All Forum Posts by: Thomas Shields

I used to actually search out distressed properties for that part of my business (as opposed to the custom home part)

I personally loved bad foundations (unless there was serious displacement on a slab), but horizontal cracks or an off-level raised foundation, no problem.

My no-no's were 1) cast-iron sewer lines (depending on the distance and terrain), 2) bad septic tank and fields (depending on same) 3) Structural issues (if severe enough)..

But having said this, if the budget was large enough, and it still pencils out as a money-maker, then you just have to decide if you want the hassle.

Foundation issues are a deal breaker for me. I believe that everything else can be fixed in a house. You have add the cost of repairs into your home purchase. I know investors who buys foreclosures and they estimate the cost of repairs in their bids.

I think it depends on the person.  For me, anything structural for sure.  electrical, plumbing or HVAC would depend on the type of problem and the amount of effort and $ needed to fix it.