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Updated almost 5 years ago on . Most recent reply

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Lawrence Hopkins
  • Investor
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contaminated property Legal

Lawrence Hopkins
  • Investor
Posted

Found a 7 plex that had gas spilled on it several years ago. It was cleaned up and cleared by DEC but spill still under foundation and roads. Title has spill listed and says the lower unit can not be rented as residential. Im wondering how I can purchase this property and protect myself from the liability of this spill ever shows its ugly face again. How can I turn this issue into profits for myself?

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Michael King
  • Rental Property Investor
  • Navarre, FL
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Michael King
  • Rental Property Investor
  • Navarre, FL
Replied

Get a reduced price and convert the lower unit into an office or self storage (you could offer to the tenants a 10x10 for $100 a month if the space exists)?

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