All Forum Posts by: David Fritch

Thank you @Derreck Wells. Sounds like you got out of that one pretty inexpensively. My concern is that we would have to rip off the sheet rock and corrections, or jack it up and rebuild the foundation or something like that.

Thank you @J Scott. That's a very good point and something that I hadn't even thought of.

Wrestling with a question here and I thought I'd throw it out to the forum.

Bought a bank owned house that is 1084 sq ft 2 BR 1.75 bath on paper. The actual house is 1396 sq ft 3 BR. The additional sq footage was added by turning a porch into a dining room and an addition, an average sized bedroom. There is no permit on file for the work but it's good work and vital to the house.

Cost to go through the permitting and engineering range from 4-6k depending on who you talk to at the county and the engineering firm. That is not taking corrections into account.

We had the idea to put a small closet in a different small 4th room (80 sf) and call it a bedroom. It's on the county's plan and has an egress window -so all requirements to be called a bedroom are met.

So we can market the house as a 3BR 1.75 BA which is where we want to be anyway. The house is great and will sell itself if we can get enough people through the door.

So this is my current leaning at the time... to skip the county and the engineering firm, rehab it, list and move on.

I'd love to hear thoughts and insights. Anyone else ever run across this issue?

Thank you Matt Andersen, Mehran Kamari, Michele Fischer, Brandon Turner, Jeff S. for commenting/welcoming me! Already have an interesting decision to make with an pre existing addition that wasn't permitted by the county. I will post on it later when I have exact numbers.

Off to get the rehab started this morning. Have a beautiful day guys!

Thanks Matt! That's cool, I've never run in a marathon but it's on the bucket list.

Hi Everyone, I'm Dave.

I live in the Tri-City area of Southeastern Washington State. A friend of mine turned me on to the BP podcasts and I've listened to several in the past week and gotten little nuggets out of each one.

I'm currently partnered 50/50 in a flip which we got with hard money at $71,500. The Rehab budget is $20,000 and the house (4BR-2BA) should sell around $139,000.

Still working on a long term plan and exit strategy but at this time my goal is to turn 3 bank owned properties in the last half of 2013 and be at a pace of 9 in 2014.

Like a lot of people I enjoy Facebook and Twitter but I'm taking a break from them during this current deal to stay more focused. I figure I can satisfy that social urge and also grow myself if I stay active here on BP. Looking forward to meeting great people, learning a ton and hopefully contributing to the conversation.