Fixer Upper Pre–Offer Checklist

Fixer Upper Pre–Offer Checklist
by gregrussell

Hard Money Lenders Provide Fast Cash Loans for Investment Properties

Anyone interested in investing in today’s Oregon housing market knows that the competition is stiff in many areas of the state.

The lower sales price and potential ROI of fixer uppers make them attractive to a wide range of real estate investors, from those looking for their first investment to seasoned house flippers.

In a hot market like the Portland–metro region, where multiple offers are the norm, it can be easy to get caught up in the heat of the moment when a potential investment property comes along and make a not–so–smart offer on a less–than–worth–it property.

Here’s a quick checklist of the things to pay attention to prior to putting an offer on any fixer upper:

Pre–Offer Fixer Upper Checklist

1. Foundation and Structure: Carefully inspect both the interior and exterior of the property for cracks in the foundation, structural misalignment, or bowing around door and window frames.

2. Bathrooms and Bedrooms: How many are there and how many are enough for highest resale.

3. Water Damage: Research any flooding and/or flood zone issues. Check walls and basement areas for any signs of dampness or water damage.

4. Large Ticket Items: Confirm the age and condition of the water heater, furnance, roof, fireplace, etc. in order to determine a replacement schedule.

5. Financing: Have your financing options lined up. (See below!)

6. Budget: Know your budget, have an understanding of renovation costs – and be prepared for overages of up to 20%.

7. Inspection: Line up a trustworthy, experienced inspector you can call on when a property of interest comes along.

Use this list as your guide to make the right offer on the right property for the most successful return on your investment.

Oregon Hard Money Lenders Offer Easy Equity Loans

When it comes to fixer uppers, unexpected remodeling costs can present a challenge. Hard money lenders offer quick and convenient loans to investors when conventional funding options aren’t readily available. We’ve worked with house flippers and real estate investors throughout Oregon for over 30 years. Give us a call to learn about our hard money loan services at Gregory M. Russell. We’re happy to talk. 1-888-477-0444.

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