A Simple Property Inspection Checklist I’ve Used for Years [FREE DOWNLOAD]
You've come to the right place because we're giving away another tool that you can swipe and deploy to help you level up your REI game, hooray!
Hey there, JP here… coming at you with a document that’s extremely practical for every real estate investor.
But hang on a hot minute…
In case you don’t know already, there’s an entire “Swipe & Deploy” goodies category over here—which we’re always adding to, and currently gives you everything from an agreement for subcontractors and a contractor lien agreement to an affidavit of equitable interest, a transfer property letter and a simple real estate contract.
Plus, a tasty option agreements, a letter of intent template, MLS keywords, a seller phone script & voicemail script — even some marketing goodies like one of our favorite motivated seller letters and seller postcards too.
Check those ⮅ out to better equip your business with super-helpful tools.
OK, before moving forward with our swipe and deploy, I have a question first: When you’re out there on the scene, looking over a property, what’s on your mind?
Yes, of course, you’d like to be 100% focused on looking at every detail of the property. But you may also be trying to discuss matters with the potential seller. That can be a big distraction.
So, how do you keep your mind focused? How can you be sure you’re not missing an important element of the inspection?
If you’ve ever had that scattered feeling, you’re going to love this property inspection checklist that I’ve been using for years. It’s saved me hours of time, and sometimes even saved me from making an expensive mistake.
But, wait, there’s more…
In addition to letting you swipe this list, I’ve created a detailed video for you that explains exactly how I put this list to work in my own real estate investing business.
After you watch the video, you can then customize not only the physical list, but also the manner in which you use it.
Press play, friends…
Video Transcription:
So you've got a great deal that just kind of fell in your lap — a property that hit your radar and, you know, time is of the essence. You need to get out there and size it up quickly, make sure that what looks like a deal from afar and smells like a deal, actually maths like a deal. That means you or somebody you trust has to go out and lay eyes on that property and make sure that the numbers work.
But when the pressure is on, in times of the essence like that, how do you make sure that you don't accidentally overlook or forget to inspect something?
Would it be great if you had a cheat sheet, maybe a seasoned investor's cheat sheet that you could just have in your bag of tricks, pull out and make sure that all the boxes are checked? What if you could get access to that free of charge, no strings attached, and even get a quick walk through so you really understand how to read it and use it?
Let's talk about that.
Hey, what's up, guys? JP Moses here. Hope you're doing well. In this video, I just want to kind of quickly run through a neat little form I put together many moons ago and we still use… we use it a little differently than we used to, though.
It's the Property Inspection Summary that you see here before. It's a pretty darn simple document, so there's really not a lot that I need to explain to you, but I think it may be helpful to walk through a couple of elements on it and explain how we use it today.
So originally I put this together. I had, like, a gazillion of them printed and stuffed in this normal size manila envelope that I kept on hand in the car. And the idea is I would use this form to quickly assess a property, just get all the necessary info that I need to size it up all on one side of a single sheet of paper. And then I would maybe use the back for anything extra that there wasn't a space for on the front, something like that. And then armed with this document, I would get in, get it done, and get out as quickly as possible, especially if it's one of those days where I printed off like 15 different houses that I want to see.
So I would aim to have this thing filled out and maybe snap some digital pictures on my camera all in about 15 to 20 minutes. And sometimes I actually accomplished that. And then I would also keep a copy of this filled out and tickler file, even if my offer was turned down. That way I could go back and quickly size up the house and what my last offer was and that kind of thing, and then see if I might want to follow up with another offer.
Personally, I found this little piece of paper particularly helpful when I'm making a lot of offers on houses. Really just helps keep everything organized and in one place. So originally I filled it all out.
Nowadays, my business is set u/houses, and he is not very good at filling stuff out… and we use Podio now. And Podio didn't exist back in 2001 when I created this document. So some of what you're about to run through, we do on Podio now instead of this document. But some people are just not digital folks. Some people don't really like computers. They like doing things on paper or whatever.
Even if you are using something like Podio for some of this information or some other software, at the very least, and this is more how James uses this today in our operation, this is a good checklist so that you don't forget to review things when you're at the house.
I don't know about you, but when I'm out at the house, I am really trying to focus hard on the seller and building rapport and uncovering motivation. And I'm focused on every ninja, Jedi, mind trick and connection technique that I've ever learned. And when you're doing that, sometimes it can be hard to remember everything about the property that you need to look at.
