Did you do the Septic System Inspection? - Ayal Joshua

Multifamily Missteps Hosted by Christy Keeton

We always hear about the importance of due diligence. Well, we can never say it enough as Ayal Joshua shares his real estate experience of a costly fix that shouldn’t have happened. He goes over the turn of events and the steps he had to undertake to make the property function without compromise and worked on lowering the cost. He emphasizes the value of going beyond what’s required and practicing caveat emptor: “Let the buyer beware.”

[00:01 - 03:49] Opening Segment

• Ayal Joshua on getting into multifamily as an electrical engineer
• Investing in your own backyard to see all the bad, the good, and the ugly

[03:50 - 12:46] Costly Fixes That Shouldn’t Have Happened

• Why you should go granular and do the septic system inspection
• A costly mistake that could have been avoided through due diligence
• From $400 to $60 a month for city water and sewer

[12:47 - 15:32] Considerations for Cutting Down Cost

• Cutting down costs without the compromise
• The virtue of doing more than is required

[15:33 - 19:24] Closing Segment

• Do your due diligence and do the inspection
• Final words

Tweetable Quotes:

“It all starts when you're purchasing the property. It all starts with your due diligence… The other thing is, you've got some properties that are connected to the city sewer, so they have septic tanks, and many people don't do the septic tank inspection. Sometimes that's critical.” - Ayal Joshua

“You have to exercise the letter buyer beware, you know, the caveat emptor. Do your due diligence, do the inspection.” - Ayal Joshua

Learn more about Myers Methods of Multifamily Investing: http://bit.ly/37u6oK3

Register for Myers Methods Multifamily Investing Course: https://bit.ly/37iozkB

Learn more about the Mid-Atlantic Multifamily Conference: https://bit.ly/2V7SlCC

Go to rentometer.com to get a free 7-day trial and try it out for yourself.

Rentometer: your source for local rents, comps, trends, property details, and more.

Support the show

Are you feeling overwhelmed with Multifamily deal analysis? Are you uncertain about the right investment? Christy is an expert underwriter and mentor and wants help you on your journey! Visit her website at www.ChristyKeeton.com to book a discovery call now.