So I forgot my flashlight the day I wrote the offer and normally I dont look at any Grand Rapids Foreclosures that I buy for more than 5 minutes (No i’m not kidding) for fear of what I might find. I usually just figure there will be something wrong with everything. So I ordered the termite inspection and as always elected not to have the guaranteed inspection which would have only been $50 more.
Well, it had termites which turned out to be a blessing if you can believe that. Because of the termites I decided I should go check out the house a little closer, this time with my flashlight.
Now, usually I count on something being wrong with the furnaces, in this case there were supposed to be two. I also usually count on some serious electrical issues, along with some leaky plumbing, and a fix up or two on the water heaters, little did I think…….
As I walked down the basement steps (this time with my flashlight). I looked around for the furnaces to see what I had missed. Well I didnt miss any problems with the furnaces, because the furnaces werent there. The leaky water heaters that might need work, well they were stolen to.
Onto the electric issues, were there any electric issues? The question should have been was there any electric at all. Evidently copper prices are rising, because some brilliant fellow decided to steal all of the wiring all the way to the panels.
Thank god the pipes were iron, steel or whatever old pipes are made of, evidently not something that is not worth alot of money so they left them behind.
Whats an investor to do……………………to be cont
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About the Author:
Eric Medemar specializes in Grand Rapids Foreclosures, Grand Rapids HUD homes, and Grand rapids Rental Property. He owns 32 Grand Rapids Rentals and has already made over $100,000 flipping real estate in 2007. Eric is developing an awesome real estate Bird dog program, along with some fantastic internet technologies for realtors.
We’re having serious issues with copper plumbing being stolen all over Indianapolis, but I haven’t heard yet of people being that desperate to take the copper wiring.
I require all of my investors to get inspections done to ensure those types of things don’t happen to them as well before they purchase it. I don’t have the time to go check all of that out again and so it’s essential for me to have that layer of protection.
Congrats on a great start to the year!