Archive for April, 2017

Lesson Learned while Searching for our Next Rental Property

The weekend means a lot of different things for a lot of people.  Some of you out there spend your weekends hanging out with your friends, partying, and celebrating your two days away from work.  Other people, like myself, spend their weekends on business ventures such as going to open houses with the goal of finding new properties to invest in.  At least that is how we spend most weekends, and though we don’t always end up making an offer on any homes, each potential property we visit helps us to better understand current market values.

For us, it is a good use of our weekend.

While there were no real good investments to find this weekend, we did learn a thing or two about water damage repair from a chatty realtor Saturday.  We were looking at a home that was priced well below market value, so we knew that something was up.  You don’t usually find deals like this in the current market, so we happened to ask what was going on.

He had a story to tell.

It turned out that the home had a bit of a flood after the drain pipe fell off of the upstairs washer.  They had hidden the damage by painting over it, but after the realtor had mentioned the issue, we could see what we were missing.

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Needless to say we walked away from that property.

But the silver lining is that we learned a valuable lesson that will be applied to any other property we might look at – so looking at houses this weekend was worth it.

Posted by Melissa Jones - April 16, 2017 at 3:17 pm

Categories: Real Estate   Tags: , ,