before you buy the property. Going through education to be certified as an inspector might help you do that. You could do your own inspections, if you were confident that as a new inspector you wouldn't cost yourself thousands by missing something important. Good luck, whatever your decision!