So there's been many times when I didn't have this to use as kind of a mental checklist or a written checklist. I guess it's not mental. And then I ended up going I don't really remember if there were foundation issues because I totally forgot to even look at the foundation. Obviously, that can be an expensive mistake to make. So even if you don't fill out paperwork like this, I would recommend that you have this handy to use as a checklist.
So let me just walk through it. Whether you use these kind of sheets or not, when you visit a property, obviously you got the street address. If it's an MLS listed property, I find it very handy to have the MLS number on this document, the area that it's in. So, like, in my area, I might say Collierville, or I might just put it the zip code right there, or west side of Main Street, if that matters. Whatever it matters to me about the area, I'll make a quick note of that.
Whether it's a single family or a two family or something else, I want to put the date so I can remember when I was there. The square feet, the bedrooms, the bathrooms, any other rooms, and whether it's vacant or occupied. So quick little rundown.
Now, you can also, by the way, have your bird dogs fill this out. This is a great little form. If you have bird dogs bringing you leads, you can even create a digital version of this if you prefer to have them fill it out online. But you can use this as a template for the information that your bird dogs need to give you before you'll even look at a deal from them.
Okay, so let's just run through this real quick. Roof repair, replace. And the idea on this form would be that you check here if it needs work and that you would check here if it's okay and in good condition. And then any comments? Obviously, you're not writing a novel. Just any quick notes that you want to make about the roof. You would make it here, and then if you're comfortable estimating the repair cost just based on what you know roofs for this type of house and size are going to cost, then you can go ahead and supply it right there.
Then you just run down the list. You lay your eyes on the exterior and see what the condition of the paint and or siding is. Do the windows need to be replaced? Does the foundation needs any repair. Garage or other parking? What's the condition of it? Does it even exist? Does it need landscaping? Obviously, that's going to vary depending upon what's going on in your area, depending upon whether it's a rental or going to be a retail exit strategy.
Does the exterior have some debris that needs to be cleaned up? Interior debris, interior paint, carpentry, any woodwork that needs to be done on the inside. What's the condition of the heating and cooling system? I can't tell you before we had James using this checklist, how many times he would say, I don't know, really, I don't remember if it had central air or not because he just forgot because he was building rapport with the seller.
Lay eyes on the electrical system. Is it updated or not? Are we dealing with fuses? Are we dealing with breakers? Are we dealing with some kind of, like, crazy hybrid? What's the plumbing situation? Carpet, vinyl? Needed anywhere. Kitchen? Does it need any repairs? Bathrooms? Septic tank, oil tank. Well, anything else?
So there's your checklist, right? And then you can add up all your repair items and then give yourself an estimate. Any other comments, there's a spot for that.
Down here I created these little areas so that I could do some quick calculations. And the retail calculation, this is just your classic MAO formula, right? ARV. What do I think the ARV is? Make a note of it here. Obviously, I'm going to look at some hard comps to determine that. Times 70%. What is times 70%? Less estimated repairs, less anything else I decide I might want. Like my wholesaling fee, for example, could go here, and then my maximum allowable offer, I input here.
If you are looking at this as a rental property, not a retail analysis, then this is a type of formula that I have used to calculate a rental MAO. It may or may not apply to your area. Each area tends to be rather specific as to what the landlord's formulas need to be. So you're going to want to probably tweak this a little bit to match what landlords think is a good deal in your area. That, by the way, is why I'm giving this to you as a Word document, so that you can edit the crap out of this if you want to. But you have a good framework to start with.
And then ultimately you're going to make a note over here of the asking price. Like, if it's a listed property, they have an asking price and the listing agent, who the seller is. And then down here at the very bottom, just an opportunity for you to make note of any offers that you've made whenever you make your first offer, the date, if they counter, the date that they counted and how much, second offer, all that kind of stuff. It's pretty self explanatory.
I found this section especially helpful when I was dealing with a lot of MLS offers, and there was a season in our business where we did almost exclusively deals from the MLS.
So take this document and revamp it. Make it your own. If nothing else, you could just use the left side here as a checklist. Like I said, when you go to the property, or you can print it off and use it the exact same way that I used to use it. Like I said, we don't fill this out on every deal anymore. It was a great aid to me earlier in my career, though, and at this point, the biggest value it has for us is James uses it as a checklist. So it's yours to do it as you will.
Guys, if you haven't done so lately, make sure you check out all the other goodies that we have available for you in the Swipe and deploy section of the site. And look at all of the awesomeness. I'm talking scripts, checklists, contracts, affidavits, all kinds of stuff pulled right out of mine and Patrick's real life real estate investing businesses.
