All Forum Posts by: Jaimie Chen

It really puzzled me. What would make house having foundations problems when it is quite new, sitting above ground, no trees near, and have sprinkler system installed. My manager told me the house only needs cosmetics and sheetrock repair to make it shines.

I am planning to find out the more details from foundation repair company. We got different opinions about it, which all have valid points. Would love to hear your opinions too. Thanks.

I found a house that is in my range, but with some problems I am not sure if I should walk away.  This brick house is less than 10 years old, sits on higher ground and with no big trees near the house, this house also has sprinkler system installed.

However, the house had foundation problem.  Foundation repaired work has been done. There are 4 inside concrete piers and unknown number of exterior piers installed around 2 and half sides of house.  Numerous cracks can be seen on corner, ceilings, drywall, and door frames. Exterior looks great, only few minor issues.  I did not pay attention on details. 

Could this be a sign bad of foundation slab or structure problems for the house that new?

You need to looking for an investor-friendly real estate agent. With my agent, we were encouraged to submit as many offers as we like for the properties we are interested and profitable. Let me know if you need his information.

Brian, Marry Christmas to you too. 

The first picture is facing north, the second picture are facing East. Together they are on the north east corner of the house. 

The lower picture actually is an angle of a bay window, there is also a vertical crack on the left, paralleled to that crack in picture. 

Should I worry the first picture since house experience the less heat problem, plus there are stress cracks on the bricks.

Hi BP Community,

We found a REO that had been rehabbed through the house: new wall, floor, appliances and had foundation work done on a corner of house. ACs and roof are still the original should still have few years to be last.

Price was right, inspection went smooth and the bank took our offer.  Just during the final walk through, we found new cracks on inside and outside of house we did not seen before. Inspection report did not document those area. 

I was 100% sure there was no crack on ceiling, no crack on the wall next to window. However, I am not sure if the outside cracks were there before. Outside cracks we found now are as wide as 1/4 inch.

This house is about 2600 sqf, two story. We only have foundation warranty but not report. The foundation was done about 5 month ago, and is on the other side of house. The ground still wet due to the rain lately. 

My question are, will new cracks appear that fast? Last time we went into the house is only a month ago. This will be an investment property. 

In the mean time, I will try to get a report from foundation company. I would love to hear inputs from you. Thanks.

@Jason Bott , thanks for point it out the gaps, and I am not sure if mine umbrella insurance covers my new rental properties. 

I will check my agent tomorrow again to get better ideas.

Hi,

I am shopping my rental property insurance and agent gave me a quote has this endorsement really confuses me: "Amendatory Endorsement water Damage" for $1000

The property is in DFW area and is covered @200k for Coverage A. Dwelling, Dwelling Extended coverage, and Dwelling Additional Extended Coverage. Shouldn't those coverage already take care water damage claim?

For 1% deductible, is $1000 for water damage sounds enough for you?

The liability only 50K, but we have umbrella insurance. Will that work?
I am new to insurances. Like to hear some inputs.

Thanks.

@Rocky V.  I just start it. Currently looking around 190 and northern corridor. 

@Frankie Woods, thank you! Ideally, I want to have 10 SFR or multi-family (2-8 unites) properties in DFW area.

I am still looking more information in multi-family knowledge. Hopefully, we all get what we plan for.

I am a stay home mom with busy schedule. But always want to be a landlord of my own properties.  I finally set up my time and start my dreams come true plan this fall with invest in real estate classes in community college.

I understand we are late in the real estate market, but it is never too late.  In my opinion, the market here is often overpriced in many hot area. We are not even stand a chance when cash buyers show up with offers. 

Good things is, we just landed our first SFR this week and already had my property manager to ready up my property and looks for tenant. I am seeking more ideas other then invest in SFRs in broader DFW area. Hope to see you around and learn more in the forums.

Happy and prosperous investing.