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Business paradigm shift


Jim Morrison
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There are too damned many home inspectors in this country and I'm tired of competing with you all.

I just heard on NPR that a single parking space in the Brimmer Street Garage on Beacon Hill in Boston goes for about $160K with just over $150 month in maintenance fees. It's a bargain when you think about it because that includes heat, valet parking, and a security camera.

So once the Parking Space Inspection Division of Allan Morrison Home Inspection Co. is up and running, I'll be performing $195 (sorry Dennis) pre-purchase inspections for prospective buyers -all with the same wit and sarcasm my home inspection clients have come to expect, nay demand- but at less than 1/3 the cost.

Only problem is, where will I park my truck?

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Originally posted by Jim Morrison

I just heard on NPR that a single parking space in the Brimmer Street Garage on Beacon Hill in Boston goes for about $160K with just over $150 month in maintenance fees.

Good God. Wretched excess redefined, and another chapter of "Only in America". Jeez.

Brian G.

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The striping is not DOT approved orange, the lines are not parallel and I'd recommend an asphalt specialist to evaluate what appears to be a pot hole with water infiltration. This situation is commonly referred to as a "mud puddle" and can result in personal injury and/or shoe damage. At the very least several orange cone thingies should be placed at the 'mud puddle' perimeter to ensure your safety and the safety of others.

I have my boiler plate ready....

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I can't help but think of my breif appraisal career. This would have made an interesting sideline there too.

"Listen Mr. Shilling, I've checked the comps all over this garage and I'm telling you, nothing above the 2nd floor has ever brought more than $153,900. They're gouging you at $158,000."

Brian G.

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Brian,

Your post struck a spark. I have recently been presented with a proposition to work for an appraiser doing supervised appraisals, etc. I have thought about doing this in conjunction with my home inspection business.

My question is...what are your thoughts about the appraisal business. Why did you stop doing appraisals??? Would doing home inspections and appraisals on the same property be a conflict of interest???

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A simple parking space in a garage in downtown Chicago goes for about $60,000, IF you can find one for sale. A garage in the Gold Coast area goes for about $150,000.

It's similar in any major metro market. It's totally insane. I, on occasion, am asked to inspect parking spaces when I do a condo inspection. I comply, walk down, measure it off, & respond that yes, it is a parking space. Life is grand.

I think I will steal Chads boilerplate; never know when I might need it.

There was one space, though, where I discovered major fraud; the developer was only allotting 6' for the parking space instead of the required 8'. So, I stopped being casual about parking space inspections, now go about it seriously. One never knows when something could come back to bite you in this biz.

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Originally posted by IntegrityFirst

Why did you stop doing appraisals???

When I realised I had to chose between being honest or being successful, I quit. If you think there are a lot of lying suck-up crooks in the HI business, wait till you try appraisal. If your guy is really straight, he would be 1 out of about 25. It's possible. An appraisal pays about the same per job, but you never get dirty. Of course, you'll only get a cut while you're supervised.

The banks and mortgage companys have a "gatekeeper" status over appraisers that realtors can only dream about having over HI's.

Would doing home inspections and appraisals on the same property be a conflict of interest???

Absolutely not. The guy I worked for did both, even gave a discount for getting both a once. The only draw back is that as an inspector you'll learn much more about the propertys'condition, which may affect your final value in a way not appreciated by those who only want you to approve the number on the deal.

If you have an specific questions, send me an e-mail.

Brian G.

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The striping is not DOT approved orange, the lines are not parallel and I'd recommend an asphalt specialist to evaluate what appears to be a pot hole with water infiltration. This situation is commonly referred to as a "mud puddle" and can result in personal injury and/or shoe damage. At the very least several orange cone thingies should be placed at the 'mud puddle' perimeter to ensure your safety and the safety of others.

Inspecting the curb and gutter are beyond the scope of this inspection. Conditions may change suddenly due to an accident, debris in gutter, snow, temperatures below freezing or other acts of God. The Inspector did not determine if there is any plumbing, storm drains utilities or transportation facilities located under the inspection area. Viewing was restricted by the UPS truck illegally parked in the space.

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When I first started dating my wife she lived with her parents in a high-rise condo on West 57th Street in New York. During one of my conversations with my future father-in-law he told me how much he was paying to park his car and I was shocked that he was paying more for his parking spot than I was paying for the mortgage on my condo in NJ!

Question: Do you know how to make a small fortune in New York City?

Answer: Go to New York City with a big fortune[:-bonc01].

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