All Forum Posts by: Bob Mason

I usually charge $395 for an inspection and report. It would be more for the repair design. Hope this helps. 

You may need to open up a section of floor to look underneath at the foundation. Some buildings in DC area that I've looked have no foundation. 

@Greg Miller Welcome to BP!

Ludmila,

This is a serious problem. Get a masonry contractor, who specializes in chimneys, to price out replacing the chimney from the roofline up to the top. 

Welcome Tony! Setting goals is #1 priority when starting out.

That looks like a former homeowner took out some of the chords of the roof trusses to make room for the attic ladder opening and/or a platform for storage. I did an inspection on a house last year with that same type of mess. For the record, it is not safe, nor is it code-compliant. Get a good structural engineer to look at it. You'll need recommendations to repair it. If you haven't bought the house yet, get the seller to pay for the repairs. If you own it, then get an engineer to give you repair recommendations. Fortunately, the repairs are usually not too time-consuming or difficult. Usually it involves sistering 2x4's and/or plywood to connection points in the roof trusses. But getting access to perform the repairs is the hardest part.

Hard to tell without more info. Looks like there's a lot of moisture in there. Find where it's coming from and stop that first. Since its your rental, I'd repoint the cracks, and the monitor them for future movement. Is there anything outside that looks like subsidence? Bottom line- you can fix a lot of stuff since u bought it for $17k and still cash flow well. 

Hi Gabriel,

Pls send me a PM to discuss. 

This assumes that you have syndicated a deal on a value-add multi-family deal with one or more investors for an initial hold term of 4 or 5 years to cashout or refinancing. This also assumes that you've gotten enough appreciation of the property that there's 30% more equity from initial purchase.

Do you set up the initial documents at purchase and investor syndication for the investors to get back their principal and additional returns, and then they are out of the deal? Or do you get them back most of their principal and your investors stays in the deal after the refinancing of the property?

Is this all set up in your LLC documents at the beginning?

Thanks in advance for your thoughts!

That's awesome! Great job. Now he has a skill he can use for the rest of his life .