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Updated about 4 years ago on . Most recent reply

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Wyatt Pfeifer
  • Investor
  • SW Michigan
0
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4
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Is Mold a deal breaker for a BRRRR property?

Wyatt Pfeifer
  • Investor
  • SW Michigan
Posted

Hello everyone! 

This will be my first post here in the forums, but have been into bigger pockets for awhile now. My wife and I have found the power of real estate here just over a year ago and have dedicated a large amount of time into how to get started. I have walked a few properties here recently, and finally found one that seemed like a great start and BRRRR property. The house is a small 1,040 sq.ft. 2 bd 1 ba in SW Michigan and everything in the house looked decent, needs some cleaning done, paint, flooring, etc..

The main issue with the house is mold, and its everywhere. It started in the bathroom and seem to have festered over the summer with it being vacant the past year, and the mold has reached a lot of the trim across the house. I'm hearing everything from "it's going to be way too expensive" to "it might just need a deep clean". Regardless I have no idea what to expect with cost of removing mold from worst to best case scenario. The mold is also on the ceiling of the bathroom, which causes concern for the actual roof itself and what if completely re-doing the roof is where the cost will not be worth the investment. 

Maybe a bit long winded on the description, but wanted to paint the picture of what to expect and my lack of knowledge on how to deal with it. Any advice on how to deal with mold? or any experiences on dealing with mold and an investment property?

Thanks!

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