A property inspection when buying apartment buildings. That’s a question we get asked a lot
here at CVPA and Eric why don’t you elaborate on that?
So like I tell everybody they’re are PROS and CONS to this depends on where you are as a
buyer in your cycle. Ultimately, I always suggest everybody do a property inspection.
Now pros. Do you know what you’re getting into? What the condition is? Is there any
repairs that need to be done and potentially you were able to use that leverage to negotiate
repairs, negotiate price reductions, things like that.
Cons: The one con I can tell you that I’ve experienced with inspection on multi family properties
is the companies are not created equal they are tons of companies that out there that are doing
these inspections.
We get them back guys and they are talking about broken light switches. Unleveled steps on the
exterior like that does not matter to an apartment owner. What matters to an apartment owner is
the heavy items they’re going to need to repair.
Broken light switches, blinds, stuff like that are going to get repaired when the tenant moves out;
it’s not important to the actual structural integrity of the property.
So we focus on HVAC, roofing, electrical, plumbing, dry rot, pest, anything along those lines
is important. Cosmetic stuff is not important in a deal. If you’re doing a deal with us, don’t bring
that shit up to me you’re going to waste your time.
Esteban can you tell us a little bit about the company we use and why we use them exclusively?
Yea of course. You know after selling a lot of apartments we’ve ran through a lot of inspection
companies and they are good at what they do, which is they inspect houses.
But when it comes to apartment complexes, we strictly only use Signature Properties Inspections with Jacob Friedman.
They are our number one inspection company when it comes to who we advise our clients to
choose when picking an inspection company.
They are really good at what they do, that’s why we use them exclusively and we recommend them to everybody that’s buying apartments to use them as well when buying in Kern County.
So that’s it for today guys stay tuned for our next video feel free to like this share this tag a
friend and we’ll see you on the next one!
