New Entrepreneur in the Family

[Aksel A.]

Greetings fellow members,

I first to thank the BP platform owners and community for providing the forum, tools and systems to help newcomers in the REI arena getting up to speed and moving along with their careers.

We are entrepreneurs from the Boston area with an international cosmopolitan background. The decision to open an account here and post our experience(s) was initially motivated by the upcoming major investment we are facing, and we wanted to share our experience.

As first time home buyers, the closing contract is imminently due (in the order of days). This would be our primary residence for at least a few years before moving on accordingly.

Mainly, we know this will be a challenge. We are talking about a centenarian house in a strategically privileged location (Malden, MA, near the orange line).

The main challenge we are facing has to do with the house support from the basement beams and columns.

- Slight tilt/landsliding in the front facing edge due to insufficient column support.This was evidenced by the marble test (rolling at accelerated speed toward the edges) and a few auto-closing doors. We plan to perform a solid steel column job.

- Similar to above, but regarding the kitchen porch. It is definitely not 100% horizontal, and the porch doors don't fully line with their enclosure. Not sure yet whether we should do a cement/foundation job for the porch or just re-do the porch entirely.

Our adventure here is going to allow us to go through the entire process of flipping/rehabbing our house, but... without ANY of the thorough experience that some veterans may have here. So we'll learn the hard hands-on way.

That said, the numbers do line up and the risks seem largely mitigated, so we are pretty confident this will be a good way to get into the business.

Looking forward to connect with you guys, thanks in advance and kinds regards,

Aksel