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Updated over 11 years ago on . Most recent reply

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27
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David Griffey
  • Sparta, KY
0
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27
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Need Help making a decision

David Griffey
  • Sparta, KY
Posted

I posted earlier about finding structure issues on a house I am trying to purchase. I will need to have a structural engineer out to make sure, but really did not see any cracks in the foundation just a few cracks in the brick and the fireplace had a gap on one side. Here is the post with the pics http://www.biggerpockets.com/forums/88/topics/100528-need-help-with-foundation-on-a-deal.

The deal is $30,000 for the property the owner won't budge and has other people interested. Repair cost without doing any foundation work might be around $45,000. This number has about $10,000 for things I did not have solid pricing on. The ARV I am thinking would be no lower than $110,000, but will say it is $100,000 if I need to sell it quick. Can someone tell me what they would do in this case? I have a lot more pictures if needed. This will be my first deal on investment property.

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