Hopefully this website is a bit more raw / uncut / honest. This is JUST an information site, with nothing for sale - and the information is based on my 20 years of property investing experience. What's the catch? Why would I give all of this information for free? Well, it firstly it might stop you from making some of the mistakes I had made, and second, I do hope that you might like to book me as a consultant to help guide you (no pressure). I charge 1k a day, no strings and no up sell.You might not like what I have to say, and I might talk you out of property investing!
Viewing a property as a new investor can be pretty scary. Often we do not know what to take, what to look for, or whether we should pay for a full survey.
Here is what I take with me on a viewing
Double headed Screwdriver, Torch, Socket Tester, Damp Detector, Mini Level, Self Survey Form, Laser measure, 4 Way Utility Key, Peg.
May seem a bit odd to take this but many times I have viewed a property, particularly one that has had a lot of bad DIY, and cupboard doors have been screwed close, or had door handles missing. I may have to lift a floorboard, or prise something apart to get the full picture / lift a bit of a carpet etc..
I take a torch with me as the electricity may not be working, especially on an empty property. I want to be able to see any damp patches or tell tale newly decorated areas clearly. Some property may have windows boarded for protection, and this will help me see better. I might also be able to pop my head into the loft if there is a ladder.
I take a socket tester to use it as a negotiation tool. If the electric is on, you plug it in and the lights show a fault you can tell the seller that the wiring is dodgy and that you may have to put in a low offer to cover the costs of a rewire, as you can't tell how serious it is until you get an electrician in, and you could insist on a periodical report being done if there are lots of problems.
Damp Detector
I take the damp detector around with me for the same reason as the socket tester. Sometimes I spot a damp patch that I know is due to a loose guttering pipe outside, but will make a fuss about it all the same, drawing attention to more cost.
You will find it easier to negotiate lower prices if you can point out problems that you are "not sure" how bad they are.
I take a mini level to point out very obvious flaws in flooring and walls that I think will need rectifying.
This is something I rely on less and less, the more experience I have. I used it for making a note of works that needed to be done, then would write down the estimated costs next to it of works that I believe need to be done. Once you have done this a few times, and then compared it to builder quotes, you will get an idea as to what things will cost to do.
Sometimes you just need to know how "small" a room is to push even harder to get the price down. This handy tool that I use I place on the wall at one end, and it show me the reading on a digital display.
I like to check my meters, to see what type they are, see if they need replacing, and that they are not pre pay meters. The key will open gas, electric and some water meter doors. It will also fit some water valves to check if the supply is ok, and will bleed most radiators.
Last but not least - a must for viewing empty property - take a peg and DON'T open the freezer if the electric has been off! Sometimes you can find the most awful smells in a deserted property!