All Forum Posts by: Anthony Nguyen

So far this property has been my most reliable property with no repair or vacancy surprises (or any surprises really). My cash on cash has been approximately 8.9%. It's not the best in my portfolio but it's the most consistent as far as monthly cash flow, with a locked in rent increase next year to boot. 

Focusing on the South and Midwest. Purchased in Oklahoma! 

In the same boat as you @Dan T. Thanks for sharing! I'm currently closing on a property with REI Nation as well. So far, they've been excellent.

Thank you for the quick and helpful responses!

@Saya Lockhart I'm looking to BRRRR properties out of state, so this is outside of California. The price point of the home is under market and the numbers check out, but I'm just concerned re: the unknown that the engineering report had, even though it states that there are no foundation concerns.

@Kenneth Garrett Really help explanation! It seems to be a crack through the brick. There is also a vertical crack on the inside of the bedroom that sits atop to the brick veneer. 

Hi all,

My first post. I'm excited about the wonderful resources on this site and am eager to learn as much as possible.

I'm currently vetting a foreclosure deal and was wondering how significant this issue can be that was uncovered by an engineer report. 

The home has gone through a range of "minor foundation movement" that is not within a range "indicative of structural distress condition, or that would require foundation repair work."

However, the brick veneer in the front entrance, which runs from the ground to the roof on the two story residence, "has not been properly supported with structural repairs," with brick deflections and cracks and repairs needed due to "safety concerns related to improper veneer support." It sounds like the brick veneer will need to be substantially removed by a brick mason and a qualified contractor will be needed to address proper support for repair for a 10.5 foot span on the entry.

Question is: any idea how serious this can be and what a ballpark costs this would entail and strategy to deal with this with the seller? Thank you!