Indianapolis Foundation Issues

9 Replies

What are your experiences with foundation repair. I have a lead where the seller says that there is some major foundation damage to the property. Has anyone in Indianapolis had any experience flipping a property that has foundation issues?

I would imagine that if the house isn't in a A or B area then it may not be worth pursuing?

One can drop $15k-$20k quickly when it comes to foundations here in Indianapolis!

Unless the ARV is over $75k, it's in a good retail area AND you can get it dirt cheap, I'd say pass.

Thanks @Shawn Holsapple

It stinks not being able to provide a solution for this elderly lady. Maybe I should just advise that she donate it to charity to avoid tax and insurance costs?

Any idea what's specifically wrong with it? Crawl or slab?

Cinder Block basement sinking and bowing inward is what the seller says.

Would it be possible to get an engineer and/or foundation repair contractor out there to look at it? Might be able to give you a good idea of what's wrong and how much it will cost you to fix it, then you can decide if it's worth trying to make a deal.

Yes, that would possible, but I don't think the foundation issues would be worth fixing due to the neighborhood it is in.

@Ben G. I might be able to help, shoot me a PM with your phone#. I am currently do this right now on a rehab.

Thanks and good luck.

I had to replace 30 ft of sill plate recently on a two story house built in 1914. I used American Crawl. They charged me $1000 for lifting that side of the house and replacing the plate. I first thought they'd charge $2-3k.

Free eBook from BiggerPockets!

Ultimate Beginner's Guide Book Cover

Join BiggerPockets and get The Ultimate Beginner's Guide to Real Estate Investing for FREE - read by more than 100,000 people - AND get exclusive real estate investing tips, tricks and techniques delivered straight to your inbox twice weekly!

  • Actionable advice for getting started,
  • Discover the 10 Most Lucrative Real Estate Niches,
  • Learn how to get started with or without money,
  • Explore Real-Life Strategies for Building Wealth,
  • And a LOT more.

Lock We hate spam just as much as you

Create Lasting Wealth Through Real Estate

Join the millions of people achieving financial freedom through the power of real estate investing

Start here