All Forum Posts by: Ben Higginbotham

Hi Gus, 

1) Does it need painted? If you painted it in 2013 with a decent quality paint you probably don't NEED  to paint again now it might spruce the place up a bit if you do but the paint should not be failing. 

2) So your cost for this paint job is $1600 in lost rent plus the $1092 mortgage that you will have to cover out of pocket, if you take that $2692 would it cover a professional painter? 

3) Last and possibly more importantly to me is do you know if your tenant can paint? There really is more to painting than slobbing paint on walls and it can be time consuming to fix a bad paint job. 

Hello, 

Sounds to me like you need to have a contractor take a look at the foundation. Depending on where the house is it is not uncommon to have some moisture in a raised foundation, as the temperature changes you may see some condensation, that is why there are usually some vents around the base of the foundation. Sometimes these vents get closed and there is no airflow to carry away the moisture. Seems likely from the other items called out that if there is damage to the main beam that it is from moisture, my recommendation would be have a contractor look at it and maybe a termite guy and have them work up a quote. Then negotiate with the seller based off that quote to get the price adjusted lower.