Los Angeles Real Estate Investors say, if you’ve ever bought a distressed property, you’re aware of the obvious signs of costly repairs.
Everything from warped floors, water damage in ceilings and bad electrical panels, are easy to see problems that could be costly.
Los Angeles Real Estate Investors Looks Are Deceiving
Los Angeles Real Estate Investors say, there will be times when you’ll walk through a house that doesn’t look bad.
It could have some aesthetic issues, a few cracked windows and peeling paint, these look like quick and easy fixes.
Even houses that may look perfect, can be very deceiving.
3 Property Issues To Look For
1. Electrical Problems
Los Angeles Real Estate Investors say, be sure to check the grounding on electrical outlets.
Sometimes homeowners and landlords replace old outlets with the new electrical outlets with three prongs.
This means that you have old aluminum or even bad knob and tube wiring.
Rewiring an entire house can cost over $10,000.
Make sure you use an electrical tester to check for grounding.
With the power off, pull the outlet out from the wall and look for any issues.
2. Dealing With Mold And Rot
Los Angeles Real Estate Investors say, take a very close look at any fresh paint.
Fresh paint can be a sign of a cover up, especially when it comes to distressed properties.
Previous owners will cover up mold and other stains on walls.
If the ceiling has a fresh paint look, it would be smart to check the attic for signs of water leaks.
3. All Kinds Of Water Leaks
Los Angeles Real Estate Investors say, look for caulking around the bathroom tub.
If there’s a lot of caulking, sometimes this means there’s been repeated attempts at stopping water leaks.
Dry caulking, cracked and peeling indicates a long term leak that could have rotted wood in the walls or floor joist.
Check around the tub for other signs of water damage
If able to get under the house, check the joists for any signs of rotting.
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