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Updated over 3 years ago, 05/03/2021

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8
Posts
3
Votes
Amber Titus
3
Votes |
8
Posts

Mold in basement - what would you do??

Amber Titus
Posted

I BP! I'm actively looking to buy my first rental and found an off market deal I would like some advice on. The basement of this property has wood paneling covering the foundation and there is very evident signs of moisture and mold. I contacted a company that does foundation repair to see if they could go walk the property with me, but I'm afraid if I wait for them (1.5-2 weeks) the property might be gone. I am waiting for the wholesaler to get back with me as to when I can do a walkthrough. This property is in Indiana. I'm fairly sure this is a foundation issue causing the water/mold. The numbers seem to work (providing I calculated them right...just over 10% COC and cash flows over $230/mo.) See pictures below.....

What would you do?  Thoughts and advice??

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