Going Broke on Inspections

[Nic DeAngelo]

First off, I'm officially in escrow with my first investment property! HUGE thanks to BP nation which has been an essential piece in my strategy and knowledge base.

A few questions: How do you not go broke with all the inspections?

What strategies/timing/etc do you use to be as efficient and cheap as possible with the various inspections?

Do your inspectors usually include price quotes for the repairs in their reports?

[Ed L.]

Inspections are probably the cheapest insurance against catastrophic loss on a house deal.

My Inspector only charges $150. He test and checks everything from crawling under old houses, checking the attic for leaks, testing all the electrical components, etc etc.

I find that's it's great to have another set of eyes look everything over just in case I miss something. There is also no amount of money that would get me to crawl under older homes. Just a personal Phobia of mine!

If you are wholesaling I wouldn't waste the money on a inspection because your investors are going to have their own most likely. That's assuming you are just assigning the conract or doing some kind of dual closing where you never take posession.