Top 3 Signs to Look For When Evaluating a Residential Investment Property In Eugene Oregon!

-Robert Grand

Today, I’m focusing on single-family residential investment opportunities and the top three things that I look at when I’m evaluating that property. 

And at the end of this video, I’ll have a unique offer for you to be able to work with me directly to look at investment properties with you, or even if you’re looking at that investment property as a potential home to live in and fix up, which I call value-add investing where you’re going to live in it and put that sweat equity into it, I’ll do the exact same thing for you.

Top 3 Signs to Look For When Evaluating a Residential Investment Property In Eugene Oregon!

Warning Sign #1: The Exterior

The number one thing is the exterior, and it’s pretty simple. 

As you pull up to the property, what does it look like? 

What’s the age and condition of the roof? 

What does the paint look like on the exterior? Is it chipping? Does it look like it’s falling off the house, or is the siding falling off the house? 

The next thing that you want to look for are major cracks in the foundation? Greater than half an inch is a cause for alarm. 

And then the final thing you’re looking for as you’re walking through the exterior of the property is any major moisture problems.  

Is there water sitting up against the foundation?

Is the yard mushy where there’s potentially some sort of a water drainage problem going on with the property? 

All of those can be costly items to work on.

Warning Sign #2: The Interior

Inside the home, you’re looking for major cracks running in weird spots on the wall and major cracks in the corner of a window area.

Does the property have a funny smell on the inside? Does it smell like mildew or mold? Any nasty pet odors? All of those things are really hard to get out and can cost you a lot of money.

Then we move into the kitchen. Is there dry rot under the sink?

Is the kitchen floor kind of mushy, does it have any soft spots? 

Then we head into the bathroom and do the exact same evaluation. How’s the bathroom floor around the toilet? 

Looking underneath the bathroom sink, does it have any evidence leakage there? 

When I’m touching the shower area or walking near the shower area, is it kind of wet or mushy? 

Those are all major issues that would indicate you have dry rot somewhere.

Let’s head into the garage. 

Does it have drywall on the ceiling? 

Does it have drywall on the sides? 

If not, you have yourself a potential fire hazard with a garage that just has two-by-four construction. 

Warning Sign #2: Major Systems

We’ve gone through the garage. Right there is where we want to be next for our next inspection, which is the major systems. 

Most of the major systems are in the garage. What you’re looking for is the plumbing, specifically the hot water heater. What’s the age and condition of the hot water heater? Does it have any rust or cracks around it? Is it leaking water? 

Now the HVAC system. What type of HVAC system is it? What’s the age and condition of the HVAC system? 

Does it have an AC unit that’s outside that you need to take a look at? And if it does have an AC unit outside, what’s the age and condition of that? 

The next thing that I look for on the major systems is electrical. What type of panel do I have? How old is that electrical panel? Is it from the early 1900s, or does it look like it’s been updated? A lot of times panels have a sticker that says when they were installed and who it was installed by. 

Modern electrical panels are typically 200 amp panels. Some of them can be bigger but I would say most standard homes that have been built in the last 25 years are 200 amp panels. Anything below that prevents you from adding anything requiring more power. So if you had to rewire the house, you might be stressing out the panel.

Recap

The top three things that you need to look for when you’re looking for an investment property:

  1. The exterior
  2. The Interior
  3. The major systems.

If you have any questions, do NOT hesitate to reach out!

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Robert Grand

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