A lesson I learned early on is about Structural Faults.
One of the things you should consider is whether your properties have good structure and building standards. This is one of the reasons why I recommend that you only purchase new properties for investment, as it reduces the likelihood of poor building standards.
These properties should also come with a builder’s warranty and structural guarantee.
Before we make a decision on a property for a client, we do our research on the builder. We engage only with the most reputable builders who have a proven track record of building in the chosen location. Lenders will ask to see the builder’s insurance prior to funding.
Before completing the handover of your property, you should have two building inspections carried out. Then when your first tenants move in, also encourage them to report all defects within the warranty period. This will ensure that these problems are dealt with before you have to pay for them out of your own pocket.
If you want more information please reach out to my team 1300 372 677 or info@integrityx.com.au.
See you next, when I talk about how to manage the risk of Pest Infestation🪳
~Daimien Patterson
👉Come and join our weekly webinars where we discuss strategies to improve your future, property investment tips and tricks, the do’s and don’ts of property investment, and much more! https://www.integritypropertyinvestment.com.au/property-investing-for-adf/
👉Become a Property Expert with my new book, Wealth Through Property. Order yours today! https://www.integritypropertyinvestment.com.au/wealth-through-property/