What types of construction/building issues do I need to look for?

[Axel Ragnarsson]

Hey everyone,

I'm a Boston based real estate investor (although my portfolio and property management company is located in NH) who is looking to start buying multifamily property in Florida, specifically the Lakeland area. I was hoping to learn from local, Florida based investors about what to look for in terms of common construction or building issues (electrical, plumbing, foundation, etc). 

For example, in NH, 90% of the inventory was built between 1880-1920. There are common issues with properties built in this timeframe (knob and tube wiring, horsehair plaster instead of drywall, flat roofs with minimal drainage, stone foundations, etc). What are some things you wise Florida based investors look for when doing diligence on properties?

Additionally, if anyone reading this is a property manager or broker who specializes in managing/transacting multifamily properties in the Lakeland, FL area, please reach out!

Thanks in advance - Axel