And call to action here after you download this form and add it to your arsenal. If you have anything that we haven't already given you that you would like us to consider for a future Swipe and Deploy, please leave it in a comment below. We'd love to know. I'm always wanting to deliver for you guys what's going to help you the most based on where you are in your business right now. So if you don't have something like that, some kind of form or checklist or whatever that you would like, raise your hand tell us what it is by leaving a comment below.
All right, thanks, guys. Appreciate you. JP out.
Property Inspection Checklist: Get Mine Now 🙂
Once you start using this checklist, no part of the inspection will ever slip by you. Why rely on your memory when you can be using this incredibly detailed list?
I hope you'll use it improve the way you do business. So, ready to just grab mine for your own bag of tricks?
Awesome, here's how…
Step 1 ⤸
“Like” our Facebook page please?
Step 2 ⤸
Just leave a comment below sharing your honest feedback on the property inspection checklist I'm freely sharing with you. Whatever you think after hearing my thoughts behind it in the video above. Good, bad, and anywhere in between. Seriously.
Alternately, I’m also interested in hearing anything else (another resource or tool) that you’d like us to share in a future “Swipe & Deploy” like this. Do tell.
Step 3 ⤸
Then Chuck Norris will hand you over my template.
Totally serious. Just try it. 😀
Have at it… swipe away, my friends. And don't forget to be awesome today!
Love Checklists …. simply but effective
This will be helpful, May want to convert this into a mobile app for your users…..just a thought.
As a complete newbie this will really help! Thx!
As always Thanks for everything you provide.
Thanks for the checklist! This is super helpful.
Great content JP, you da man?
So great to have a full checklist for residential purchases!!!
I’ll most definitely put this to use
Always like to have another useful tool in my toolbox. This checklist will definitely come in handy!
Thank you! Cool stuff!
Thank you for sharing your checklist! Awesome!
Awesome checklist that will help me ensure that I am capturing everything so that my offers on acquisition and rehab costs are more accurate.
Very good checklist! Thank you!
Appreciate your checklist – no doubt will be very helpful!
I’m making sure that we implement this
You are awesome!
Uh .. er…um…I was told and applied for a home inspection job, $15 to $40 a property. But it appears to be something else.
Really useful resource and very appreciated
I agree that having an available checklist whenever looking at a home is invaluable. It’s easy to get excited, or in a hurry, and overlook items that are important to the bottom line. I have a checklist that I put together myself , and I’m always checking it against other tools to make sure I’m not missing anything.
I’m excited to have your successful checklist so I’m not guessing on my own.
Great tool! thanks for sharing!
I like that I can use this list for anyone
This checklist is very thorough
Thanks for always sharing such great insights!
Great stuff! Thanks so much for all your help!
Thank you for the check list. Great tool!
Perfect timing going through this right now
Thanks for the materials
Yeah! This form is a great timesaver! + it frees up my mind so I don’t have to try to remember all the important stuff I’m going to need to know later.
Awesome job JP! “U DA MAN !!!” ( You are the man)
Great tool for me to use, I love it!
very handy
i appreciate this checklist
Thanks for a good checklist. This will help me a lot.
Great checklist
I am always grateful for the many tools and resources shared within this community of knowledgeable people. This is definitely another “swipe and deploy” gem and takes the guesswork out of the process of property inspections.
Thank you once again!
Inspection lists are great tools!
Lists are powerful when they contain accurate data. With a check list like the inspection list, one can be consistent and have the ability to measure and compare the collected data. Because not many do it, it gives the ones who do an immeasurable edge. Thank you for sharing your list 🙂
I LOVE LISTS — THANK YOU
I think the checklist will prove helpful deciding if you have the following classifications: bad, very bad and awful.
This is going to be a huge help
This will sure make our work load easier.
I’d like to compare it to mine, see what’s better, it’s got Two lines.
Is it a house?_________
Is it Upright?_________
Awesome sauce. WIll definitely use this tool. Thank you !
Thank you for a great checklist!
Training is spot on. Still looking for the checklist! Wheres Chuck?
I agree , it is a good tool; do you use this for a one-day flip?
Thank you for helping my brain to not turn to mush in the midst of all the new information by providing yet another tool for optimal performance, tracking and ultimately saving time:) this little nugget is greatly appreciated!
Good stuff. Thanks JP
I just started watching the videos and learn the check list looks good
Thank you for sharing such a great opportunity
Lists always make life easier.
Thanks for simplifying the process. Easier to have it written down.
I’m a paper person so this form is ideal for me. Thank you so much!
I want to get into the world of AirBnb, but I don’t understand how to get started and I think your help is essential.
