All Forum Posts by: Satya Patil

I am trying to buy a single family home Elk Grove. While the market right now seems hyperinflated, Elk Grove does have a number of good things going that may make it a even more desirable rental market. And also offer fair bit of appreciation just like the San Francisco bay area.

What does everyone think about area around Laguna blvd and Franklin blvd intersection?  And also about Elk Grove in general. 

@Tim Kunz

This is what I think. Underpinning may hold one side of the house but that will also mean that the rest of the house is free to sink. This is especially true if the underlying problem is not resolved. It seems to me that to fix the root cause and then fix the damage that is already there may be a better strategy.

@Tim Kunz

Thanks! The house was built in 2001. So, its not that old. I noticed the crack about a year back (before the recent rain). And got the floor measured recently. Although there are no other signs like sticky doors, etc. My guess is that drought conditions for last 3-4 yrs have caused the soil to move and that's why the foundation seems to have moved. Its a 1592 sq ft two story home that makes me think that the 1.5 inch drop may be significant.

I agree with you that the price seems fair. After researching this topic a little bit more my main concern now is that underpinning with piers, etc may not necessarily fix the problem completely. I am now considering getting a soil evaluation done. So that I can try to fix the problem and then consider underpinning if the problem worsens. What do you think?

I called up a few geo-tech companies for soil evaluation but many of them don't do individual residential homes anymore. Do you know a few that do?

@Al Williamson

Thank you for your reply! I would be happy to discuss the situation with you. Please let me know how can I reach you. 

Hi All,

One of my SFHs in Sacramento area is showing possible signs of sinking. Contractor's measurement around two adjacent walls of the kitchen were about 1.5 inches off and the rest of the house was about 0.5 inches. So my first question is, whether this is serious enough? The house does have a crack that is 2-3 mm at its widest part and runs from living room in to the kitchen. 

Secondly, the contractor quoted $2000 per steel pier. Total cost for piers would be $20K for 8 piers. Does this sounds reasonable? 

And finally, I would love to take recommendations from Sacramento area investors for structural engineers and contractors for this type of work.

Thanks,

Satya 

@Lee S. @Joyce Tavares @Thomas S.

Thanks you all for you suggestions. This is really helpful!

@Lois Ginter

Thanks! I don't have a reserve right now but this is something I could definitely do very easily. Didn't think about selling one for the repairs on other but definitely worth considering.

Hi All,

I would love to hear you experiences on funding major repairs on your rental properties. Two ways that I know are- Cash out refinance, line of equity. Are these the best or is there something out there?

I only own SFHs and figure they will need a major repair/improvement sooner or later.

Thanks in advance!

Satya

@Jim Shepard

Thanks Jim. Both your points are well taken. Appreciate it!

@Michael Hajduk 

I hope so too.  Thanks!

Assuming that I am eventually able to rent the property, I am not sure how I should charge them the re-renting fees? May be just as my property manager did last time? According the lease they are liable for all the costs associated with re-renting.

Thanks,

Sachin