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Updated over 9 years ago on . Most recent reply

User Stats

22
Posts
4
Votes
Steven Booty
  • Investor
  • Bradley Beach, NJ
4
Votes |
22
Posts

Post Inspection Woes

Steven Booty
  • Investor
  • Bradley Beach, NJ
Posted

I got an inspection report back for my first property (2 unit, 1BR up/3BR down).

Here are some specs about the deal:

- At minimum rents, it would cash flow $443/mo

- COCROI = 12% 

Inspection reveals a lot of minor problems that I could fix myself (leaking water from pipes/outside, blackwater sump not covered properly, loose toilet, et al.) but I'm wondering what BP thinks about the foundation cracks that were found in the front of the house (see images below). Some of the floors are already uneven.

Here's the kicker (maybe): the house is not wood framed but rather has concrete block all the way to the attic. I'm not sure if this helps, hurts, or has no effect.

Thanks!

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