Cleveland Rehabbing in Winter? Planning on Jan purchase.

[Joseph Gibbons]

I finished my first property in Euclid, OH a nice duplex with finished third floor.  The top unit is a 3/2 and the bottom, mi casa pro tempora while on break from school, is a 2/2.  

Before:

After:

I will be in a position to purchase another property in January and want to know what people have had to deal with in winter rehabs?  Roof issues unseen etc?  

[John Ellis]

@Joseph Gibbons  I really like purchasing properties in winter in northeast Ohio because IMO there is less competition and banks have an asset that is getting further damaged by the weather for the reason @James Wise stated which is poor preservation. Here is how I handle winter properties different from warm weather months: First Bring a flashlight. I spend about an 1 in two major spots: Basement and Attic/Crawl space. In basement I am looking on the ground for any water. Instead of trying to look at the pipes I look for the water or sign of it on the basement floor. If I see it then I try to find why. If its is a pipe GREAT I use it in my offer. I check all ceilings where bathrooms are located for any sign of water if I see it I take a picture and use it in my offer. I also look on all walls where I think plumbing can be just to try and see if any water problems exist. For the attic I am looking a at the sheathing underneath if there is insulation I am looking and feeling for damp or water stains. When is doubt assume the worst. Overall, winter buying is a tad more involved but no more risky then warmer months. The key is to present cold weather issues if they exist. Remember not to look at a busted pipe as a major issue but instead as an opportunity to get a property at a lower price. 

I would be happy to walk through a property with you  to show you how I look at a property during the winter months and identify opportunities to lower the price. Remember it is a depreciating asset more so in the winter months so use that to your advantage.