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Updated over 4 years ago, 08/01/2020
Will water issues be the death of my rental business?
Hi there, I'm a small-time real estate investor with 6 units under my belt. When it comes to water issues, I absolutely cannot catch a break. Currently, I've got:
One basement with a leak and horizontal crack forming on an outer wall
One garage with so much hydrostatic pressure that the cinderblock wall is bowing
One basement with water seeping in under the baseboards.
Recently repaired/added:
A flooded crawlspace
A french drain system
Rerouted exit plumbing using a pump to bypass backed up/broken drain pipe
All of these jobs range between $1,000 - $8,000. None of them feel like they can be put off until I get more cash reserves built up.
What answers am I looking for here? I guess I want to hear about a time when all you did was witness an outflow of money and wonder if it was going to take you under... I'd also like to here about your disastrous water and foundation issues and how you dealt with them and solved them.
If you have either of those stories, please share! I'd like to know I'm not alone.