All Forum Posts by: Gavin Carrigan

Tracy, I've been with HMS National for a little over a year now and they took a little over 6 weeks to replace a broken range AFTER the service rep arrived, inspected, and determined it was beyond repair.  after calling them literally every day (not an exaggeration) for an update, i resorted to calling the service rep that came out directly and only with him on the line and three-way calling HMS with me on the line using his service professional portal did we get the answer that they claimed they completed the replacement and closed the file.  customer service was a 0 out of 10 on that one.  

Sorry i don't have a better suggestion for you on this, but if you do come across a good one, please post about it.  I see great value in them IF you can find a good one.

Gavin.

Kevin, thanks for the insight. The home inspector I use is a close personal friend how's many years that I definitely Trust. He first noticed the deflection from the outside before even stepping foot in the basement. Once we hit the basement we saw foundation wall cracking as well as standing water from a recent rain and evidence of water seepage over many years.

I did go to a very well-respected and well-known local Foundation specialists rather than an engineer simply because I knew one and I had less than 12 hours to make a decision on the property. 

All said and done, I wasn't up for the scope of the project nor did I want to get in at that deep off the bat.

You raise a good point though to do due diligence and it is a good idea to bear in mind that all of those experts are in it to make money as well.

Cheers. 

thanks Robin.

Market here is pretty hot. Hard to find properties at a good price. Generally speaking 1% cash flow is pretty normal here. Before the foundation work this would have been pretty good. I did have a Foundation Specialist, quote the work. That quote includes the foundation repair as well as additional flat work that would need to be done and parking lot replacement and striping. In addition there were several other smaller issues including structural and aging mechanical. All in all it looked good on the outside at first but after digging deeper it seems to not be such a good deal.

Question. With what I uncovered and have documented, when I back out of this deal is the seller and or listing agent required to forward on what I have found to any potential new buyer?

AVR wouldnt be much more than 175. I believe the right move is walking away.

Hey all. 

I was looking for opinions on whether or not i should back out of this potential investment. Despite the numbers shown in the report and additional 40 to 50 thousand dollars of foundation and TLC would be needed. Seller and seller's agent have no intention of dropping the price.

Looking for advice or opinions.

View report

*This link comes directly from our calculators, based on information input by the member who posted.

There's a decent amount out there, but it depends on what youre looking for and what you wanna put in up front. It does go fast though...no argument there.

Welcome! pics look awesome! Suggest digging into the forums  here on BP and keep hunting those deals. GB is tough right now. Good luck and reach out any time! 

Connecy with Cory and Carrie Reyment.  They're here on BP.

Greetings all.

Later this week i'm sitting down with a commercial lender from a regional bank.  I'm curious as to what questions any of you would ask or have asked in the past.  I have my list but wouldn't mind adding a few others to it if they seem applicable.

Little back story, I'm newer to REI and am primed to move forward. Looking to B&H small multi family units as well as self storage.

Look forward to the discussion(s) and thanks in advance.  

Also, if there's already a discussion or forum on this topic, i'll dive right in, but in my brief search, i didn't see one.

thanks again!