Real Estate Agent · Belmar, NJ · Member since 2017 · 370 posts · 200 votes
Hi All,
I have my first investment property (live in 203k) officially under contract and out of attorney review and found the structural items below in inspection (See attached pictures directly from report):
Unit 1 (~750 sq. ft)
(1) Cracked Foundation Wall in two areas
(2) Piers that have placed in dirt allowing the home to shift and now have wooden shims/other objects to sure up the floor
(3) Split floor joist
Unit 2 (~600 sq. ft)
(1) Support posts were set directly in dirt
(2) Objects were set in between piers to sure up floor
This is a multifamily home (two single family homes on one lot) with the home inspector suggesting that the price to fix could be well over $30k. Can anyone provide some idea of what this would cost from their experience? I know that I need to get estimates but I want to give the seller an idea of what we could expect when heading back to the table before proceeding with a ~$750 estimate from a structural engineer.
Johnson City, TN · Member since 2017 · 209 posts · 367 votes
7y
How old is this house? These things aren't unusual in old houses. Are there problems like wavy floors and soft spots or doorways that are out of square? A few bags of concrete and mortar and blocks can easily replace these cobbled up supports. Home inspectors often overstate problems and call for licensed tradesmen and engineers to further evaluate to cover their ***.
Investor · Waterford, WI · Member since 2016 · 89 posts · 30 votes
7y
It looks like it could easily be 30k. It looks like you would need to rebuild the foundation and the floor joist system. You would need to evict the tenants to complete the work. For the right price I might move on it but more than likely I would walk for this one.
Johnson City, TN · Member since 2017 · 209 posts · 367 votes
7y
How old is this house? These things aren't unusual in old houses. Are there problems like wavy floors and soft spots or doorways that are out of square? A few bags of concrete and mortar and blocks can easily replace these cobbled up supports. Home inspectors often overstate problems and call for licensed tradesmen and engineers to further evaluate to cover their ***.
It looks like it could easily be 30k. It looks like you would need to rebuild the foundation and the floor joist system. You would need to evict the tenants to complete the work. For the right price I might move on it but more than likely I would walk for this one.
Hi Ray,
Thanks for your feedback. It will be empty at closing so I'm more just concerned with the cost. I have sent the inspection over the 203k consultant with a request for estimate.
How old is this house? These things aren't unusual in old houses. Are there problems like wavy floors and soft spots or doorways that are out of square? A few bags of concrete and mortar and blocks can easily replace these cobbled up supports. Home inspectors often overstate problems and call for licensed tradesmen and engineers to further evaluate to cover their ***.
Hi Don,
Pretty old - it was built pre 1960 for sure but i think quite a bit older than that. The floors are sunk / uneven in certain sections but don't feel wobbly or "bouncy" like other properties in the area that I have walked through. I was thinking about approaching the seller with a $20k ask citing this item but don't want to scare away if unnecessary.
Rockland, MA · Member since 2017 · 20 posts · 10 votes
7y
@Cody Z. Im not sure of your exact situation, but it sounds similar to mine. I bought my primary residence in riugh shape a year ago. Same deal. Cracked/sinking back corner of foundation and rotted llally columns that caused cracked joist and wavy floors.
The seller agreed to let me repair this before my fha appraisal. I have a close friend who took out the permit to do the work. We jacked up the center beam slightly, and put in temps so we could remove the rotted columns. Then we dug into the foundation to reveal the footers. Called for an inspection of tue footers (that sit under the foundation and support the load beam) then we added new collumns and set the beam back down.
As for the foundation. I was able to remove/cut the bolts that hold the sill to the foundation. I then jacked up the corner of the house to level. And added shimming to the sill before we set it back down on the foundation where it was now level. We then added drainage and graded the yard so that water could not get under the foundation anymore.
I would say that depending on what team you put together its not 30k. However i dont know your exact situation. Do as much research regarding your specific needs. Many contractors will probably tell you that its worse than it is because its not hard to have someone throw money at them when you tell them their house is going to break in half. Do your homework and weed out the shotty contractors. Best of luck!
Rental Property Investor · Erie, PA · Member since 2018 · 6k+ posts · 9k+ votes
7y
Oh geez that is not that huge of an expense if you get the right helpers and not afraid to get your hands dirty . I have a house with some issues similar to yours . Depends how fancy and good you want to get it for a finished product . My duplex was built in 76 ... 1876 so it’s a bit older than yours !
Oh geez that is not that huge of an expense if you get the right helpers and not afraid to get your hands dirty . I have a house with some issues similar to yours . Depends how fancy and good you want to get it for a finished product . My duplex was built in 76 ... 1876 so it’s a bit older than yours !
Hi Dennis,
Thanks for speaking to your experience! I don't know about getting under the house myself but I have a call with a structural engineer Thursday to discuss. I believe it will not be as bad as the inspector suggested.
@Cody Z. Im not sure of your exact situation, but it sounds similar to mine. I bought my primary residence in riugh shape a year ago. Same deal. Cracked/sinking back corner of foundation and rotted llally columns that caused cracked joist and wavy floors.
The seller agreed to let me repair this before my fha appraisal. I have a close friend who took out the permit to do the work. We jacked up the center beam slightly, and put in temps so we could remove the rotted columns. Then we dug into the foundation to reveal the footers. Called for an inspection of tue footers (that sit under the foundation and support the load beam) then we added new collumns and set the beam back down.
As for the foundation. I was able to remove/cut the bolts that hold the sill to the foundation. I then jacked up the corner of the house to level. And added shimming to the sill before we set it back down on the foundation where it was now level. We then added drainage and graded the yard so that water could not get under the foundation anymore.
I would say that depending on what team you put together its not 30k. However i dont know your exact situation. Do as much research regarding your specific needs. Many contractors will probably tell you that its worse than it is because its not hard to have someone throw money at them when you tell them their house is going to break in half. Do your homework and weed out the shotty contractors. Best of luck!
Hi Adam,
Thanks for your thoughts. I agree - I have a call with an engineer Thursday and I am not expecting that level of work. Did you do the work yourself?
Investor · Verona, NJ · Member since 2014 · 1k+ posts · 832 votes
7y
The toughest part is getting in there, getting material in there and working. it is a labor intensive job, which would be your main cost. 1st thing is to clear all the debris that the inspector said was in there then you would have to temporary support the floor joists as you replace the beams that are cracked/ broken. others you can make a 2'x2'x1' deep footing right next to the block, once that hardens pot a small post or cement in a new block to support the beam, then remove the loose blocks. 30K seems like a lot, but it could run you between 10-20K, the hardest part would be finding the contractor that would want to do the work, i have worked in bad, tight spots and know how it could be, i wouldn't even take on a job like that.
The toughest part is getting in there, getting material in there and working. it is a labor intensive job, which would be your main cost. 1st thing is to clear all the debris that the inspector said was in there then you would have to temporary support the floor joists as you replace the beams that are cracked/ broken. others you can make a 2'x2'x1' deep footing right next to the block, once that hardens pot a small post or cement in a new block to support the beam, then remove the loose blocks. 30K seems like a lot, but it could run you between 10-20K, the hardest part would be finding the contractor that would want to do the work, i have worked in bad, tight spots and know how it could be, i wouldn't even take on a job like that.
Thanks for your input Patrick. Hopefully, I can find someone willing to do the work. I'll keep everyone updated after this call.