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All Forum Posts by: Jada Walker

Jada Walker has started 1 posts and replied 5 times.

Post: HELP!!! Deal financing issue!

Jada WalkerPosted
  • New to Real Estate
  • Chicago, IL
  • Posts 5
  • Votes 0

Have you tried asking the seller to pay for some of the closing costs?

Post: How To Determine If I Need A New Roof??

Jada WalkerPosted
  • New to Real Estate
  • Chicago, IL
  • Posts 5
  • Votes 0
Thank you for your advice. I don't personally know inspectors but I will do a thorough search.

Originally posted by @Zack Thiesen:

@Jada Walker The money spent on an inspector will be some of the best you spend. Be sure to get one that comes recommended. The best ones are ex-contractors/people who used to work in the trades and are now do this in a semi-retired capacity. Others have never really worked on buildings in their life. Many inspectors are totally fine if you walk the house with them and are trying to learn what they're looking for/at. Their report will give you a decent idea of problem areas. But there are limitations to where they will and can look. Having the report ready and sharing it with a contractor who then walks the house for scope-of-work will give you a more thorough understanding of what is wrong and, most importantly, what it could cost you. Even still, pay them something for their time and get several bids for the work. You will likely be shocked at how different the prices can be. Do you know anyone who is a general contractor by chance? Maybe they'd be willing to help out and give you notes as a friend.

A building is a complete system that works together. To find points of failure can be a challenge. General contractors are contractors certified to work and have knowledge in most all aspects of that system, unlike other contractors who can have very specific concentrations and knowledge bases. But it is important to bring in that knowledge of the complete system. Because things can look fine and not be. Things can look awful and not be. For example, a roof can have discoloration and stains from a variety of causes. Some to worry about and others not. It's a big price tag... I guess all I'm saying is short of pulling up and seeing tarps all across the roof I would get a professional opinion on cost. Your specific REI strategy comes into play too on what you will be putting money into and where else it would be better spent.

But hiring an inspector and walking the property with them will help you a lot. The more you join in these conversations with the people you come to work with, the more you will end up absorbing. Good luck with your search!

Post: How To Determine If I Need A New Roof??

Jada WalkerPosted
  • New to Real Estate
  • Chicago, IL
  • Posts 5
  • Votes 0
Thank you for the great feedback :)

Originally posted by @Ben Sears:

A typical roof with architectural (asphalt) shingles has a life of approximately 25-30 depending on your locality. Determine the age of your house. If it's within the last 35-40 years and the roof doesn't look new then there's a near 100% chance that it's the original roof and should be replaced. To answer your question specifically, look for loose or curling shingles, discoloration, particles stripping from the shingles and falling in the gutters (they look like tiny pebbles), streaking, or roof leaks inside (a very late sign). 

My opinion on the plumbing is to rip it out if you are doing any type of substantial construction. There is no telling what people have done over the years to piece it together. The last house we did had a combination of PVC, PEX, garden hose, radiator hose, and duct tape (no lie!). 

On the electrical side, I'm always suspicious of 100 amp service and un-grounded electrical outlets. Open your panel and locate the main breaker. It will be stamped with either 100 or 200. 200 is standard and 100 means your property is likely under-serviced. Additionally, houses built before 1970-ish may have aluminum wiring. It's not the end of the world but it's something to consider. I would suggest finding a dependable plumber and electrician. Pay them $100 cold cash to come out and give you an honest opinion on your property. Ask tons of questions. In this business you only learn by asking. That way you'll know what to look for next time. 

Post: How To Determine If I Need A New Roof??

Jada WalkerPosted
  • New to Real Estate
  • Chicago, IL
  • Posts 5
  • Votes 0

Thank you for your feedback :)

Post: How To Determine If I Need A New Roof??

Jada WalkerPosted
  • New to Real Estate
  • Chicago, IL
  • Posts 5
  • Votes 0

Hello Bigger Pockets Family,

I am extremely new to real estate and I found some potential properties. All of them need work but how do I determine how extensive the work is? I can tell if the property has mold or water damage but what about a new roof, siding, or new drywall? Also, how do I determine if I need new electrical and plumbing?

If there is a contractor or handyman that would gladly answer my questions, I would greatly appreciate it!!