All Forum Posts by: Ella Lan

that sounds like a nightmare, sorry you're going through that. Would love to stay informed on how you end up resolving it. I also have a 4plex in OSU area but haven't run into this issue

Avoid south linden and Franklinton if you're more risk adverse, they're rough still. 

If you're interested in a small multi near downtown, let me know. I have one I'm considering letting go. 

@Brandon Turner Please PM my his info! would love a good handyman!

Hi BP community, 

Rookie here looking to close on my first out of state deal. The numbers look great and it's in a solid neighborhood in Columbus Ohio area. However, there are foundation problems with the duplex. Hoping to get some advice from the community here.

Property numbers: $500/month cash flow, 10% COC. Duplex is around 100 years old

Problems:

1. -Substantial foundation bowing was observed, more than 1 inch in the basement, no cracks yet. Some rotting sills around front of house and framing members
2. -Concrete slab shows evidence of settling 
3. -Galvanized steel pipes in the house
4. -Moisture in the basement (seller stated this was fixed)
5. -Vermin activity (seller stated this was fixed)

My questions: 

• -Is it worth pursuing this deal? 
• -How much cash should I buffer for/ what discount should I ask for if I move forward?
• -Would love to get advice from anyone investing in the ohio area with experience dealing with old properties with foundation issues. Looking for cost, timeframe, recommendations. 
• - also have heard vermin activity don't typically go away, is this true? should I be concerned? 

Thank you in advance everyone for helping out. 

Investment Info:

Condo buy & hold investment in Culver City.

Purchase price: $515,000

Purchased as a primary residence a few years back and successfully turned into a rental property