HomeVestors Knows What Investment Properties To Stay Away From


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When looking for an investment property, make sure to analyze the major systems for problems.

Dallas, Texas HomeVestors is the nation’s number one home buying franchise and has helped real estate investors purchase 50,000 properties over the years. The company knows how to avoid properties that are bad for investors. As a first time real estate investor, do not invest in properties that have electrical, foundation, plumbing, attic issues or landscaping problems. Leave these issues to the experienced rehabber because they will be able to accurately calculate the amount of money it will take to get these issues fixed.

If you aren’t an electrician, don’t get involved in an investment property with electrical issues. Even when a house is brand new, do not assume that the electrical system is good to go. Make sure to have an inspector ok the electrical work.

An issue with a foundation is certainly not a project that most investors want to take on. A foundation issue can happen by something as simple as bushes that have sprouted up around the house and effectively change the way the house sits. This could result in a cracked foundation that would cost thousands to fix. Over time houses will crack so don’t mistake these cracks for foundation cracks.

Plumbing issues are not something that first time investors want to take on their own. Once a pipe is damaged it may leak a bit of water and offer mold the perfect conditions to multiply. Now, not only does a house have a plumbing problem, it has a mold problem as well.

Many investors neglect to check out the attic but this is where valuable insight into the property can be attained. This could tell an investor if there was ever a leaky roof by traces of water damage. Sure the owner may have fixed the ceiling, but the attic still displays the remnants of this problem. A bug infestation in the attic can also spell trouble for an investor. These properties scream, “Stay Away!”

Any landscaping that is placed close to the house is of concern and purchasing a property with landscaping here could be a serious mistake. Make sure that rain water from the roof is routed away from the foundation because this can lead to damage over time.

Any houses that display any of these issues could create havoc for a first time investor. It is better to look elsewhere and find an investment property that won’t cost too much to fix and enable the investor to get the property back on the market rapidly.

About HomeVestors of America Inc.

Dallas-based HomeVestors of America, Inc. is the largest buyer of houses in the U.S., with 50,000 houses bought since 1996. HomeVestors trains and supports its independently owned and operated franchisees that specialize in buying and rehabbing residential properties.  Most commonly known as the “We Buy Ugly Houses®” company, HomeVestors strives to make a positive impact in each community.  In 2012, for the seventh consecutive year, HomeVestors was among the prestigious Franchise Business Review’s “Top 50 Franchises,” a distinction awarded to franchisors with the highest level of franchisee satisfaction.  For more information, visit www.HomeVestors.com.

 

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