When to replace a Roof?

[Account Closed]

Ok so I am buying a property that will need a roof repalcement in the near future 6-12 months but who knows to be exact? I checked the attic out and there are no leaks or any signs of it potentially damaging other aspects of the house. I am planning on managing the property myself and since it is my first house I will be there alot probably once or twice a month to check everything. I will virtually inspect basement and attic to make sure no minor problems turn into bigger ones. Should I hold off on the roof if I check on the property a few times a month and wait for a small leak or something to happen? I know this is about maximizing costs and I do not want to put out 7-10k yet if I can get another year out of it. I also know that major problems can turn into big ones if ignored which is why I plan to check on it. The multi already has a tenant living upstairs and the bottom floor can be rented immediately once I tile the bathroom and repaint.. thank you any advice from fellow buy and hold investors or any one!

[Jay Miller]

If you know it is at the end of its life you should replace it now. Your tenant most likely will not tell you the roof is leaking until the ceiling caves in.

If you wait too long to replace it you might have to replace a lot of sheeting which will add to the expense significantly.

7-10 grand sounds like a very high bid unless the house is very large. Get a lot of different bids. You will be surprised at the range you will get.