I went to look at a property today and the floor was obviously not level in a variety of places…
I inquired with the property owner about it and he said “that the floor can be leveled using concrete??!!”
I am going to have the property inspected by a professional but is this even feasible???
I am new to real estate investing but I wasn’t born yesterday…
is this even remotely possible??? or wouldn’t the property’s foundation have to be fixed using traditional means where drilling and such takes place from reputable companies…
thoughts???
Cracked and uneven floors are results of a foudation problem. To seal the cracks or level out the floors would be putting a band aid on the problem that would come back in a few years. There are some foundation problems that can be fixed, and alot of times they are pretty pricey. It just depends on the details. Definitely have the inspector check it out and even call a foundation specialist found in the yellow pages.
Good luck!
Ok guys. Just me but if I see foundation issues I usually pass and move on. Even if there is a decent margin I just simply pass. I don’t mess with them as they can be a money eater. Well that’s what I hear anyways 
There has to be something better out there. My two cents.
Nate-WI
I agree with Nate, just pass.
Some states make you disclose that there were foudation problems with the home to the buyers and alot of times that will kill the deal. In my opinion, it’s not worth the troubles that come along with it. Just like BlueStar mentioned it’s only a bandaid and it gets pricey.
JOhn
Rich,
Don’t be scared of foundation problems, as you can make a killing on these properties. When you say the floor wasnt level in many areas, are they all on one side of the house? Does the rest of the house need to be rehabbed as well? If you’re not planning on rehabbing the rest of the house, than bringing it back up to level will create more problems than you had planned, as it will certainly create cracks on the walls adjacent to the side of the house you’re jacking up, as well as cracking windows and making them unable to open if you have to jack it more than an inch or so. I have personally done 3 houses that were off level, one was a 2700 sq foot two story duplex, so it’s possible to do it even with larger properties. That duplex needed to be raised a full 4 inches on one enter side of the house!
The trick is to use telescoping support rods beneath each floor truss. I usually place a 4x4 across the bottom of the floor trusses first, as to the rod may simply dig into old wood as you jack it up rather than raising the house. Once all the rods are in place (you may need in upwards of 20 of these) you can begin jacking. I recommend about 1/2 turn on each rod, working your way down the line, and then starting over. Within a couple hours you should have the entire house up to 4 inches off the ground. I then use either a 2x6 or 4x6 AC2 (pressure treated) to create the new sill plate between the existing concrete wall and the house itself, which is now higher, creating a gap. If you’re jacking just one corner of the house you may need to plane down the 4x6 (or 4x4, or whatever you so choose) as it’ll be at a slight angle.
Only do this if you’re confident in your abilities, as the creaking and groaning of the house will turn any man pale as you’re directly beneath 50 tons of house. Also, make sure the concrete floor is in decent shape, else the posts will tend to dig themselves into the floor as opposed to raising the house. Most importantly, buy right! No matter how simple I make it sound, it’s still quite an ordeal and will likely never be exactly perfect no matter what you do, so factor that into your purchase price.
Good luck, and don’t kill yourself!
I just bought a house with a collapsing foundation and stated that it will cost about $6k to repair and I have people putting it into the price and liking what they see. A foundation issue can be corrected just like a window problem a roof problem a anything problem it just has to be factored into the costs.
Depends alot on your location as well.
In Texas, at least in North Texas, if you avoid houses with foundation problems you are likely to avoid all houses. We have clay-rich soil conditions which swell and contract alot with water. Virtually all houses experience foundation problems here, it’s just a matter of time.
are we talking about a foundation or a slab? (sounds like the orginal post was the latter). there is a big difference. both are fixable.
hey, I LIVE in one of those “foundation repaired” houses. Just competed a rehab on another. They’re really no bigger deal than a new roof.
As DFW said, " here in dallas, if you haven’t had foundation problems yet, you will." so I use the lifetime warranty as a selling point: you never have to worry about FUTURE repairs.
Well… lifetime warrenty is kind of misleading…most novice buyers and investor think that any issues with the foundation will be covered by it. It is rare the case…you will end up having issues with different part of the house and it will NEVER covered by the warrenty…here in North Texas if you don’t keep the soil moiste enough equely you will have cryplled house in few years…most houses are Slab. It is easy to fix…but life time warrenty will only impress very novice buyer …my 2 cents
DFW
Since most people do not purchase more than 3-5 houses in their entire lifetime most buyers are novice buyers. Also, the majority of the houses that people tend to fix and flip are lower tier price ranges which typically are first or second time buyers. This means that in virtually all cases the buyers are very novice. That being said, it depends on the lifetime warranty and what it states. Some foundation companies stand by their warranties and some do not. I never hesitate to mention a lifetime warranty on foundation repairs for a house.