First time seeing a listing

[Uri F.]

Hello BP - first time going to go see a listing, not sure what to look for or what to do! You show up to the property and then what :D

What's important to look for? Should your contractor come with you? What are the obvious and not so obvious red-flags. Would appreciate any links, tips or tricks you have when first walking a property. 

[Bob Okenwa]

@Uri F.

If you are going to see a listing and have no idea what you're looking at or should be looking for, then it sounds like you may need to spend more time learning about investing.

If you have a realtor, they should be able to help you with this process, but one must take the time and learn the basics in order to avoid wasting their own, and more importantly, everyone else's time.

Most contractors won't walk a property unless you have it under contract or already own it, and you'd probably need to compensate them for their time as well.

With that being said, you'll want to get a feel of the layout and how potential renters will feel when entering the property. Are the rooms small, is the kitchen functional, is the layout conducive to having people stay for long periods rather than rent and leave every year?

The most important thing is the condition of the property. Are there water leaks? Is the water heater/furnace/AC/boiler shot? Do the fixtures work? 

All in all, you want to see what the property needs to be rent-ready and meet the expectations of renters in that area.