Property
Walkthrough Checklist
Every real estate investor knows that the property walkthrough can make or break a deal.
Every real estate investor knows that the property walkthrough can make or break a deal.
It’s that moment when you step inside and ask:
Are there any hidden issues I’m missing?
The fear of overlooking something can be a heavy weight to carry. After all, one missed detail can turn a promising investment into a financial headache.
The good news is with the right checklist, a walkthrough doesn’t have to be stressful, it can be exciting!
5 Steps for a Confident Property Walkthrough
1. Exterior Condition
Don’t skimp on curb appeal, Gorgeous! Check the following:
- Roof condition.
- Foundation cracks.
- Drainage and gutters.
- Landscaping and potential hazards.
A solid exterior means happier tenants (or buyers) down the road.
2. Inspect Key Systems
This is where the big-ticket items live. Inspect these first:
- Electrical panel and wiring.
- Plumbing and water pressure.
- HVAC system.
- Water heater and appliances.
Tresa’s Tip: Document any issues with photos.
3. Interior Condition
Look beyond cosmetic fixes and take notes on these:
- Wall, ceiling, and floor damage or water stains.
- Windows and doors for drafts and functionality.
- Signs of pests or mold.
Small repairs can be budgeted, but major structural issues could be deal-breakers.
4. Layout
Walk through the rooms as if you were living there or showing it. Consider this:
- Does the layout make sense for everyday living?
- Is there enough storage?
- Will people feel comfortable here?
Tresa’s Tip: A property that functions well is more likely to attract tenants or sell quickly.
5. Take Notes & Compare
As you walk through, take your time. This is your moment to shine, Gorgeous!
Here are a few final thoughts to consider:
- Strengths, weaknesses, and potential upgrades needed.
- Estimated repair costs (if any.)
- How this property compares to your investment goals.
Your checklist is your safety net. Save this list to keep organized and confident.
FAQs
How detailed should my walkthrough checklist be?
As detailed as possible. The more thorough your notes, the fewer surprises post-purchase.
What if I miss something?
No one catches everything, but having a checklist and photos reduces risk. Always follow up with inspections and professional assessments.
How often should I use a checklist?
Every time you visit a property. Consistency builds expertise and confidence.
Do experienced investors still get nervous before a walkthrough?
Absolutely! The difference is preparation, they know how to manage and what steps to take.
Ready, Gorgeous?
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