Most of the time, when we are inspecting a bank owned property, the power and or gas are not on. This means we are inspecting without watching or hearing the equipment perform. We are strictly going by sight of the furnace only. What should we be looking for; first look for out dated equipment. If it is 25-30 yrs. old, there is a good chance it should be replaced. Second, look for dirty or rusty furnace pans. Rust on the blower or motor may indicate that premature failure is likely. Also an examination of the air filter will help to see how it has been taken care of also.
If you can run the equipment, you want to listen for any noise in the motor or the squirrel cage as it spins. Most fan motors are replaced 3 times more often than the furnace itself. Not uncommon. Also look for a nice blue steady flame when the furnace ignites. This is an indication that the furnace is getting good airflow.
Oil Furnaces are similar, but too much oil around the furnace may be an indication that it is old and close to be replaced. If you do replace the old oil furnace, you may consider replacing with gas. Check out the options. Oil tanks in the ground have their share of problems and regulations. You will want to check with the local authorities.
Happy Rehabbing!!
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If you would like the chance to work with me or one of my fellow real estate investor coaches and our advanced training programs, give us a call anytime to see if Dean's Real Estate Success Academy and our customized curriculum is a fit for you. Call us at 1-877-219-1474 ext. 125
Most of the time, when we are inspecting a bank owned property, the power and or gas are not on. This means we are inspecting without watching or hearing the equipment perform. We are strictly going by sight of the furnace only. What should we be looking for; first look for out dated equipment. If it is 25-30 yrs. old, there is a good chance it should be replaced. Second, look for dirty or rusty furnace pans. Rust on the blower or motor may indicate that premature failure is likely. Also an examination of the air filter will help to see how it has been taken care of also.
If you can run the equipment, you want to listen for any noise in the motor or the squirrel cage as it spins. Most fan motors are replaced 3 times more often than the furnace itself. Not uncommon. Also look for a nice blue steady flame when the furnace ignites. This is an indication that the furnace is getting good airflow.
Oil Furnaces are similar, but too much oil around the furnace may be an indication that it is old and close to be replaced. If you do replace the old oil furnace, you may consider replacing with gas. Check out the options. Oil tanks in the ground have their share of problems and regulations. You will want to check with the local authorities.
Happy Rehabbing!!
If you would like the chance to work with me or one of my fellow real estate investor coaches and our advanced training programs, give us a call anytime to see if Dean's Real Estate Success Academy and our customized curriculum is a fit for you. Call us at 1-877-219-1474 ext. 125