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Updated about 8 years ago,
Multi Family Property with Possible Foundation Issues
Hello BP Friends,
I wanted to get your 2-cents and advice on a possible multi-family buy-and-hold deal selling for around $185k that generates around $2300/month. The numbers look ok and will cash flow, but my concern is the foundation. I don't see major issues during a quick walk through but wanted to get your opinion as it seems there are a few cracks on both sides of the house denoting signs of settling/moisture/etc. and some crumbling (pictures below)? I'm no foundation expert and hence asking here for those of you who know.
The property was built in 2004 and is in TX (where majority of the land is somewhat clay).
I'd love to get your opinion before proceeding with an offer so please let me know your thoughts and advice.
Thank you in-advance!