馃攳
When to Pass on a Home with Foundation issues | Flipping Houses | In The Life 129 - YouTube
Channel: Nick Ruiz - Alpha Uncut
[0]
- I've been doing this long enough
[2]
to get a gut feeling on a property.
[3]
Literally, like a feeling
[5]
and you know, it's hard to
explain and I know that's hard
[7]
to convey that teaching to you.
[9]
But, the bottom line is I
just don't like that house.
[11]
There was a lot wrong with it.
[12]
There is something funny
with the structure.
[15]
The foundation was completely compromised.
[17]
(upbeat music)
[39]
So, basement, do you
want to come down with me
[41]
and show me what's going on?
[41]
- Yeah, I'll show you.
- Okay.
[50]
Okay.
[52]
- [Woman Off Screen] So, you see it?
[53]
- I do.
[54]
Now, obviously this happens when it rains.
[56]
- [Woman Off Screen] Yes.
[57]
- Okay, so, the foundation is compromised.
[62]
You know that, obviously.
- I know that.
[63]
- I mean, in that it looks like
[65]
that is an extremely severe move.
[68]
You see that--
[68]
- [Woman Off Screen] That's
the one that they were--
[69]
- Right here?
[70]
No, I'm talking to you.
[71]
- [Woman Off Screen] Oh? 'cause I know.
[73]
You don't have to say anything.
[74]
I already know.
- Yup, you already know?
[75]
- Yes.
- And you got a quote
[77]
for 16 grand to repair the basement?
[78]
- [Woman Off Screen] Yes.
[79]
- Which is beaming the
walls, excavating that wall,
[82]
- That wall--
[83]
- and then drain tiling the floor?
[84]
- Yep, doing something.
- Yeah.
[86]
That's exactly what I would
do if I bought this house.
[88]
- [Woman Off Screen] Okay
[91]
- Yeah, where is the majority of the,
[95]
like, when it rains hard
is that the extent of it?
[98]
Or does it puddle further?
[100]
- It was here.
- Okay.
[102]
- [Woman Off Screen] It was right here.
[103]
- [Nick] Yeah.
[105]
- [Woman Off Screen] Nothing.
[107]
It used to be here, like that.
[110]
Right here, now it's there.
[111]
- Got it, okay.
[112]
- [Woman Off Screen] Bottom line,
[113]
I don't know what happened,
[114]
but it use to be right here.
[115]
- But yeah, then there's
sheering over there.
[118]
Yeah so okay.
[120]
- The water's just sapping right now.
[121]
- I understand, okay.
[123]
Did I see the furnace, okay.
[125]
I hate these basement
situations for the simple fact
[130]
that it devastates your value.
[135]
I just don't like making
these kind of offers
[137]
'cause they're just
usually really low offers.
[140]
But let's go upstairs and see.
[141]
When do you wanna move?
[144]
What's ideal for you?
[145]
- I feel really is out
of here by November 1st.
[148]
I don't wanna be here in November.
[150]
- [Nick] But if it can be
sooner, you would want that too,
[153]
is that what you're saying or?
[155]
'cause I guess it's hard for me
[156]
to make a deal in November right now.
[158]
All I gotta see is upstairs.
[159]
- [Woman Off Screen] Oh no,
I don't want anything to do
[160]
with this place.
[162]
- Got it.
- So if you don't buy it,
[162]
somebody else is.
[163]
- [Nick] Yeah, so you gotta get out?
[165]
- I'm out.
- Okay.
[166]
- [Woman Off Screen] I wanna yeah.
[167]
But I don't wanna hold on to it.
[168]
I don't wanna--
[169]
- [Nick] Yeah, understood.
[171]
Is there any roof damage up here?
[174]
- [Woman Off Screen] Yes.
- Okay.
[176]
What's in there, a closet?
[177]
- Attic.
- Attic, okay.
[179]
Can I take a peak in there?
[180]
- [Woman Off Screen] Yes.
[181]
It goes up.
[183]
- [Nick] Is it like across something or?
[186]
Where's the light?
[190]
Okay.
[192]
(upbeat music)
[196]
and that's up here?
[197]
- [Woman Off Screen] Yeah.
[198]
- And this is a half bath?
[201]
Okay.
[203]
And then what's, is that just,
oh that's a window, okay.
[206]
Yeah the floor is just
all wobbly and weird here.
[210]
You got offered how much before you said?
[213]
- [Woman Off Screen] I never tried it.
[214]
- Oh you never tried to
sell it, okay, all right.
[217]
Well, it needs a lot of work
and the basement is what it is.
[221]
You know what I mean?
[223]
What price do you need tomorrow?
[224]
Bottom line.
[227]
And the reason I ask is I just,
[229]
I don't wanna waste your time you know.
[231]
So you tell me what your bottom line is.
[234]
I mean, well let me ask you this.
[238]
How much do you think this house is--
[239]
let's go this way with it.
