They Laughed When I Said I Was Buying Moldy Houses But.... Then They Cried When They Saw My Bank Accounts' bottom Line!
Let Me Show You How to advantage From The Foreclosure Boom Buy Targeting Moldy Houses Which Can Be Had For Pennies on the Dollar And Remedied Wholesale For A Handsome Profit!
Reo Mold Can Be Turned de facto Into Gold!
DRYWALL SETTLEMENT
At the same time Reo mold properties can gift large challenges for all of the parties involved, if not handled by a Mold expert with the utmost of finesse skill and tasteless sense coming to permanently eradicate mold and assume the possible detrimental liability for lawsuit.
Reo asset stands for Real Estate Owned which means Bank Owned in layman's terms. Bank owned properties often remain vacant for twelve to twenty four months...until all the challenges to the Sheriff's sale are over and the bank receives clear title and assigns the asset to a Real Estate Agent for resale. In these vacant houses the smallest problem can become multiplied and fast get out of control when mold is complex and water damage occurs. When there is no homeowner to call a plumber or a roofer. When there is no electricity to run a sewage pump or a sump pump..... Or in humid climates no electricity to run the ac, a small problem can become magnified and then get out of control...Black mold has been made into a sort of media monster and can scare away buyers and drive the price of the Real Estate down if it becomes infested!
It can be a legal liability too! Lawyers are calling mold the "new asbestos"!
I have been treating severe mold damaged properties for over ten years for prestigious banks and mortgage providers relocation clubs asset management and servicing companies. I have worked for Fannie Mae, Ocwen, the Veterans Administration, First Merit, Fifth Third, Hsbc Household, Wells Fargo, Westfield Companies, Auto Owners, Nursing Homes, City Halls, Churches, and tons of regular homeowners. The Reo asset presents a challenge to the undertaker of a package deal because there is a lack of historical information available to the undertaker of a package deal about the past water conditions or problems the have occurred in the past. Where the current leaks are and what other hidden sources of mold exist can be involving to discover, and to offer a warrant that all the mold has been eradicated.
When a home is unoccupied and serious colonization begins to take place, there can be many, many, hidden secondary infestations due to water movement in the air in the form of vapor.
Fortunately, we have become experts at handling exactly these types of projects....There is only one way to become scholar at this type of abandoned home definite remediation challenge and that is... Lots and lots of practice!
We have the knowledge because we have gutted countless Reo mold properties completely naked to the studs!!! When the flooring and sheetrock have been removed the path of the water penetration and tube becomes evident. We have scholar task coordinators with definite knowledge gained from some many various projects, from virtually ever type of water problem you can imagine.
We have had all from animal urine inside of walls as a water source....To six feet of standing water. As I began treating these empty houses I began to realize there was a real need for competent fine experienced mold clean up. I also discovered that there was big possible for behalf to be had from investing in these forlorn stigmatized moldy homes....
The up-to-date real estate debacles and foreclosure frenzy has been creating these moldy homes at narrative pace.
The good news is we have only scratched the surface... We are now treating the houses that were foreclosed 18 months ago so that means there will be a real chance for serious Investors for some time to come!!!! Let me tell you a puny story about a up-to-date task we looked at for a large bank... The story was a classic; the house had been foreclosed about 18 months previous. As it sat empty there was no electricity to the basement's sump pump. The basement you could tell had been beautiful.... There was a second kitchen, a giant fire place a bathroom and two offices or bedrooms.... At one time it was nice.... But when I got there it looked like something out of a Steven King novel.The walls, ceilings and floors were covered in toxic black mold! The kitchen cabinets were covered in green fuzz and they were starting to warp out of control. Parts of the ceiling were on the floor as well.
And mushrooms were even growing right out of the drywall!
I gave the bank a bid to accurate the mold problem and get the house into saleable health of around 8k to completely eradicate any trace of mold. I know that might sound expensive, but let me get to the involving part... The math! In this singular case the bank decided to forego the remediation ... They then immediately dropped the price of the home by over 50k, fifty thousand dollars!!!! That meant that a savvy investor could Pocket ,000, forty two thousand dollars by hiring me and doing nothing else to fix up the property!
That's like walking down the street and looking down and looking forty grand!
I was to busy to buy this asset for myself so I posted it in my Buyers Club Bulletin and one of my Investor friends made over 30 grand in less than 6 weeks!!! It is also possible for regular folks to buy the home of their dreams and if treated properly, to rest assured that the mold problem is gone for good.
One of the areas we have had many experiences with is shoddy ineffective and failed attempts at mold clean up. We have had to retreat many failed mold projects done by do-it yourself investors and homeowners to fixing failed projects that were done wrong by a competitor. Sadly we have had to re-treat many projects. Last year we re-treated over forty "professionally remediated" attics alone !!!
Sadly, we have also met the other side of the story.... Too many times....
the sick child tenant or house who is a victim of unethical mold medicine by a greedy investor who opinion they knew adequate to handle the mold task by themselves. They opinion that a puny elbow grease and a lot of bleach was all that is necessary! Unfortunately, we often get the calls six months after the house has been sold. The new owners have been sick ever since they moved into their dream home.... When they went away for a vacation their health improved... But got bad after they returned. One customers' daughter industrialized acute onset extrinsic asthma and others even things far worse!
Mold is one of the most litigious (lawsuit prone) areas of the Law and should surely be handled by a expert for this infer (and many others)!
A properly treated and cleaned up former mold home, will sell though. The most prominent factor is the potential to offer the Buyer a certificate and warranty proving the mold has been eradicated and will not return. I have helped countless buyers and sellers come together. Having a expert warranty many times has been the hinge pin of end the deal.
Mold can be turned into gold.
Step one: locate a moldy property.
Step two: Get an inspection narrative and estimation from a Certified Inspector.
Step Three: Pre-cost the job and negotiate a Great Price with the bank .
Step four: Have the asset treated and repaired.
Step five: Flip or rent for a handsome profit!
Following the National Protocols for mold is not even a warrant that the asset is safe and clean. That is why we propose you effect a much stricter soldiery protocol for clean up! The soldiery tested how to clean up a home or commercial construction that had been contaminated by spore based pathogens just like toxic mold. They performed the study at Los Alamos national Laboratory after the anthrax attacks on the us post office. They terminated that the National Guidelines followed by most all mold radiation contractors, are inadequate to completely eliminate a mold problem!!! That' s why we propose you consolidate the use of a gas to fully complete the decontamination process. We all the time propose you effect the stricter soldiery guidelines for your projects which means you can rest assured that the problem has been eradicated, permanently!
Remember, Reo Mold homes can be converted directly into Gold with the help of a cordial competent mold professional!!!
How to Turn a Moldy Foreclosure Home Into Pure profit - Reo Mold Can Be Turned assuredly Into Gold! DRYWALL SETTLEMENT
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