Christian Osgood says investors must personally inspect every building before buying it, not just read third-party reports. He walks every unit, checks roofs and sewers, and takes a full day for each property. When he looked at an 81-unit building in Abilene, Texas next to his existing portfolio, the hands-on inspection revealed what reports alone would have missed.
Chapters
Do not buy a building without doing a physical inspection yourself on site. I have inspectors going right now. We have 2 teams of 2. We have a manager over them, and lease audits are happening in the office right now. However, you don't rely on just the inspection report if you're buying a physical asset. You go out and see the physical asset. Now, this happens to be about 2.5 hours away from where I live. This is in Abilene, Texas, 81 units next to my 144-unit right down the street. For buildings like this, if I bought this And I'm bringing on some partners. So if you're raising capital for deals like this and you don't physically go out and see every single unit inside, outside, roof, sewers, office, whole nine yards, you should not be buying real estate. This is the simplest thing you can do. Part of your job. Take the day off for close, take the day off for inspection. Do it right.