All Forum Posts by: Ryan Fox

@Trent Davis- This is on a slab foundation with a crawl space.  There are foundation cracks near the area in question, but I haven't received any reports of water intrusion.  The engineer wanted me to mudjack part of the patio near the foundation in question because it has a negative slope.

@Dennis McNeely - my concern with getting a soils study is if it shows there's something really wrong with the soil, such as expansive soil, I would have to disclose that fact when I go to sell the property.  My hope is to sell the property in 3 years without putting a whole lot into foundation repairs.

@Trent Davis- I bought the property last December and didn't notice any foundation issues at the time.  I learned the drywall was cracking in October, but I'm not local to it so I wasn't checking it regularly.  

I recently used a structural engineer to do a visual inspection of one of my single family rentals.  I haven't used this engineer enough to know if his opinions are valid, so I wanted to see if any investors find his opinion questionable.  The property has had about 2" to 2.5" of downward settlement on one side of the house, which has caused drywall cracks and uneven floors.  His opinion is that we don't need to install piers right now, but we should focus on making sure water doesn't flow towards the house from the outside.  Does this sound right?

@Alex Tang- Sorry to hear about this. I've faced some large insurance claims in the past and a public adjuster may be helpful in maximizing your insurance payout. 

@Lucas Helliker- I’ve been investing in the KC market from out of state since 2018.  Happy to connect.

@Aus Smith- Oh, wait till I get started with attorneys! 

A follow up question to this.  If I decide to sell a rental property, my understanding is that my accrued passive income or loss on the rental becomes active income or loss.  I don't qualify as a real estate professional.  To calculate the accrued income or loss, is it as simple as adding up line 21 on the Schedule E for each year that I owned the property?  

What are note buyers on Paperstac or Debexpert generally looking for when they ask you for a complete due diligence package? 

Thank you all for the responses, got it figured out.

@Karolina Powell- He has not provided me the depreciation schedules, but I will ask him for that.  That's something he would have to keep up to date each year to calculate the amount of depreciation to claim on Schedule E, correct?