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Updated almost 8 years ago on . Most recent reply

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61
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Lucy Balyan
  • Investor
  • San Ramon, CA
15
Votes |
61
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First flip, san antonio, foundation issue- need help

Lucy Balyan
  • Investor
  • San Ramon, CA
Posted

Hi all, I have photos of my first flip, where to post them? The rehabbers found more issues with foundation as they tried to raise it up a little but now they found rotted beams (1920 abandoned home). They said some of the beams under the home & supporting pillars need to be replaced. it will cost more. The foundation engineer is coming out tomorrow to see what can be done to fix it & cost. Oh man, I wasn't expecting this. I was given an estimate of repairs for $35 to $40k for total rehab. it needs roof & everything else like hvac, bring plumbing & electrical up to code, kitchen cabinets, appliances, floors, paint, etc. Any suggestions? I have the estimated rehab details if someone wants to look at it. I do watch flip shows & I know things can come up. I am praying it's not going to cost alot more. 

Most Popular Reply

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2,871
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Rick Pozos
  • Wholesaler, Rehabber and Landlord
  • San Antonio, TX
2,501
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2,871
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Rick Pozos
  • Wholesaler, Rehabber and Landlord
  • San Antonio, TX
Replied

I just rehabbed a house in Live Oak a suburb of San Antonio. I paid for foundation work, complete new roof including rotting facia boards, some siding was replaced and some was fixed, all new flooring, gutted and redo on 1 bathroom and complete gut of kitchen with new granite counters, cabinets, all new light fixtures, all new switches and plugs, lots of moving of wires, framed up giant sliding closet doors and replaced with regular doors, a/c was just cleaned and serviced, paint inside and out, and lots of landscaping. This is a 1390sf house in a suburb. Prices are about $95ish per sf. in the area.  All of that was done for 30k. You can upload the photos here. Since yours is a smaller house, and you dont NEED central air, nobody in the area has it, you should be able to get the rehab done for WAY less than 40k.

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