1. Don’t try and improve the neighborhood with your purchase. In other words don’t buy in a depressed neighborhood. Buy neglected properties in maintained neighborhoods.
2. Is this a residential neigborhood? More houses than apartments, business, or industrial. Vernon, CA has about 100 residenses and is an industrial city.
3. Can I inspect prior to closing? You may be able to at an auction, but you buy “as is”.
4. Would I feel safe here at night?
5. Would the house conform to FHA lending requirements after renovations? Always think exit strategy when buying.
by Lambert Munz MPM, RMP
Buyer consultant and property manager
Visit www.arbourpm.com regarding our services
and our book store at www.expert-landlord-resources.com/resourcestore.html
featuring my book House Investor’s Manual
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