All Forum Posts by: Michelle Santhanam

Most likely a new development of high density housing.  Drive by and try to assess what is going on.  If it's all new construction with for sale signs everywhere, you have your answer. The other option is, of course, that those homeowners know something you don't.  If it's the latter run fast and don't look back!

It's not fixed until it has been dug out and waterproofed from the outside as Lynnette E. said.  Additionally you will need steel beams placed on the interior to keep the wall from shifting.  This necessitates busting out some concrete where the beams will sit, placing beams and re-pouring it, as well as tying the beams into the joists above. This is the only acceptable "fix" for this particular situation if you don't want a shifting foundation in the future.  I'm not sure why you would need a structural engineer for this, just a reliable foundation repair company (at least in my area).  This is pretty common and routine, but it will be expensive.  If it is just the walls you show in your pictures anticipate about $4-7000.  If it's whole basement it could run you upwards of $20K or more depending on your area.  

The TK provider is not worth their salt if they don't know this.  Get three separate quotes for the repair and do NOT let them talk you into this purchase until the price is either dropped by the average of the three quotes or they fix it themselves.  Now that this deficiency appears in an inspection, it is disclosable.  They will have to disclose it to any other buyer and adjust their price accordingly so it is in their best interest to deal with you.  Negotiate! 

Just as a side note, the stovetop pizza makers use baking stones on the interior to hold heat better and radiate it back out to the food.  This is how they get up to the 600-800 degree range that a wood fired oven would.  I doubt a product made of sheet metal alone would be efficient enough to get up to that temperature.  You would lose a lot of heat to the ambient air. 

I think it would be worth your while to just buy one.  Let someone else's R&D department work out all the kinks for you.  I would be reluctant to build and try to test anything inside the RV that needs to be fireproof.  One failed test could take your whole house out!

Like Pat said, the Pronto is a stovetop product but only does personal size pizzas. It will run you about $100.  The Bakerstone makes up to 11" pizzas and it's about $125.  I've been considering one of these as well because it's going to be a few years before I can build my outdoor kitchen with wood fired pizza oven :-) and even then, I'm not firing it up in the winter!  

Good luck, and let me know if you get one of these products.  I'm interested to know how they perform.

@Mandi Martinez  Just call me the design fairy ;-)  Don't worry about architectural style of the home, it really doesn't matter.  I was just trying to show that blue can work with many styles.  It sounds like you have a good handle on it and I wish you all the luck as you start this new venture.  I'm currently working on my second flip and I'm hooked!  Message me if you need any further help.

@Alvin Sylvain Haven't tried the app yet...maybe I don't want to! 

Hi Mandi.  As a designer who does staging consults for resale and has just gotten into flipping myself I would like to field this one for you because it is much more complicated than just color choice.  I disagree with your contractor that "as an investor it's not smart to go with blue".  Blanket statements should never be made about real estate, design, or life in general for that matter.  It truly depends on your market!  There have been some highly unscientific "studies" that show that blue houses sell for less, but these did not analyze individual markets, architectural style or appeal of varying shades of blue.  Additionally, architectural and decorative features of the home usually figure heavily into whether or not blue is acceptable and should be considered as well.

To illustrate take a look at these these stunners below:

I don't think anyone would disagree that these are all highly marketable properties and they are all done in various shades of blue. The first is a Coastal home, second Tudor and third Craftsman cottage.  Notice that white was chosen as a trim for each of these which sharpens the look and breaks up the color, and there is significant architectural and design detail that makes these homes interesting.

Now, look at these homes:

Not horrible, but an old metal awning and iron railings on the porch and no architectural detail make this blue house less appealing. Notice the color of the house is not the problem here.  A new portico and craftsman columns on this porch would really boost the curb appeal, as would some plantings to soften the look of the foundation. 

Again, you can see the color is not the problem with this house.  An overgrown bush, yard ornaments and odd bicolor door and trim add to the lack of appeal here.  The two siding orientations don't help either.  I would change the siding where it was hung vertically to something more eye catching like shakes or board and batten, add some beefier white trim around the window and door, paint the front door black and clear out that front yard.  Voila!  Cute blue cottage.

I think you picked a beautiful blue, but if you are feeling uneasy about it, analyze the other details of the facade to make sure the color isn't falling flat.  You don't have to spend a mint!  Often it's small changes that make the most difference.  I hope this helps and good luck.  Let me know if you need any clarification.

Thank you John and BreAnn for weighing in.  My gut was telling me I needed the coverage but I couldn't find reference to this issue in any of the other forums. 

@BreAnn Stephenson, I will make sure I'm over covered on this one!  I'm not losing my shirt at this stage in the game because I cheaped out on insurance!

@John Mocker, I went with Zurich so all they do is REI. I'm going to call my agent now and see how we can structure the coverage to best fit me. I haven't yet been in contact with a Real Estate Attorney but it's not far down on my list. Just secured a good CPA and will be addressing the other holes in my team in the next couple of weeks. I hadn't thought about liens by the subs. The more I learn the more I realize I have to learn. Thank goodness for BiggerPockets!

Hello all, this is my first time posting although I have been making great use BiggerPockets for a while. I am new to REI and closing on my second flip in just four days! Just as a little background, my first flip was with two partners, one of whom purchased and insured the property. She has since bowed out, so this time I am making all of the business decisions myself.

I have already purchased Builder's Risk insurance for the property which does not include liability insurance.  My contractor, who is my second partner, does have liability insurance, but of course this only extends to his workers and subs.  My concern is that when the house is on the market I will not be insured for accidents that occur on the premises during showings or open houses.  This issue came up because I actually may have a pre-buyer for the house (although I'm not banking on it).  She wants to come tour it with her realtor a couple days after I close. My concern is that by letting her onto the property to see it I'm opening myself to a liability issue, which got me thinking about my liability risk when I put the house on the market.    

How do the other flippers out there deal with liability while the house is on the market, or before if they are trying to pre-sell?  Should I get a liability rider on my Builder's Risk policy?

I appreciate any input the more seasoned of you can give me.