Updated almost 10 years ago on . Most recent reply
Foundation Repair on a rental
I have just put a very cheap older duplex under contract. This house is in Texas, where foundation shifting is very common, in my opinion. For a strictly buy/hold play, where I do not foresee much appreciation in the next few years (smaller town, not much industry), do I repair the foundation or not? I am not concerned about adding resale value at this time.
I don't have any real specific details because I have not gotten bids yet, but I can tell you that spending, say 5k, on a modestly priced foundation repair would be about about 14% of my total purchase price. So spending 10k I think would be out of the question.
But the question really is this-will a leveled foundation add more in rent or not?