Thanks
Great practical tool to use for every property being evaluated. I love that you added the offer amount(s) and date(s) at the bottom so everything is on one document I can quickly refer back to later as needed. Thank you!
This will definitely be useful when looking at properties. Thank you.
Awesome check list! Being retired military, I really appreciate check list! Thank for the tool!
This is a great tool!
This is a nice user friendly lay out on how to assess properties for a beginner such as myself. I dont have to feel lost when I apply this worksheet.
I don’t really understand but I’m ready to learn
This checklist is exactly what I needed at this time.
Thank you so much!
This is going to be a life saver
Thank you! I’m excited to use this tool. I think this will be extremely helpful.
Great checklist
Thank you! I will not reference this for an inspection!
I’ve always wanted something like this to be able to use
Great, useful tool.
I think this tool is absolutely marvelous. A super helpful list. I am new to this and it is going to be such a huge help when out in the field. Thank you for all the great tools! Let’s do this.
I think this tool is absolutely marvelous. A super helpful list. I am new to this and it is going to be such a huge help when out in the field. Thank you for all the great tools!
My mind is not what it used to be, so this is great, Thanks a Million.
This will be helpful thank you.
This one is a gem ..thanks again!
Definitely looking forward to using this…thank you for making things easier 🙂
Wish I had this checklist when I bought my house .Thanks again for this must have ..
Looking forward to using this. Thank you
As a beginner, I really appreciate this. It’s brief but comprehensive. Useful on either a clipboard or your tablet.
I’m excited to get started! The checklist will be very helpful!
Awesome short but comprehensive check list. Thx.
Love the extra free REI resources especially the property inspection check list. Can’t wait to add this to my tools of the trade. I’m hoping you will release a post card & other marketing tools for the “My First BNB” program. Lmk when that’s coming thanks!!!
Thank you. This is helpful
Thanks for the video, waiting for the tool
Very helpful and effective. This will prevent overlooking something that we will regret later. I will make it part of my buying process.Thank you for sharing.
Thank you for your training- just paused it so I can have the template, will press play when I am done with this
I enjoyed the video
That was great. I have a question will you ever do training on land trust? Do you use them at all? If so would you do a training like this one?
Interesting info
can’t wait to see it.
Very handy form. Definitely will use it.
This is an awesome tool to have handy! It saves time, money, and it illuminates having to backtrack. Thank you!
This is an awesome tool to have handy. It saves a lot of time and money, and I definitely wouldn’t want to have to backtrack.
Excellent video. I love this checklist. It listed everything you need for repairs as well as the breakdown of the ARV, and the percentage in order to make a reasonable offer.
GREAT CHECK LIST FOR US TO USE .
I am excited to try this checklist out. It will be nice to have a list of the things I need to look for. Thank you
Thank you! I’m excited to use this tool. I’m new to this and I think this will be super helpful.
Love the spreadsheet! Very detailed. We will know that we are not forgetting something. Thank You!
I honestly have no idea what I’m doing when it comes to real estate. I’ve always heard it was a good investment to take part in and I planned to look into it I just knew the typical process I wouldn’t have been able to do til I was financially stable. This gives me comfort in a way and makes me feel like I’m moving in the right direction and this checklist is physical proof of that. I’m praying God sees me through.
This looks like a definite time saver. A quick place to make sure there’s nothing missed on an inspection can save a lot of wasted time. And as they say “time is money”!
I think the inspection checklist is great, only wished I had it sooner on other real estate inquiry’s and purchases! I will definitely be downloading it and putting it in use!
This will help accelerate my learning curve on getting good at figuring out repair cost to produce solid final numbers!
Looking forward to working with you guys.
( SpongeBobSquarepants Voice ) I’m ready I’m ready I’m ready
This is definitely a tool that I will use. This is something that I was already looking for. Thank you for sharing!
I will be using this.
Interesting info
Looks like a very doable list. It’s easy to get distracted while in the property, and this will help keep things moving smoothly
Amazing tool for enhanced profits.
Great strategy to take away the fear of the inspection.
Making a sure fire bid when negotiating any property.
So, I have just logged in and am so happy to be here! I’m ready to rock-n-roll!
I really like the checklist but I wish it were more of a 4×6 index card size. That would make it easier to file.
great stuff
With this tool, inspections and calculations can be done all in one place and shared with buyers or other investors. Another tool that I think should be shared is a step-by-step checklist for beginners on the wholesaling process. By checking off each step of the process, they can ensure they don’t forget anything.
A tool that I will use for sure!!