SFH Red Flags

[BRadley Cottam]

Next Week I am actually starting to look for my first SFH investment property. Im looking between 100-200k homes build in the 70's. Most of the ones I am checking into have been updated in the past 10 years. I am have done a ton of homework, much right here on the site. I've got most of my forumlas down and I know what I can personally justify or not justify buying. My question is now that I am actually looking, I am trying to find a list of red flags that would cause me to not even consider a certain house. Obviously roofs, etc. but I am just looking for a list of quite a few things that should disqualify a sfh from my list. Thanks for any help and this forum has been extremely helpful to me over the last few months.

[Lynn McGeein]

I would suggest making sure you know the weird issues for your area -- for instance, when we started looking in Maryland, we found out (seems like, anyway) the entire state seems to be sitting on top of natural springs that like to run through basements if the pumps stop working in a storm. Doesn't matter what kind of deal you get on it if you'll be fixing water damage every other year. We always look for drainage issues, how far from landfills, pig farms, etc. We've ruled out a lot of homes simply by mapping with satellite feature and seeing what's around (quarry starting next street over, huge power lines, beautiful view of industrial complex, etc.)