All Forum Posts by: Nick Smith

I am a new investor in the Dallas area.  I'm supposed to close on a house in 5 days, and my lender just came back saying I had to fix a bunch of cracks in the walls before I could get the loan.  I figured the cracks might be a problem, so I explained everything to the lender up front and he said that it should be fine.  I bugged him pretty regularly to make sure that everything was on track with the loan, and he waited to drop this bomb on me 5 days before closing. Needles to say, I'm not very happy.  The seller doesn't have the means to fix the walls and I obviously can't fix a property that I don't own. Does anyone have any advice on how to move forward?

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@Michael McCartney It looks like the track is messed up because of the movement of the house due to the foundation problems.

@Account Closed Thanks for the feedback.  I agree that it would be best to replace the drywall, my wallet was just hoping otherwise :).

Thanks for the help everyone.

Hey Hersh,

My name is Nick Smith.  I'm an investor in the Dallas area.  I just wanted to echo what was said above.  In my experience Zillow is basically useless for data such as taxes and mortgage payment estimate.  It's easier and will save you headaches later to do your own research.

Nice to meet you.  Good luck!

Hey all,

I recently bought a single family property that in the past had foundation problems.  Those problems have all been taken care of, but the cosmetic damage to the walls is still present.  At some places the cracks are a quarter inch thick.  There is also one wall that has separated.

In your experience, is it best to put up completely new sheetrock where the back cracks are, or to just patch everything?

Also, the foundation problems damaged the garage door to the point where it won't work.  Does anyone have experience with this?  How hard of a fix is it?

Thanks guys.  I'm happy to be a part of this.

I'm am a recently graduated, working professional looking to generate passive income through real estate investing.