All Forum Posts by: Mary Servantes

Johann, I know the floor you speak of. So the beveling looks better. I cannot figure out whether I will sell or rent out. I know the more I fix up the closer to the assumed value I can ask for. I haven't figured out if a wonky foundation is a deal-killer to sell, I have estimates to repair. So much is upgraded from the original (electrical, roof, a/c condenser). Obviously, I have ongoing sheetrock repair to do if I lease without correcting the foundation, but I think some of the foundation could correct (as I removed the trees).  

I have an inherited property that has significant slab foundation problems (no cracking). I am considering cleaning everything up and renting it out without doing the foundation. I removed the two trees that caused the foundation problems. Is there a flooring that I could remove and replace when I chose to have the foundation repaired? At this time there is no flooring in most of the house (we removed it because it was disgusting). 

Thank you Ellis! 

Light rehab would be fixing "issues" I assume, right? I am starting the course offered here on BP. If feels like this is something that my mom would want me to do. I have a sister I am now the sole responsible party for and none of us are near retirement age. The house is close and I've been a homeowner since I was 23 years old and have a business and banking background (and am currently an independent contractor). 

I would not have thought of CraigsList to research rents. 

Thank you!!

My mother just passed away and I now (as soon as probate opens formally) have an 1800+ square foot house to decide what to do with. This is a nice, quiet neighborhood in a suburb of Houston with good neighbors in the 3rd fastest growing county in the US. Most have taken great care of their homes and updated. Mom and my step-dad did not do much. I tried to do some things but they didn't want to. Step-dad died in September and then mom in February. The house was built in 1974 and has had new electrical and roof. They allowed a ginormous tree to continue to grow too close to the house and the best estimate to repair the foundation is 12K. I will need to redo the duct work and the water supply as there is galvanized steel that has started to develop pinhole leaks. As is properties in this area sell for around $95 per square foot. I don't know how to determine what current rents are. This would be my first rental. There is no mortgage owed on the property and the tax value is about 178K. I feel like I should rehab and rent, but I don't know how to start working the numbers. I would love some guidance and suggestions!