Flipping has become a disease. I don't know if it is all those TV shows or predatory wholesalers. The market is definitely flooded. Investors are buying cheap houses--sight unseen. Ten, 20, 30 a month. They don't care about the buyers or the neighbors or the integrity of their rehabs.
This means Building Inspections more important than ever. Today I went to the inspection with my buyer. The 100 year old house showed well. The finishes were inexpensive--but tasteful. The basement, however, told the tale:
Nine joists--9! in the basement of the 900 sq ft house--had termite damage and powder beetles. Instead of fixing the joists to insure the integrity of the structure----the first thing the Flippers should have done--they drilled holes in the joists to run their wires and pipes and cables--further undermining them. We have had a lot of rain and the whole basement floor was damp. They were too cheap to pour some concrete and put a drain in back.The crawl space under the little kitchen was full of dirt--they didn't bother to get rid of it to run their wires. They just ignored it. They did not bother to put a piece of plastic down as a vapor barrier. I could go on and on.....
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