All Forum Posts by: Thuy Pham-Satrappe

@Don Gouge agreed

@Greg Dickerson did you do that through foundation repair people? What did the time and cost look like?

@Patrick Snyder great idea! Best to have it in my arsenal so buyers have the facts and aren't paralyzed by fear

@Greg Dickerson we got it for a great price because it has a history of flooding.

Have you sold one with a history of flooding before?

Anyone gone through the FEMA Retrofitting guide to flood proof a house?

Would love to hear your experience! Considering doing it for a flip with a history of flooding

Who's got experience flipping a house in a FEMA flood zone with known history of flooding?

Did it cause issues when reselling them home? Lowered sales price? Increased DOM?

Did you put it in the realtor remarks section or when did you disclose?

Did you do "extra" things during the flip to address it?

I've got what I consider a healthy cushion for repairs as well as holding costs, and we went fairly conservative with ARV.

Note: I'm not looking to be convinced to not do it, I'm interested in hearing from those who have fixed and flipped.

Thank you!

Who's got experience flipping a house in a FEMA flood zone with known history of flooding?

Did it cause issues when reselling them home? Lowered sales price? Increased DOM?

Did you put it in the realtor remarks section or when did you disclose?

Did you do "extra" things during the flip to address it?

Note: I'm not looking to be convinced to not do it, I'm interested in hearing from those who have fixed and flipped.

Thank you!

Who's got experience flipping a house in a FEMA flood zone with known history of flooding?

Did it cause issues when reselling them home? Lowered sales price? Increased DOM?

Did you put it in the realtor remarks section or when did you disclose?

Did you do "extra" things during the flip to address it?

Note: I'm not looking to be convinced to not do it, I'm interested in hearing from those who have fixed and flipped.

Thank you!

Hi Drew,

How are ya? Hope all is well with you!

I was hoping for some local Fort Wayne insight.

I just got an inspection done on a property where the inspector believes there are major foundation issues (cracks, bowing interior, ineffective DIY metal posts in basement).

When I spoke to the contractor who also looked at the property to provide a bid to fix and flip the house, he basically said foundation issues are not that big of a deal in Fort Wayne because all houses in Fort Wayne basically have some type of foundation issue because of how old the houses are.

My question to you is- do you have much experience with foundation issues creating issues when it comes to buying and/or selling the house?

I dont want to spend a bunch of money fixing up the house (and not the full issues behind the foundation), only to list it, get a buyer, and then have it fall through when the buyer gets their inspection.

Would appreciate your thoughts.

Thank you!

I just got an inspection done on a property where the inspector believes there are major foundation issues (cracks, bowing interior, ineffective DIY metal posts in basement).

When I spoke to the contractor who provided a bid to fix and flip the house, he basically said foundation issues are not that big of a deal in Ft Wayne because all houses in Ft Wayne basically have some type of foundation issue because of how old the houses are.

My question is- how big of a deal have you found it to be when it comes to buying and/or selling the house?

Aside from the ethical dilemma of not fixing a problem I know is there, I dont want to spend a bunch of money fixing up the house (and not the full issues behind the foundation), only to list it, get a buyer, and then have it fall through or reduce the sale price significantly when the buyer gets their inspection

Would appreciate your thoughts.

Thank you!