[240]
And I never really figured
out what was happening here.
[244]
- [Woman Off Screen] With the floor?
[245]
- Yeah.
- Yeah, I dunno.
[246]
- That must be from your install.
[248]
There must have been some
issues with the install.
[251]
'cause I didn't see any structural issues.
[253]
Lemme just check the
basement one more time,
[254]
but I don't remember, I
gotta remember that spot.
[257]
I just wanna verify that
it's not structural.
[260]
How much do you think this house is worth
[261]
when it's fixed up?
[263]
And you can look around and see that.
[265]
Yeah you can look around and see all that.
[267]
- Oh if everything was fixed
I would probably try to put
[271]
70 on here.
[272]
- You think that's realistic?
[274]
I was gonna think in the 55, 60.
[276]
And that's based on neighborhood sales,
[278]
not my opinion.
[279]
You can look around at what sells.
[280]
- [Woman Off Screen] I'm is just
[281]
a person who wants money for my house.
[283]
- Right, exactly, so if I get 55.
[287]
And then, I mean the
basement for about 13,
[289]
I can do it a little cheaper.
[290]
And then all the dry wall remodeling.
[293]
Bathroom remodeling, flooring.
[294]
How much you think all that's gonna cost?
[296]
- I'm not a contractor so, I
want you to give me an offer.
[299]
And if I like it, I'll take
it, if I won't, I won't.
[302]
I live here everyday, so
that's valuable to me.
[306]
I am gonna, I'm leaving.
[309]
- I got you.
[310]
- If you don't, I'm not saying,
[311]
you know somebody's buying it.
[313]
- Right, yeah I'm probably
gonna be around the 10 mark.
[316]
- Okay then, all right.
[317]
- And I dunno if I can
come up a little bit,
[319]
I might be able to but the
basement's will be too severe.
[324]
That's the issue.
- All right.
[325]
- If the basement wasn't
damaged, we could be all the way
[328]
in to like a 30 something.
[330]
- Okay.
[331]
- Okay.
- All right.
[331]
- So that's probably
lower than you expect.
[336]
- It is but that's okay.
[337]
- But I encourage you
to talk to other people.
[339]
'cause I think you're gonna get a lot
[340]
of the same information unfortunately.
[341]
- Okay.
[342]
- So that's just gonna be
unfortunately what it is,
[345]
'cause of the basement.
[346]
So I don't want that
house, I hate that house.
[350]
I've been doing this long
enough to get a gut feeling
[353]
on a property, literally like a feeling.
[355]
And it's hard to explain
and I know that's hard to
[357]
convey that teaching to you.
[359]
But the bottom line is I
just don't like that house.
[361]
There's a lot wrong with it.
[363]
There's something funny
with the structure.
[365]
The foundation was completely compromised.
[367]
It's in a really rough area.
[369]
Which is fine.
[371]
Just have to rough areas are work less.
[373]
Worth less.
[375]
But that house is almost worthless
[376]
because the basement repairs could be more
[378]
than we even talked about on
that video that you just saw.
[382]
So yeah, like no, the answer's no.
[387]
I don't like it, I don't
think there'd be even enough
[391]
spread to wholesale it to someone.
[393]
So I'm just not a fan of that
property, so that's okay.
[396]
As you guys know, I
qualify them really well
[400]
before I go look at them.
[402]
This one was pretty qualified.
[403]
The problem is it was a wildcard
[404]
on what I was gonna find in the basement.
[406]
I thought I was gonna have
to correct maybe one wall
[408]
or something but turns out
[409]
the whole foundation is compromised
[411]
and I'm not, I'll do that
job easy, no problem.
[415]
It's just the math
doesn't work for that job.
[417]
So now we gonna go to
one of my finished houses
[419]
that's under contract to be sold.
[421]
Meaning I bought it,
rehabbed it, and sold it.
[425]
And you've seen it on prior videos.
[426]
So now you get to see
the finished product.
[428]
You gonna love it.
[429]
The before and after on
this property's amazing.
[433]
And yeah.
[435]
(upbeat music)
[442]
yeah, and by the way, you
just doing your glance on this
[446]
on her financials like, this
is a solid borrower right?
[452]
Okay.
[457]
Okay.
[461]
Okay, yeah you don't see
any red flags or issues,
[464]
bottom line?
[466]
Okay.
[468]
Okay.
[471]
All right.
[472]
(upbeat music)
[480]
so you guys have seen the before.
[482]
If you haven't seen the before,
[483]
you should check them out, they're killer.
[485]
All new windows, same hardwood floors.
[487]
It's all staged and beautiful.
[489]
So we got the living room here.
[492]
Going into...
[496]
Let's go here first.
[497]
So then we got kind of the
master bedroom of this.
[500]
This a three bedroom ranch.
[501]
I think it's like 12 000 square feet.
[503]
(upbeat music)
Most Recent Videos:
You can go back to the homepage right here: Homepage