Duplex Foundation Issue

[John Van Uytven]

I have been looking at duplex. It is an older duplex, Early 1900's. The numbers overall are looking good. Until we had the inspection, then the inspector pointed out the foundation issue in the basement. I had not been down there, until after the inspection. 

That is where the pictures came from. The home inspector labeled the foundation "A-typical" and recommended a foundation expert do an inspection.

The owner discouraged me from getting the additional inspection, because all of the basements.

I insisted that we get the inspection and a bid.

The email from the foundation expert is mostly here. Total price about $16,000. The current owner is saying don't worry about the foundation. It is fine, and just leave it. 

Seem like this is very important, and the current owner is trying to unload this quickly without doing any of the work. 

[Kishore P.]

Unfortunately, you have not provided enough information for me to offer you an educated opinion.

What is your goal for the property, Is the this a FLIP Project, BRRR or Buy and Hold?

Hope you have a contingency of inspection to recover your EMD in the event you want to walk away from the deal.

I'm going on the limb here. As long as this new discovered Foundation Repair still computes with the ARV threshold of 70 % then you should be ok.

Good Luck and let us know what was the outcome.

Regards

Lastly, experts advise investors not to be emotionally attached to the property !