All Forum Posts by: Supada L.

This looks pretty bad and I would recommend repairing it sooner rather than later.

@Supada L. one more thing that no else mentioned was the itemized deduction you’d make for this mid-range, but still expensive, expense. Talking w/your CPA & applying to your taxes for next year. This a capital improvement for your rental & should be considered as such on your return. Which means a nice portion coming back to you at some point.

There is no way that damage happened in a year, so if you've only owned it for a year, it would have been like that when you bought it.  You said you never toured the property before buying it.  The amount of money you spend on a house is worth a trip to see it before you close.  Get it repaired and ask them if it comes with a warranty.

@Supada L. Already spoke through direct message with the poster of this thread but figured Id mention it here for everyone else. I’ve got no personal hate toward Roofstock & I actually was singing their praises initially. However, I purchased 2 properties through them a year ago. Though the process was easy & they seemed like great deals, I’ve had nothing but issues with them. Dozens & dozens of small repairs that have really added up (Part of life I know) but that hasn’t been the case with my other purchases. Also, major foundational issue on one property which roofstock provided FIVE inspection reports for, none of which said anything about it being an issue. Anyway, be careful when buying from them. I’d hire an independent inspector & appraiser before purchasing from there because they very clearly do not do their due dillegence or care about it once they’ve sold the home.

Adding to previous replies about gravel.

gavel does not crack. If the terrain is unstable and sinks some in a few years you just top it off for significantly less money.

Get the foundation checked since you are at it, there might be a few gremlins in there.

Whoa, that driveway looks way to expired to have been missed on any inspection report upon purchasing. Good thing no one has gotten hurt falling over that thing. It’s rough to look at in pics. I like what other BP members have mentioned so far but these are my two faves.1- Complete tear down, framed & poured new 6” driveway. 2- Complete tear down & crushed blue stone gravel laid down. Although confirmation should be made about any underlying reasons this has happened. Perhaps now is a better time than any to get a quick lesson on driveway anatomy for future properties. If nothing is found irregular choose the best that fits your budget w/safety & peace of mind involved. Last thing you need is a lawsuit to shut the whole deal down. 

You're definitely going to want to repair that. It's a lawsuit waiting to happen. But I would spend the time to call around to some concrete and paving contractors to get your own quote. PM companies are notorious for not shopping around and for padding their repair quotes.

If the soil underneath is unstable, I'd break it up and drop gravel with landscaping timbers.

@Supada L. If minor expenses are making your cash flow negative, I’d consider selling. There will be more expenses like this you’ll need to cover, and it doesn’t sound like rents are sufficient to cover expenses. Unless the area is appreciating rapidly or rents are increasing rapidly, I’d offload the property.

@Supada L.

Yes, burdensome unexpected costs are part of REI, but I'm curious about the inspection reports dating from last year that you mentioned. They didn't mention that the driveway was falling apart at all? Even in the worst-case scenario, I would Google-Maps-onestar-review the hell out of any home inspector who was too blind to see and too stupid to report what condition the driveway was in.