All Forum Posts by: Alan F.

Hello All, I am new to BP and am virtually new to real estate investing. I look forward to growing my knowledge and portfolio so I can in turn help others do the same. My current goal is to replace my current income so I can buy my freedom from the "Rat Race."  That treadmill is huge, heavy and exhausting. I wish everyone success, peace, and happiness.

 I am new to real estate and wholesaling my question is how to estimated price per square foot, my focus areas New Jersey,Philadelphia, and Baltimore Maryland 

I am interested in a house with foundation problems. It's a 1300 s.f house built in 1973, no basement, slab foundation. The document shows that the seller paid $27000 in 2022 for 8 eccentric pier installation, 20 carbon fiber grid stitching, 160 polyurethane injection, and permit, with 25 year warranty. Then in 8/2023, another polyurethane injection for $2000, 11/2023 concrete lifting for $2000, now another bid of $7500 for repair, the note says: Install Carbon Fiber Stitches to repair wall crack. Carbon Fiber stitches are meant to stabilize only. Correction cannot be attempted.

I guess finally the seller had enough of the repair and now put the house on the market for a discounted price.

I don't mind paying for repair, but am concerned about ongoing issues. Do you see any problem with this repair pattern?

It would be a good flip, but I don't want to flip a house then the foundation problems come up in 2 years and drag me to some lawsuit. It can be nice long-term rental as well.

Quote from @Alan F.:

Quote from @Shravan Gali:

Hi Folks, Can someone please help me with my dilemma here? 

The floors in our property (which is going through rehab) are not level. We have an option to add a transition material(cheaper option) or we need to level the flooring for whole house - My GC says it would increase the budget by $3500 and my realtor said that this is a big deal when it comes to getting full ARV when we sell.

Is this a big deal? Appreciate any help I can get here to make the decision. Thank you! 

 You want that transition to not be a trip hazard or ugly. If that's underlayment on top of the subflooring, get rid of it. Its always better to have one even floor. I don't know the whole picture though...is it a retail flip? Flip for rent? Neighborhood class? Comps? Tile/wood/LVP?

BTW level is different from even ;)

Old trick when I walk a house, I set a metal ball on floor, if it rolls away, the floor isnt "level"

 Thank you, Alan. Super helpful. I will discuss with my GC. And also thanks for the metal ball trick.

I’ve had one rental for almost 2 years. It’s 2.5 hours from my home. My daughter was managing locally but she moved, now my partner and I are struggling to do it.

It's a 5 bed/3bath house that we rent by the room as medium term rental (can't do STR because of the local laws). The medium term market has been flooded in that area since we bought. We now regularly have at least one room vacant. It's losing around $1000 or more per month. It will need a new roof and new HVAC in 7-10 years.
I’m thinking I should just let it go. 
I could remove all the furniture and rent LTR but I think it will still be losing some money every month.  It’s had a lot of problems from the start, including a main Sewer line go bad (even though the inspection was good).  That on top of some destructive tenants.

I know, I should never have bought it. I don’t need a lecture or sarcasm- believe me I’ve beat myself up for this mistake enough.

I’m afraid the prices will start to drop next year and the ongoing repairs will cost me more losses over time.  
Thanks for any insight or experience!

Hi Everyone!

Gabriela here from Menifee Ca.

New in the group! 

Thank you

🙏🏼😊🏠🔨

Hello! I'm looking for people to build up rapport with that are eager to also meet new people in this niche and build awesome relationships. preferably people who are into creative finance. 

Hello! I am renovating a house I just bought. I found a skunk under the porch that has been digging into the house/foundation. We knew about the foundation but did not know the source was a skunks... On top of that, we found rats living under the bathroom/mudroom addition. This house was vacant for about nine months prior to purchase with no food source in the home.

What are your best tips and tricks for removal of both the skunk and rats? Tempted to put poison all around the areas but I do not want these animals dying in the walls and smelling horrid!