Byline Foundation Inspection Order Made Easy

Byline foundation inspection order

every once Mark Ferguson with invest four more I am standing outside what is turning out to be one of our worst flips we've had in a while just got news well we've had news for a while our foundation is really bad the house flooded had some bad tenants turned out we don't know as much land as we thought and we've had a host of other problems so I'm gonna go inside where it's not as windy oh we're in Colorado and this time of year it can get a little cool and windy this house I bought from the MLS had tenants in place when we bought it I'll link to the before video had hardwood floors in here a decent kitchen really wasn't a bad house but there was some buckling in the hardwood floors and when I buy my properties almost all of them I don't do an inspection on and usually we're fine but once a while it comes back to bite me and this is one of those times so the first thing that happened was we had section 8 tenants in here we gave them those to move out and they decided to leave in the middle of winter without telling us turn off the heat and power so the pipes froze and the house flooded so after that we had to replace quite a bit of a subfloor drywall and the kitchen which we're all hoping to save so we bought this house for 155 thousand and we're hoping to put like 15,000 of work into it and sell it for like 215 well that's all completely blown out of the water after a new kitchen because the cabinets were just moldy and rotten there might have been water problems before as well a lot of you asked why we didn't call the insurance company do a claim honestly we probably should have that's just my fault but we've had quite a few claims lately with hail and different things and I didn't think it was gonna be as bad as it was I thought it was just a little bit of drywall maybe some of the flooring I didn't know we have to do all the sheetrock the entire kitchen all of that so in hindsight yeah I probably should have filed an insurance claim but I did it and can't do anything about that now so after the flood happened we redid the house put it on the market got well took a little while to sell but we got an offer I think they backed out and we got another offer went through the inspection and the inspector said Oh your house only has six inches of foundation I was like what so we hired a structural engineer have him come out here look at it and he said yep you've got six inches of foundation you need 130 and so like huh that's probably not a good thing so we actually offered the buyers a $10,000 credit they seemed excited they're going to go through with it the lender was ok with it day before closing they decide oh no nevermind we don't want to go through with it we're gonna cancel so that deal fell apart had the structural engineers report and he said basically it's a shed and it needs torn down where his exact wording so he wasn't real cool about it even asked him for we haven't had much luck finding foundation companies and here's the crawlspace I figured out how to work the light on my phone you guys should be proud of me and so you look down here now see that structural engineer is full of crap because that's at least a foot of foundation but you can see right there that's where it stops it doesn't go all the way down and it's supposedly like that all the way around the house ok so we actually found a concrete company a foundation company who came out and gave us a bid they did that this last week and their bid was extremely reasonable at eighty four thousand dollars yep so uh I'm not calling that guy back but we are having some more concrete guys come out look at the property see what we can do we've had this situation before where we had to lift a house fix the foundation we've actually done it twice in the last two years and it costs us like ten or fifteen thousand to do that but unfortunately the guys who did that but not in very good terms with anymore they messed up some other jobs in fact one foundation the only fixed half of it so we're trying to find some new concrete guys hopefully we can get this resolved otherwise this might be the first time I've ever done this where I'm thinking about turning the property into a rental renting it out because it doesn't make sense to spend obviously not $80,000 on the property but um anywhere close to that let's get the foundation fixed and then sell it because we've already got thirty least thirty thousand into this probably with foundation a lot more we'll be losing a whole lot of money and I'd rather just keep it as a rental than do that the other interesting thing that happened on this house lots of interesting things happened on this house is uh turns out the lot line it's like right there going to the front of the house that entire lot over there is a separate lot that we don't own and about what ten fifteen years ago they sold off that lot and I don't even know if the people who owned it know they owned it but we didn't realize that when we bought it either so that should have been something else like should have checked out but didn't so when we're doing you know 15 to 20 flips at once sometimes a few things slip through the cracks and once in a while it comes back to bite you like it did here however in the long run not doing the inspections not always checking out excuse-me houses all the way usually works out pretty good for us I can usually see there's some issues some things going on it's really weird this house didn't have a correct foundation put on it that's kind of baffling to everybody but it's been sitting here for 60 years and done just fine and actually the guy who majored the the house he made her to see how level it was there's only off like half an inch so it's not like it's crazy on level it's just got a bad foundation now we have to disclose that to everybody that's got a bad foundation so we can't just sell it and hide that we obviously have to disclose it and that'll chase off the most buyers so we really our options are to fix it now or rent it and keep it now the other issue is if we do have to come back and lift the house right it can crack all your sheetrock mess up your cabinets mess up the flooring now I've got to come back and redo a bunch of the stuff we already did which is frustrating so just a lot of issues there and it would have been you know we had our contractors working on the house we've been you know something that may have been able to notice when you're down in the crawlspace because they were replacing floor working on stuff down there say hey you know looks like your foundation doesn't go all the way down you might want to get that checked out but we can't fix that either so the other really cool thing about this house is I think someone just tagged the inside of the garage for some reason this is dick I had holding the lock on didn't deter anybody from going in but this was a garage we had to have a little bit of work done because the tree was growing into it over there but um you might have gotten tagged twice that might be impressive because some people came in and tagged it and someone else came in and crossed out their tags and put their own tags there so maybe this is a pretty cool hangout I may have to come here at night and see what's going on but the other really cool thing and somebody just dumped a bunch of trash and junk back here this stuff wasn't here before and um yeah now it is so that's cool they did make a really nice ditch the city just redid that whole thing so that's a positive all right so that's the house have a lot of things going on the flood the tenants the foundation oh yeah there's missing a few rafters in the roof as well but the really that's not that hard to fix deal with that it's the other stuff it's a major problem so we will move it along get some more bids see what happens we'll update you on this property and I'm probably won't be making much or any money on it at all or might lose money to the 84,000 bid was just ridiculous I stopped listen to that guy quite a ways into the conversation but you will find that with contractors and different companies huge wide ranges of bids for work that needs done alright thanks for watching hope you guys enjoyed it have many more videos coming up soon the house across the street is ours as well it is 98% done we're gonna get it staged to get professional pictures taken and put it up for sale so I'll do a video on that probably this week after that's done so look forward to that lots of videos of our other flips rentals all that good stuff be sure to subscribe it was appreciate the likes the comments and all that good stuff as well and we will be back soon