Inspect HVAC how to invest in real estate investing beginner real estate investor

When Searching for #RentalProperty Inspect #HVAC! #propertybrothers

We meet with our Real Estate Broker on a regular basis to look for good real estate investment properties. As soon as we enter the property, we look for the HVAC system … Why? The heating ventilation and air conditioning (HVAC) system is one of the most expensive items in a home. If the HVAC needs to be replaced, it can easily cost several thousand dollars! We recently replaced the HVAC in a one bedroom condominium, and most of the estimates came in at $6,000 bucks! We kept searching and we were able to find on older gentleman who had a small HVAC company. His estimate came in at $2,795 and we took it!

When we locate the HVAC in the home, we look at the stickers to see if we can identify the year of the HVAC. The average life expectancy of HVAC is 15 – 20 years. If the HVAC is close to the end of the life expectancy, we adjust our offer to reflect a new HVAC. We also check the stickers to determine if the HVAC has received regular maintenance.

When beginner real estate investors are looking for a good rental property, locating the age of the HVAC can save thousands of dollars in repair/replacement costs. If you cannot determine the age by looking at the stickers on the HVAC, ask the real estate agent/broker who listed the property for sale. If the HVAC is close to the end of it’s life expectancy, this can be used as leverage when negotiating the purchase price. As real estate investors, we want to be able to sell at a nice profit in the future! If you have any tips for finding a good rental property, please share your real estate tip by joining us at Hands On Real Estate Investing!

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The opinions expressed herein are solely those of the Author/WebMaster. Before taking any action, please consult your real estate, financial, and legal advisors.


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