Side hustle as a home inspector? good or bad idea

[affordablehousing]

Hey forum, has anyone launched a successful side hustle as a home inspector? I'm in a state with no formal license requirements, just reputation, insurance and word of mouth. I love looking at homes, telling people what's screwed up about them and how they'd renovate them and it seems a way to possibly get to be paid to mansplain???? I've heard some horror stories about lawsuits and homeowners blaming the inspector for everything, but think it would be a lot of fun too. What say you?

My dream would be to do one a week for fun. Day job is fun and cerebral so need something to balance it out.

[EXLIer]

I've thought the same.  I've done all my home inspections after my first house and having the "inspector" miss some critical issues which turned up shortly after the sale.

My sister just went into contract on a house.  She paid $600 for the inspector ( High I know but I was thinking, dang, do 1-2 of these a week and that would be nice), the guy was there less than 2 hours ( quick compared to most inspections IMHO), and he came refereed to her by her mortgage broker ( he was a neighbor of ours). 

Seems ike if you networked and hit all the relator events, etc and got your name out there, you could build up a good referral network and make some good money

[Dicey]

What are your qualifications?

[affordablehousing]

No real qualifications, just 5 years of remodeling experience and a lifelong interest in building systems. I was thinking it could be a fun thing to do. The state doesn't require any qualifications but I figured I'd take a couple classes. It looks similar to becoming a RE broker- there are plenty of cheap online classes you take to get "certifications" that mean pretty much nothing. Inspections in my market cost around $800-$1200 for a single family, so the idea would be to offer friends free inspections and ask them to write reviews, and network through broker friends. With prices like that for inspections, there's room for this to be a hobby that gives benefit to clients and I could offer a cheaper rate, but lets me feel adequately paid for my time. It seemed like an interesting, on-demand potential job where you can give people a roadmap to bringing a home back to health. I don't like the pressure of being a commissioned broker, don't need the stress of being a flipper, don't like meeting the expectations of other people as a handyman, and is something you can schedule around your free time.

[Raeon]

It seems to me the only thing you have to lose is time.  Capital expenditures would be very low.  Even if it doesn't work out you will gain a free education in how to get a small service business off the ground.  You'd learn a little more about the technical aspects and develop a new network of contacts you didn't have before.  That new network could be leveraged for different opportunities later on down the line whether or not this venture is successful.   

There's not much of a barrier to entry to keep everyone else from doing the same but like you said, it's just a part time gig for you anyway; you're not trying to live on the proceeds.

I say go for it! 

DO get an extra umbrella insurance policy to protect you from said frivolous lawsuits just in case. People are crazy and none of us are perfect. You'll miss spotting something eventually.  Also consider setting up an LLC for the same reasons. 

[Missy B]

Hey forum, has anyone launched a successful side hustle as a home inspector? I'm in a state with no formal license requirements, just reputation, insurance and word of mouth. I love looking at homes, telling people what's screwed up about them and how they'd renovate them and it seems a way to possibly get to be paid to mansplain???? I've heard some horror stories about lawsuits and homeowners blaming the inspector for everything, but think it would be a lot of fun too. What say you?

My dream would be to do one a week for fun. Day job is fun and cerebral so need something to balance it out.

I'd hire you. A lot of home inspection is a scam, with inspectors, who are nervous about damaging their relp with the realtors who refer to them, actually withholding important info to clients, or flat our lying to them so it won't queer the sale. It's actually very common. So a really honest person who doesn't care about real-estate referrals or realtor haters because its a side gig would I think do well. You might look into those infra-red detectors that help you find moisture and see how much they are too.

Note about masplaining: I see it used mostly to describe a lame attempt to explain or excuse bad behavior, or explain something without really explaining it, in a patronizing way. My sense is you will do neither.

[affordablehousing]

Thanks @Missy B ! I've used an IR camera to detect leaks before, that's a great suggestion. And thanks for the reality check about home inspectors' role usually just to be a reassurance for the buyer and a tool for the realtor to move a deal along. I have to check if a side job is a conflict of interest but I appreciate the thoughtful response, or perhaps, I appreciate the confirming response to my own attitudes about most real estate services ;)

[Michael in ABQ]

I have a cousin that does this. He's worked in construction for most of his life so he's pretty knowledgeable about building systems and materials. I was a commercial real estate appraiser so my inspections were not too in depth. Still, if I got up on the roof of a building it was usually pretty easy to tell if there were issues. Mechanical systems such as HVAC or elevators were usually over my head so there were engineers hired to do property assessments. Still, some stuff is usually apparent and if you've got more knowledge than the average person you're probably ok.

[SwordGuy]

Learn your local building codes.   People should be told if things aren't to code.   Learn your stuff.  Learn continuously.

This is a service for people -- most of whom are making the single biggest investment of their lives.   

As such, it is a sacred trust.   Treat it as such.

[affordablehousing]

Ha, in my market, nothing's to modern code. but yes worth mentioning.

[LightStache]

I've heard some horror stories about lawsuits and homeowners blaming the inspector for everything, but think it would be a lot of fun too. What say you?

How exposed are your personal assets to judgments? If you're not exposed, then you could do the work through a business entity without insurance. If you are exposed then insurance expense could  be significant -- better price out a few policy options with reputable companies.

[iris lily]

Ha, in my market, nothing's to modern code. but yes worth mentioning.

That is cool. I was going to ask how much you knew about old old houses, but sounds like you have some familiarity.

Our last five house purchases were cash deals in “as is” condition, with only the last one having an inspection. All are old houses varying from 140 years old to 80 years old. Old houses and all that comes with them do not scare us. They were all in need of gut renovations.

We got an inspection on our last purchase only because we know the inspector —he’s our age,  he has our sensibility, and we just wanted another pair of eyes on the place. He had some interesting things to say about codes in the city where we both live versus out  in the hinterlands where this last house was purchased.

DH has worked on old houses for a living and knows a lot, too.