All Forum Posts by: Meghan Letters

Great!  Thank you, @ScottMcMillan!  I'll look him up!  

Hello BP community!  

I am looking for recommendations for contractors in Santa Rosa, CA or Sonoma County.  This is not a full rehab, but a simple build out of a studio.  I know that giving up your awesome contractor's names mean that they might not be available for your project but, I assure you, mine will be a quick one for anyone who is good.  :)    Thanks in advance!  

Such awesome advice! Thank you for everyone's input. Our offer got beat out by an all cash, quick close, no contingencies offer that was way over asking. Bummed! I wish I had the opportunity to at least learn more about what the property actually needed and possibly take on the challenge. Back to the drawing board!

Hi @Sarah Ziehr- the reports were done by the sellers almost 5 months ago so there is a lot of information we still have the right to get on our own. 

 @Account ClosedThanks for the advise!  I'm going to get all the information and then make the determination if I need to run for the hills.  

@Pat L.Good idea about the college Engineering Dept!  Thank you!

We are setting up our own inspection, house and pest, and licensed contractors to get going as soon as we get word.  On a side note- if anyone has a recommendation for an awesome contractor in Santa Rosa CA, I'm still taking names!  The plan is to get multiple professional options. 

Thanks all for the advice! We find out today if our offer is accepted so I'll update as soon as I know more!  

Yes,@JD Martin , I feel like I need to get clarification of what "no foundation" means exactly.  The home was built in 1900 so I'm not completely sure if it was damaged in some way or never there to begin with.  I get that some of the issues might only be minor but I wonder if lots of little issues combined together will mean a huge issue.  Sounds like I need to pay for a few professionals to come and poke around.  

That is good to remember, too, @Daniel Sprague, we are up against a few other offers at the moment so we have offered strong in hopes to get into the negotiations.  A few of the reports state to consult a licensed contractor for more information so they must know it is an issue!  Once the offer is excepted, we can go from there.  From a lending perspective, is this a true red flag for a lender?  We are starting with a conventional loan but have looked into a fha 203K option as well.  

I so appreciate the help!!!!  

Good points @Michael Clanton!  My thought is to move forward with getting further inspections.  I'm trying not to get too scaredy pants on this but I need to make sure I'm not over my head on the first flip!  Thank you for weighing in @Mindy Jensen!!  I appreciate the advice!!  

Hello Bigger Pockets community!  

I'm a newbie working on getting into my first flip. I'm super green so wanted to put this out to this wonderful world of experts I've been reading here at BP.  Reports just came back on this house we are offering on and some of the pest report showed issues with the foundation. Things like fungus damage of the subfloor, support posts in the crawlspace in soil contact, hairline cracks, and (scariest to me) no foundation on a portion of the structure though majority is pier and block.  Am I crazy to continue with negotiations? The property was built in 1900, has a ton of charm and in a historic neighborhood.  The numbers work for me considering a reasonable amount of work to do but the possibility of these kind of projects being a Pandora's box situation seems high.  Am I wrong? 

Any advise, experience or words of wisdom is appreciated!!  

Thank you!!