Rehabbers, I need your input. - Posted by Kent TN

Real Estate Investing
1

Posted by Laure on July 02, 2000 at 14:30:02:

Make an offer subject to a roofing inspection. Get a price from a professional, then you can back out if you need to. Sagging can be expensive. If there is a lot of damage inside, you can count on needing at least some new sheeting, I’ve never had to replace rafters…ever. Also, I’ve found a lot of carpenter ants in the leaking roofs I’ve replaced. They go where there is moisture, and unlike termites, start at the top and work down. Good luck !

Laure :slight_smile:

2

Rehabbers, I need your input. - Posted by Kent TN

Posted by Kent TN on July 02, 2000 at 14:06:25:

Yesterday looked at a 1300 square foot ranch house that I may rehab. The biggest repair will be the roof. In several areas the roof is sagging. It looks like it has possibly three layers of old shingles which were never removed before new ones were put on. I think the extra weight is causing the sagging. There is also water damage in a few places inside. Is this a deal breaker? I know about what a new roof costs in my area, but what about the plywood and trusses underneath. Access to the atic was very difficult and I wasn’t able to see much up there at all. I would appreciate any response if any of you have delt with this before.

3

This Could Be A Deal Killer, However… - Posted by Jack-NY

Posted by Jack-NY on July 03, 2000 at 24:29:19:

Here is a list of things that are considered “deal killers”

  • Severe foundation settling, or poured slab failure.
  • Extensive roof truss damage.
  • Hillside instability, landsliding.
  • Obsolete floor plan requiring a room addition.
  • Illegal room addition or garage conversions, zonong violations.
  • Severe drainage problems.
  • Property line encroachments, minor issues are correctable.
  • Extensive lead abatement or radon mitigation required.
  • Contaminated water wells.

All of the above are correctable, givin sufficient time and money. My advise is to just walk away if any of these problems exist. These are deal killers that you should look for and, without exception, avoid.

There are plenty of houses out there to make money with, you don’t need the headaches. Make your offer “subject to inspection and approval thereof” then bring in a structural engineer who has the expertise to evaluate the problem.

It does cost money to have this done, however this cost can be split or otherwise negotiated with the sellers.

You may very well be talking about a $5,000 plus roof.

Good Luck…

Jack-NY