All Forum Posts by: William Coet

Forget about "design loads" in a misuse situation such as this.  No residential framing is designed for 1,000s of pounds of force being applied through the jumping up and down of dozens of people.  In fact, applying 1,000s of pounds repeatedly by force is a demolition technique used to effectively demolish structures.

This is not normal wear and tear.  There is a nationwide issue in student housing regarding the jumping that causes floors to collapse.  Many cases are documented on youtube, including a recent one after the Clemson/Alabama game.  People nearly died in a Texas incident with living space below the party, and that building was new construction, built to current standards (again, residential space is not designed for this type of misuse).

The good news- these repairs are cheaper than you might expect.  You have an open basement with good headroom.  You can accomplish a lot of structural support with lumber that isn't very expensive,  labor costs should be low.  For two guys this should be a one day repair (max two if you allow for time purchasing material)  You can use a jack(s) to temporarily support things while placing permanent wooden posts and sister new joists to the old ones.

Finally, considering this is becoming more common, lease wording should address the specific act of multiple people jumping up and down on a residential floor.  

Hello,

Looking for ideas and input on selecting investment locations based on future expansion of roads, municipal utilities, zoning changes, etc.  It seems there may be a discount opportunity, but holding costs could be a risk too.  

On a small scale, I've seen people who purchased single family homes who had knowledge of an upcoming zoning change allowing them to be multifamily properties.

Thanks in Advance

Sounds like they've seen this coming and were ready for you.   Ask yourself if they will be doing any favors for you anytime soon? 

 If they owned the house, would they let you stay at a discount?

As the title states; How can the credibility and reliability of a syndicator be judged?  

What assurances does an investor have that the general partner won't "take the money and run"?

Trying to avoid a Madoff ponzi scheme disaster.

Thanks in advance

Is the general partner the only one who typcially can borrow against the property?  Would rather not have the cash liquidity tied up..

I'm considering becoming a limited partner in a syndication, but want to be able to borrow against the equity in the property.  Is this possible?  Is it difficult?

Thanks!

Get some estimates on rewiring. If the galvanized piping is working, you don't need to change it immediately.  Although if there is other work going on at the house, you might consider changing it to avoid making another mess down the road, because in my experience old galvanized pipe eventually fills in with hardened substance and clogs.

Would be interesting to see the cost comparison between conventional "stick framing" and container builds.

Container builds still require framing for insulation, wiring, drywall, cutting out for window/door openings. 

Perhaps the savings is in mass production.

"Did I hear someone knocking on the front door"?

Well then...