All Forum Posts by: Mark M.

I can relate to water leaks on a foreclosure.  Had that experience with my 3rd property last summer.  It was a nice little surprise.  That's great advice on lining up the plumber first then the heater because of the weather.  That's something I am beginning to realize about renovations in winter time versus summer time.

@Daniel Mohnkern Nice save with the plumber.  I now wonder if my sewer warranty which is a separate policy covers this.  I purchased it just because it was only $50 a year and I knew they would be working on the street (which was recently upgraded w new sidewalk and resurfaced blacktop) and was a bit concerned about potential damage.  

Do you plan to replace the sewer line at any point in the future? Or even get rid of that tree?

@Bill S. 

 I should mention it is a row home so it does present some dilemma regarding foundation issue.  Fortunately it is sandwiched between other row homes.  The "three of us" (my property and the ones on either side) all have been well maintained since it was constructed in 1899.  

The block was originally 2 stories w basement.  The 3rd floor was added on some time in the 1940s.  It's a flat roof so there's not much I can do there other than reroof it and hope the neighbors stay on top of theirs. It's been a good learning experience.

I am sure the foundation is in good shape as there as been no sign of water damage in the basement and the home is basically surrounded by cement sidewalks slightly sloping away from the house for drainage reasons. Out of curiosity, I will give my engineer a call and see about that verbal recommendation. I didn't realize they could do that as an alternative to a written recommendation.  It's a cheap lesson and certainly would be worth it.

@Alan Charles Michael is right about the area around York College.  I actually own a property there on West Jackson.  The properties in this area tends to go slightly higher than the average rents in the other areas.  I'll be glad to give feedback if you need some.

Alan,

I have never heard of this state law preventing realtors from telling you which area is more desirable.  I will have to ask my agent about that.  As for West Market street, if it in West York, then yes, it is desirable.  If it's in the city, not so much.  There's enough vacancies in the area to attest to that but that depends on the type of unit and quality as well. 

Did you ever make that purchase?

Nice job.  It's nice to see a refreshing post like this.  How did you craft the timeline for this project?  Meaning did you ask your main guys, the plumber, HVAC guys, etc... how long it would take for them to do this or that before closing on the house to give you a timeline to work with?

I know that question is kind of vague but that's an area I am curious how to plan a renovation project with the team in place.  I am finally getting some good people such as a great roofer, property maintenance guy, flooring installers, drywall hangers but still looking for the rest. 

@Tony Williams 

Thank you for the link to the causes of plaster wall cracks.  I hadn't thought of searching for it.  I know from remodeling a room next to the stairwell it is all wood studs.

@Roy N. 

The plaster does not move when I press on it but you are right, it will not go away.  I agree that a demo to the stud is the ultimate solution especially with older homes.  I suspect it is a combination of old age and the effect of the weather.  That's why I am having my roofer come by to inspect the roof to ensure there's no leak.  He looked at it last year and said it was in good shape but now???  A lot can happen after a major winter like we have had this winter up here.

I have experienced the justified characteristics of plaster demolition being messy. It's no fun but there's no such thing as an easy solution when it comes to ceilings. I do have several equipment and materials to make it as painless as possible (shopvac, floor to ceiling "tarping" (not sure what they are called, the plastic things you can use to seal the areas off to mitigate dust) and blowers to blow the dusty air out of the window at the top of the stairs during the demo.

Tony, those are good prices to know for South Florida since I am planning on acquiring properties in that area in a few years.  I appreciate that info.  

@Manolo D. I did manage to get two GC and a plaster/drywall specialist to set up an appointment for next week so I will give yall an update when I get more answers. I will ask them if it is a structural issue.  The house itself is in excellent shape since it is basically basement, 2 floor brick with a third floor wood frame.  This is the only area in the entire house that is showing cracking signs.

Hey everyone,

Bear with me since this is my first post regarding this topic.  

Description

Cracks are starting to show in the stairwell on the 3rd floor of my first rental which is an old home that's getting older. It's mostly on the ceiling but it's starting to show it's way down the exterior walls.  

Note that image uploaded was edited to enhance and reduce file size.  

Options

• Demo to stud, insulate exterior walls, drywall, mud and paint
• Demo ceiling, insulate ceiling, repair wall ceiling, drywall ceiling, mud and paint
• Repair plaster and hope for the best

Currently Doing

In the meantime, I am getting a few estimates since I currently have tenants so this would have to be a fast job. They are fine with a crew coming in since the stairwell rarely see any foot traffic during normal hours.

I did my measurements, it's roughly a 450 sq ft job, with the maximum height of 17 feet from the bottom of the stairwell. Hence the reason for contracting a crew to get the job done in 5 days.

Roofer is also coming out to take a look at the ceiling and roof to see if there is any leaking issues that may be influencing these cracks. Will also give an estimate to do repair/drywall work.

Questions for You

• What do you think is the best route based on your experience in dealing with these types of plaster cracks?  Demo to stud or repair?
• What's the average cost per square footage of materials and labor have you spent in the past on this type of work? 

I also would like to take the time to thank you for making it this far and invite you to connect with me to network and bounce ideas off each other. It's a goal of mine this year to improve my networking skills and meet other REI players. I look forward to your feedback.

Best regards,

Mark

I am considering that option as well. Sufficient to say having both a LOC and a mortgage will provide me with two strategic debt instruments I can manage over the long-term.

The bank I spoke to did say that they review the LOC every three years and if unsatisfied, would have the option to convert it into a fixed rate term mortgage. I didn't think of asking about fees, though. Thanks for bringing that up Mehran.