Plumbing: 5 things to consider on your next deal

We all have done it. Walked through a house and missed things.

Well from the eyes of the investor, that stuff costs money if we miss it or don’t factor it into rehab, it can really cost. But lets talk about it from the eyes of the plumber

Lets talk about what’s plumbing:

1. 1.Furnaces-
2.        Hate to tell you, but they are not plumbing.
3.        Just because a plumbing shop offersfurnace service, does not mean their guys are    certified by anything but “time”.What does that mean? That means the service technician who has 12 years of furnace service learned on other peoples furnaces, not from a school or program. That also means that the young service tech who just showed up, is probably there for some on the job training on your furnace.
5. Solution- Call a furnace company, or simply ask how much experience the tech that they are sending has. You’re the Boss. Don’t be afraid to be the boss.
7. 2.Septic tanks-
8. Sorry. Still not plumbing
9. You can call a plumber out to snake a line, but if the septic tank is full, he can snake all day and never get anywhere. Good rule of thumb is, if you even suspect a property you are looking at might have a full septic, make the owners get it pumped before you take control of the property. If you made the mistake of forgetting, then suck it up and call the septic guy. I cant tell you have many people have gotten upset with me because I informed them that their drain was indeed clogged but not because of blockage and that I could not service their septic tank.
11. Solution- Ask the guy on the other end of the phone what you should look for to determine if it’s the septic tank. Also don’t be afraid to ask if he will charge you (during regular business hours) to just come look and determine if it is. Most plumbers can refer a reliable septic company to you. Remember, its all about networking.
12. Be nice to your service techs.
13. 3.Boilers-
14. Definitely plumbing!
15. A lot of people don’t know the difference between a furnace and a boiler. When you call a service tech to work on your boiler, not knowing the difference can mean the difference of a few hours’ worth of time, and don’t get mad at the tech, because you didn’t take the time to figure it out. When going through a property take a good look at the boiler and surrounding piping, and pumps, and control boxes, and circuit setters, and mix valves, ets… yes a lot goes into a hot water heat system. If you look at it, in the crawl or mechanical room and think eewwww….when you look at it. Then factor that cost into your numbers.
17. Solution- Get the heat system serviced, or make sure it makes it into the agreement of what the owner will get done before you take possession. Small price to pay for peace of mind.
18. I would strongly suggest that you have the current owner do it, because it may come out that several of the components are not operating properly and need changed.
19. Trust me. That can be spendy.
21. 4.Stops-
22. Definitely Plumbing!
23. Those cute little chrome things under the sink that turn the water to that fixture on/off. Most times the packing nuts right behind the handle are just loose, but if you don’t check them…. Don’t be surprised if Murphy comes to visit.
25. Solution- Just take a little time to tighten the packing nuts, or better yet have a plumber come through to do an inspection. With the agreement that he will fix the little things as he goes and alert you to anything over a certain dollar amount to fix. Above all, make sure those cool little chrome things are under the sink at all. Some older houses, or ones owned by DIY type people, never put them on. Why??? You ask. Good question. Because, they were cheap. Save yourself the time and hassle and just get it done.
26. 5.Fixtures (also known as faucets, shower valves, and tub valves)-
27. Faucets are some of the most ridiculous items in a house. How can that be? You say. Mike that is Just ridiculous, you say . I have seen people put the fanciest faucets in the world in their house, only to 3-6 months to get parts when they break; And yet others who will buy the cheapest faucet they can buy at home depot, and grumble the whole way home about it being $50. Fixtures need to be in good shape or they will nickle and dime you. Stems are cheap, but the plumber to replace it isn’t. you could do it yourself, but time is money. You need to make sure the fixtures are in good working order.
29. Solution- Believe it or not, the fixtures that plumbers get from plumbing supply house are a much higher quality then then what “appears” to be the same fixture on the Home Depot Shelf. I assure you, if you held the two side by side you would see. Home depots have considerably more plastic then their plumbing house counterparts.
30. Have a plumber repair or replace them and do it with a common, easy to locate brand, with a good reputation. If all else fails, ask the plumber what he recommends. I guarantee, he has a brand he prefers. I prefer Moen.
31. This also gives you an opportunity to build and network with someone you already need on your team.

All in all, its just about watching the little things, and knowing what to look for. Every investor makes mistakes. Im working on my first deal, on a duplex, as we speak, and I have made a lot of mistakes. Don’t even ask me about roofing.

However, it is my current deal that inspired me to help you with yours. Good luck, and always remember the plumbers Mantra:

“Don’t chew your fingernails, paydays on Friday, and brown trout always swim downstream"