Updated over 5 years ago on . Most recent reply
Foundation issues on prospective property
Potential SF property for $70k, rent would be $800-900. Upon reviewing paperwork, noted that the foundation is check to have issues and cracks on the wall. Should I even waste my time and money paying appraisals etc or just walk away?
Most Popular Reply
@Mo Muigai, it seems like you're a newer investor. I don't want to alarm you and scare you away from this place, but some of these guys have been investing for a while. A broken foundation wouldn't scare them away, because they have experience and contacts to handle it.
It doesn't sound like this is the case with you. Cracks in the foundation can be small-dollar fixes. They can also be HUGE, bank-account-draining repairs.
If you pursue this property, get a structural engineer to come check out the foundation for you.
