Updated about 9 years ago on . Most recent reply
First Property -- Foundation Issues
I am looking to purchase my first investment property! I found a duplex for sale in a growing area; cash only, short sale. It is currently fully rented for $1,250, and the selling price is 45K. The catch is that there are foundation issues. I had my GC come with me, and he thinks we've got another 30 years or so before before these issues become catastrophic. Suggested putting in some steel beams to help slow down the bowing. Unfortunately I don't have pictures of the basement, but I am looking for some suggestions! The numbers are great; but is it worth doing this deal on a potentially risky investment? Thanks!