8) Get a C.L.U.E. report before you purchase a property? What is this? Hint: Provides history. www.choicetrust.com
Answer: Did you ever go into a house or property and have a feeling that something happened to this structure but it is difficult to pinpoint. Here are some ideas to help you with this feeling:
Bonus: FREE Wholesaling ebook and other bonuses: robertkburns.com/recommends/learntowholesale
7) When you are finished rehabbing, based on the age of your property you may need a four point inspection. What is this and what is it for?
Answer: Insurance companies and state counties will grandfather in single family homes that are not up to existing code regardless of the home's age. If you decide to refinance the home or pull permits to rehab it, the home's age may become an issue. The age of the home starts to become a factor when it passes its thirtieth birthday. Some counties have different age parameters but you get the idea.
Insurance companies want to make sure the house has been brought up to code before they issue an insurance policy. During a Four Point Inspection the insurance company looks at the following to see if they have been bought up to code and functioning:
a) Roof
b) Electrical
c) Plumbing
d) Heating & A/C systems
P.S. Make sure you have the water and electric turned on at the time of the inspection.
Bonus: FREE Wholesaling ebook and other bonuses: robertkburns.com/recommends/learntowholesale
6) While purchasing a bathtub, make sure you are buying the correct one. Hint: Right & Left.
Answer: When rehabbing a simple bathroom, nothing exotic just a bathtub with water and shower fixtures, make sure you know what you are about to tackle.
The old style bathtubs are heavy and usually sealed on three sides by ceramic tiles and caulk. The intersections between the wall, the tub, tiles and water fixtures are areas of water intrusion and can be easily damaged during the bathroom's rehab.
If you determine that you can't avoid ripping out the old tub and need to purchase a new bathtub, make sure you note which side the bathroom fixtures are on; right / left. From personnel experience I never did that. I purchased the new bathtub, had it delivered, ripped it out of the box and slid the tub into place. Imagine my surprise when the holes for the water fixtures where on the opposite side of the tub! Man was I upset. I couldn't just turn the tub around because of the way it was designed for intersecting the three walls. I had to take it back! More work, time and money!
Bonus: FREE Wholesaling ebook and other bonuses: robertkburns.com/recommends/learntowholesale
of While Rehabbing a Property
robertkburns.com/recommends/learntowholesale
<=== Download
Preston Ely's FREE Learn to Wholesale eBOOK plus
BONUSES (If link fails cut
& paste this link:
http://tinyurl.com/learntowholesale into your
browser)
No Tissues for Issues,
Bob Burns
www.investmentpropertiesmiamiflorida.com
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Educating Investors in Real Estate Investment Strategies that produce multiple streams of Cash Flows or Assets.
Robert K. Burns arrived to South Florida from Puerto Rico in 1988. He started investing in various assets while living in Puerto Rico and continued here in South Florida. His experience includes buying pre-foreclosed properties, tax lien purchases, buying and selling discounted paper, rehabbing various sized properties from single-family homes to multi-unit buildings, education and consulting. He enjoys helping investors achieve their investment objectives by providing his experience, resources and knowledge.
Bob,
I just wanted to congratulate you on last night's meeting, it was amazing!
Your wife Alex gave some great tips on performing Short Sales and Paul Woods presented some incredible information about Florida Land Trusts.
My company, Apex Title & Escrow, has found that being a corporate sponsor for the MREIA is the best value in town.
Where else can you present information about your company to a targeted group of people, as well as having your own table, for only $30 per meeting?
Thanks again for everything.
Best regards,
Joey Rodriguez
President
Apex Title & Escrow
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