When analyzing a potential real estate investment, a thorough property inspection is a must. In fact, it’s a good idea to have different property inspectors provide their services on the very same property, especially so if the investment is a bit larger than previous ones.

Real estate Investment Repairs

A proper inspection will tell an investor what needs fixing, what can wait and the things that are just fine with the property as well. If your tenants call you up at 3:30 in the morning and you’re not using a property manager, well, let’s just say that 3:30 is awfully early to be playing landlord. Especially in the dead of winter and it’s below freezing outside.

Water problems can be easy to spot or hard to detect. But if water issues are present, they can be a real disaster if not identified and prevented ahead of time. For example, you visually detect water leaking into your basement or through cracks in a faulty foundation. To fix the problem, find a way to move the water flow away from your building and make sure any sump pumps are operating properly. If the foundation is damaged due to unseen water pipes underground or other foundation issues, this might be the sign of a property you should avoid without a complete foundation overhaul.

If you identify water spots in the ceiling or around a fireplace, it’s probably a roofing issue yet it can also be a sign of collecting water from an interior water pipe in between floors or walls. This condition can also cause mold and damage drywall. A pipe burst is easy enough to identify and is typically relatively easy to repair.

The least worrisome of water problems involves wasting water such as a leaky toilet, a bad hot water heater or puddles of water that seem to form around appliances during and after use. Most such issues are corrected simply with new caulking or replacing hardware.

Being a landlord and owning investment real estate doesn’t mean the work is over, especially if you manage the property on your own. But if there is one culprit that can wreak havoc on your real estate it’s water. Be on the lookout.