I bought this house in October of 2018, almost one year ago. This property has had its fair share of problems. It had section 8 tenants in place when I bought it. I have had decent luck with section 8, but these tenants left without telling me in the middle of the month and turned the heat off when they left. That caused the pipes to freeze and the house to flood. We were not planning to redo the entire houses but had to replace the flooring, drywall, and the kitchen!
After that we had the home remodeled but found out we did not own as much land as we thought we did. The houses lot does not go all the way to the corner although it used to include that lot. About 15 years ago, the owners sold that lot separate from the house. I have no idea why they would do this as the lot is not big enough to build on.
We got the house under contract to sell and then the buyer's inspection revealed the foundation might have problems. This was news to us as the house was pretty level and it had sold multiple times in the last 20 years with no mention of the foundation needing work.
We got a structural engineer report which said the house did not have a deep enough foundation and it neede3d significant work. We asked the engineer if he could recommend a foundation company as I had a falling out with my last guy last year and we have not needed concrete work since then. The engineer said: "this is not a house it is a shed, it needs to be torn down and I will recommend no one".
Thanks for that.....
We got one bid from a company and it came in at $84,000! I thought this was crazy and you can see what I said about it in this video from a week or two ago.
We decided to get another bid that was slightly different. After talking to the foundation guy he said the foundation was fine and it would be $5,000 to fix which included hiring an engineer! I could not believe it. I knew $84k was a robbery but I was not expecting $5,000. We have them scheduled to do the work and we will get the houses back on the market asap!
FYI, we bought it for $155,000, spent at least $30,000 on the repairs already and another $15,000 in selling, carrying, and financing costs, and will be listing it for around $220,000 again.
You can see the other videos of the house below:
You can see the before videos here:
Right after tenants moved out:
Progress video after tenants moved:
Progress video:
After the work was done:
You can see all out flips here:
You can see all our rentals here:
You can get my free book here:
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