Targeting Houses That Need Foundation Work

By on July 1, 2015


 Flip Tip Summary

Many homeowners, and even a lot of investors are scared of foundation issues. Seasoned investors are more comfortable, and can get some of their best deals when others are scared. Brian Meidam tells us more in this Flip Tip…check it out!

FlipNerd Tip Transcript:

Mike: Hey, it’s Mike Hambright from, and we have a quick VIP tip to share with you from Brian Meidam, who’s going to share a tip on why you should target houses that need foundation work to buy.

Brian: Hey, everyone. Hey there, Mike. I think for investors out there looking at homes, you’re going to come across . . . if there are foundations in your market, I know some markets, you just have slabs. But if you’ve got a full foundation, you’re going to come across properties where the foundation’s just in really, really bad shape. So the tip is knowing how to fix those basements and knowing what it costs, because the reality is the homeowner is not going to be able to sell that to a retail buyer, because no bank is going to finance that property.
So the tool that I use on a regular basis when going into the basements is a self-leveling laser level. It’s $90 at the big box stores, and it has saved me a ton of money. But the key is you have to know what the tolerances are in your market, what home inspectors will say you need to do. You know, excavate, or beam, or put in drain towel systems. So once you figure that out, and that may vary by market, you’ll be able to add a lot of value into your properties and get deals that other people may pass on because they’re too scared to. But once you get comfortable with it, excavating basement walls is not a big deal.

Mike: Thanks for joining us for another flip tip. To access hundreds of tips and full expert interviews, please visit or join us in the iTunes store. We’d like to thank our sponsors, Home Depot, B2R Finance, and To access the most robust social platform in existence for real estate investors, where you can find off-market wholesale deals, find great vendors to help you and your business, and to learn and socialize with other real estate investors, please visit the one, the only If you’re not yet a member, you can set up a free account in about 30 seconds. It’ll be the best thing you’ve done all year. And if you’re already a member, you know what I’m talking about. So we’ll see you at

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