These are basic rules you need to abide by if you are thinking of investing in any form of real estate, especially in Louisiana and Mississippi.
For every purchase, consider this:
1. Neighbourhood - Drive by at night - Drive by after a rainstorm. Drive and walk the neighbourhood on a Friday night about 10:00pm. Can you walk by yourself? Who is doing what out there? Also, 10:00 on a weekday.
2. Structural – first look at the roof. Are the lines straight? Is the roof like Pee Wee's(c) playhouse? 3. Mechanical – look at the condition of the piping outside and inside/check under all sinks and behind toilets for leaks. Get an AC guy to checkout the AC system.
4.Pretty versus Ugly factor – what is the “Base” design? Is there a design? NOTE:Design = character = possible higher resale later with a little love/paint thrown in. Come see me or email for more details, and I can help you create your own more detailed checklist from this one.
ALWAYS create a written list of what you see.
Take your list home with you after looking at a property and this is the MOST important part...apply a dollar amount to every concern on the list. Money tends to help you see what is and is not important and prioritize in your mind and soul what you really want, can afford and afford to put up with.
Gotta question? Email IAN now.
