Updated almost 9 years ago on . Most recent reply
Advice on dealing with asbestos
Hey BP!
I JUST made an offer on a duplex (which I am confident I will get as the seller is very motivated), and upon receiving the property disclosures noticed that the property has Asbestos components ( it was built in 1948). I am very excited about this property for the potential it has as there is a lot I can do with it to turn it into a money machine.
The second reason I am so excited about this property is because it will be my first real buy and hold investment. That being said, I am looking for advice from more experienced investors on dealing with asbestos in a property. If left untouched, I understand asbestos is not a threat. However, I would like to make some upgrades to the property (i.e central Heating/cooling, laminate flooring, etc)
Being that I am not currently aware of how extensive the asbestos is on the property should I look at this as a potential deal breaker? Or are there ways to work around it? How would I figure out how much asbestos is actually in the property?
Any and all advice is welcome and very appreciated!
Regards,
GB