All Forum Posts by: Fredrick Proper

Make sure it isn't in one of the many historical districts in Richmond. They may expect you to restore it rather than demolish. I've seen some leave the front facade (supported w I-beams) and demo everything else. Then rebuild to the facade and have a new building with the historical face.

I'd say the odds are slim. Not knowing the age and condition of the existing basement walls and foundation, I would recommend having a structural engineer investigate and let you know what type of loading the existing foundation may be good for. An alternative to having the existing basement support the new structure, you could design the new structure around the basement and be able to utilize it as space, but not concern yourself with the structural integrity of what is currently there.

Cheers

Fred

My wife and I are beginning to understand that we need a real estate portfolio. So we're looking for some rental properties to purchase. We've been analyzing one for a week now, starting to think I have the paralysis. When we get this one under our belts, if the numbers work, I'd like to find more, similar, two bedroom condos that may need some rehab. We're looking for 2 or 3 of these before we scale upward to single family homes. I'm looking into the BRRR method for those. So if you wholesale in central Virginia, if you have something to sell, or you just want to compare notes and bounce ideas, we are curious.

Of course, if we find a flip, that would be a bonus.

Fred & Jessica