Why Sunken Floors Are Costly Traps For Flippers скачать в хорошем качестве

Why Sunken Floors Are Costly Traps For Flippers

See this sunken floor? Looks like a minor cosmetic thing, doesn't it? Just a little dip. Well, in this $55,000 house, this 'little dip' was hiding a secret that torched a potential $65,000 profit. This wasn't some charming quirk of an old house; it was a warning sign of a catastrophic failure that ended up costing us over $40,000 to fix. Never, ever underestimate a sloping floor. Stick around, and I'll show you exactly why. Welcome to Poppa Homes https://www.colemanmg.com/30k/ Invest With Poppa https://www.colemanmg.com/30k/Portfolio Poppa I Need a House https://www.colemanmg.com/30k/poppa-i... Poppa’s Buy Houses https://www.colemanmg.com/30k/shrevep... Section 1: The "Good Deal" Setup We thought we'd found the perfect flip. It was listed for just $55,000, and the comps in the neighborhood were sitting pretty at over $120,000. Yeah, we knew it needed work, but the numbers just made sense. We did our walkthrough, planned the budget—new kitchen, new baths, fresh paint, flooring... we set aside a healthy $20,000 for the reno. Even with holding costs, we were looking at a killer profit. And yeah, during that first walkthrough, we absolutely noticed the sunken area in the living room. It was a pretty obvious slope, dropping about an inch over ten feet. But you know how it is—in the heat of the moment, you downplay things. We just chalked it up to "typical settling" in an older home. Our brilliant plan? Pour some self-leveling compound, lay down the new flooring, and call it a day. A quick, easy fix. We could not have been more wrong. Section 2: The Discovery & Deepening Problem That whole "easy-fix" fantasy evaporated the second our contractor stepped on site for demo day. He took one look at that slope and told us to pump the brakes on any cosmetic work. He had a bad feeling this was way more serious than just settling. His gut feeling was basically the first siren that our budget was about to go up in flames. So, we did the only thing you can do: we called a structural engineer. And that one phone call changed everything. When the engineer's report came back… total gut punch. The problem wasn't the subfloor. It was the entire support system underneath. A slow, leaky pipe in the crawlspace had spent years rotting out a main support beam and all the joists tied to it. The piers that were supposed to be holding up the center of the house? They had literally sunk into the soggy, unstable ground. The whole structure was failing. And then came the bids for the repair. The first quote landed at $42,000. On a house we paid $55,000 for. We were just... in shock. We scrambled to get more quotes, praying that first one was a fluke. It wasn't. They all came back in the same terrifying ballpark—anywhere from $35,000 to over $50,000 to basically jack up the house and replace its entire core. Section 3: The Repair & The Struggle So now we're at a crossroads. Do we slap a band-aid on this thing and try to dump the property for a huge loss? Or do we go all-in and see this nightmare through? We chose to fix it right. It was the only way we could stand behind our work, but man, it was a financially and emotionally draining process. The repair was an insane amount of work. We had crews spending weeks in that dark, cramped crawlspace, jacking the house up, inch by agonizing inch. They were tearing out rotted beams, pouring new concrete footings, and completely rebuilding the home's central skeleton. Our tidy six-week renovation timeline? Obliterated. Our $20,000 budget? That was a fond, distant memory before we even bought a single can of paint. The stress was unreal, just watching your entire profit get buried in a damp crawlspace. By the way, if you're finding this horror story helpful and want more of the real, unglamorous side of flipping, go ahead and hit that subscribe button. You won't find any sugar-coating here, just the hard-earned lessons. Section 4: The Final Numbers & Lessons Learned Alright, so after all the dust settled, all the stress, and all the massive checks we had to write, let's do the painful math on this "great deal." #realestate #poppahomes #houseflipping #realestateinvesting #beforeandafter #fixandflip #investing