One Of The Biggest Mistakes You Can Make As An Investor Is Believing The Lender’s Inspector Has Your Best Interest In Mind.
Have you thought to yourself, “I’m not like them. I would never allow myself to get wrapped up in a bad investment.
On the other hand…
A multifamily property that looks good on the surface but is, in fact, riddled with damaged pipes, an HVAC system on its last leg, leaking roofs, or foundation problems can cause significant budget overruns, send your profits spiraling and have you in the red—wishing you’d kept your money under a mattress instead.
One of the biggest mistakes you can make when considering the purchase of a multifamily property is believing the inspection paid for by the lender will provide you with the information you need to make the right decision.
Your Lender’s Objectives Are Not Your Own…
When a lender is considering the approval of a loan, they are looking to determine the level of risk associated with the investment and to ensure you have the ability to repay the loan.
They look at
- Your creditworthiness
- Your Debt-to-income ratio
- Your experience and financial stability
- The property’s current cash flow
- The property’s current cash flow
- The Loan-to-Value Ratio, which considers the appraised value of the property
- The location of the property
- The physical condition of the property (they are looking for a minimum livability standard)
- Market Conditions
- Property Type and Size
- And more…
The Lender-Paid Inspector Is Sent Out To Ensure The Property You're Considering Meets The Lender’s “Minimum” Standards.
With a Lender Paid Inspection, you receive:
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A single inspector or a small team of certified inspectors with a general knowledge of all systems involved.
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A Limited Sample Size. Lender-paid inspectors focus on a representative sample of units, typically around 15% of the total. This approach is aimed at identifying common problems that may exist across the property.
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A Quick Overview. Your lender’s inspector is looking to quickly and efficiently inspect the property and provide a general overview of its condition. They rarely delve deeply into specific areas or thoroughly investigate every aspect.
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The Risk of Missing Issues. Because of the limited scope, there’s a higher risk of missing problems that may not be apparent in the sampled units. This could include problems with appliances, electrical concerns, plumbing concerns, and more.
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Focus on Major Systems. Lender-paid inspectors prioritize major systems and structural components. They won’t investigate the details or cosmetic aspects of individual units.
With your OMNI team, you receive;
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A team of master-level electricians, HVAC technicians, roofers, exterior specialists and plumbers who inspect every system, building and accessible unit.
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A Comprehensive report that covers 100% of your property and accessible units.
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An in-depth analysis of each unit with a detailed evaluation of the electrical, plumbing, HVAC, and other systems.
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Localized Problem Identification. We help identify issues and concerns in individual units. Problems with appliances, plumbing leaks, or HVAC issues may not be evident in the sample units covered by a lender’s inspection. The OMNI team helps uncover underlying problems, giving you a more complete understanding of the condition of the property.
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Time and Attention to Detail. Your OMNI Team is thorough. Our master plumbers, electricians and HVAC technicians provide a meticulous inspection and work to uncover problems that are often overlooked with the “quick glance” approach of the lender’s inspector.
The Lender-Paid Inspector Is Sent Out To Ensure The Property You're Considering Meets The Lender’s “Minimum” Standards.
- If you are considering investing in a multifamily property…
- If you want to invest with certainty, knowing this property will produce consistent and reliable cash flow…
- If you don’t wish to be blindsided by unexpected costly repairs a few months or a few years down the road…
- If you want to know with certainty the true value of the property you’re considering, then your choice is clear…
Inspections Performed With The Team From OMNI Give You The Following Advantages:
- Independent and Objective due diligence, which ensures a more impartial assessment of the property without being influenced by the lender’s interests.
- Consideration of your interest above all else. Your interests are our interests. We have no conflicts and work to ensure your specific concerns and priorities are addressed.
- Thorough Examination. Your OMNI team provides a detailed and comprehensive report of each building, each available unit, and all the major systems from roofing to parking lots, plumbing and sewer lines, and more.
Ready To Secure Your Investment Now?
Gain Clarity with Due Diligence performed by an experienced OMNI team and Invest with Certainty
Click The Link Below To Schedule Your No Obligation, Fact Finding Consultation.
