All Forum Posts by: Ryan R.

This is pretty easy to fix. Work one wall, the worst wall first, then work the other. Cut out the studs as far as the rot goes up. You don't have to worry about supporting anything that is already rotten and is holding no weight. As @Account Closed said, the sawzall is your friend here. 

I had this same scenario and the brick was actually holding up the interior wall, as the plate was completely rotten and the studs were floating. This looks like what you've got here. 

Here is what I did. 

Then start putting it back together. I also put in some strapping (diagonal 2xs) above the studs I cut, to give some lateral support in the event the wall wanted to sag. You can barely see the end of one in the picture above (top right).

 Sounds like the addition may be sound, but the supporting foundation is not of adequate depth to support the load. Concrete that is to support a load will have a footer or beam that extends down into the earth up to a few feet. If the addition support structure is resting on concrete that is only a few inches thick, such as a simple 4" thick patio, sagging and cracking will occur. This is a pretty common scenario, people see concrete and think it will support a load.  

If this is the case, the structure needs to be temporarily supported, the primary supports removed, the failing concrete excavated and a proper footing poured to support the load. Costs will vary by region and by the size of the addition, but this shouldn't be more than a 2-3 day job for a competent contractor.  

@Peter Grosso agreed. My guess is as useless as the experts, but I see it stablizing somewhere between $100 and where it is today. I see it as a correction, and it's welcomed. 

I don't think being pro or plus has anything to do with it. The messaging was giving me issues on my ipad the other day. Try viewing it from a desktop or laptop. 

Maybe @Joshua Dorkin  can help. 

@Peter Grosso I'm sure he is. But nevertheless, I imagine the price will eventually find it's way to point at which shale extraction, fracking etc, are just cost prohibitive. It'll hover there and fluctuate as supply and demand dictate; as well as technical advancements that make shale more cost effective. 

I think he is right about $100 oil though. The high prices were artificial; there's just too much supply on earth, it just took a few years for the technology to extract it to develop and the supply to catch up. 

Meanwhile, I'm filling up my V8s like..

From the horse's mouth, if you can believe it. Saudi Oil

"Q: What is moving prices? Is this a supply or a demand story? Some say there's too much oil in the world, and that is pressuring prices. But others say the global economy is slow, so it's weak demand.

A: It is both. We have an oversupply. Iraq right now is producing very much. Even in Libya, where they have civil war, they are still producing. The U.S. is now producing shale oil and gas. So, there's oversupply in the market. But also demand is weak. We all know Japan is hovering around 0% growth. China said that they'll grow 6% or 7%. India's growth has been cut in half. Germany acknowledged just two months ago they will cut the growth potential from 2% to 1%. There's less demand, and there's oversupply. And both are recipes for a crash in oil. And that's what happened. It's a no-brainer."

"But I'm sure we're never going to see $100 anymore. I said a year ago, the price of oil above $100 is artificial. It's not correct." - Prince Alwaleed bin Talal

If I were a prospective tenant, I would be more concerned with the roof. It looks to be at the end of its life. As a tenant, if I want green grass I will water the yard; if I don't care about the yard, I wont. 

But I can't improve the roof by watering it. That's an expensive repair and one I wouldn't want to deal with while I was living there; especially considering if a leak were to happen or if the owner did not have sufficient funds to replace it. 

 J, my high school football coaches always talked about giving 110%. I always questioned the feasibility of such, but they were always adimant about it. Maybe they knew something we don't. I was an extrmely good math student but I could never work it out. Maybe it comes with age. 

The answer is truly unique to each investor, their goals, strategy, market, skills and scale of business. 

Your budget and expendable time will tell you how much work you will have to perform youself. 

Also, don't let anyone tell you a "succesful investor" is one who does no work themselves. A successful investor is one who meets his/her investment goals, regardless of the strategy. Define your success; don't let anyone else define it for you.