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#376
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Original Transcript
I'm afraid of unexpected repairs and surprise costs. You should be, because what we are not expecting is usually what goes wrong. And what we are expecting usually doesn't. When you own properties, you've got to really do your diligence in the beginning and do an underwriting of the property. Meaning you've got to get good engineers out there, good inspectors out there, bring your contractors out. Most of them will come for free because they're figured they're going to get work out of you after you buy it. But bring your roofer out there and ask them about the condition of your roof. Bring your plumbers out there to check the pipes and make sure things are good. Bring a GC out there to ask about the structure. And hire a good company to tell you what is deferred maintenance. Generally with the building, barring any unknown situation like a stormers or car crashing through a window, we could kind of estimate when things are going to expire and when we got to replace them. But you as the common person or myself as well who's buying a property, we need experts to tell us when this is going to happen. So we got to rely on them. So use them for what they're great at.