All Forum Posts by: Klemont Wright

Went and took a look at a property today that is listed as having a concrete slab foundation.

The home shows all the signs of foundation issues on the exterior, and interior.

Upon closer inspection, we were able to remove a loose brick at the very bottom near the "foundation".......we were able to see that the house is built on wood beams, supported by cinder blocks.

The outer edge (about 6 inches in width) of the "foundation" is concrete, as if they poured concrete just to support the perimeter of the home.

Question.......how would this issue be fixed with sagging beams underneath the property? There's not much room underneath, and the only thing I could see is someone would have to address the beams from inside the house (removing the flooring). Anyone else dealt with this before?

Thoughts, ideas?

Hi all.

We have a couple opportunities ti purchase a couple properties (one is a single family, the other is a duplex)

Both of them are new construction but only about halfway complete.

We have learned of the reasons why they were not finished.

My question is how do we properly gather value on these properties?

Do we value them according to “completed” comps as we normally would as part of the formula, and apply a “% complete” (ie, 50% complete) split?

Obviously, considering our construction completion cost, but does this make sense to arrive at current value for our purchase price consideration?

How have you guys approached this situation?