mold

[Daniel Wiley]

Hello everyone

This is a first post for me and i know i can get good advise here. Ive come across a charming 1475sqft 2/1 SFH built 1958 in a marginal neighborhood in tampa fl. It sits right by USF university/I-275/busch gardens/adventure island. The seller bought it for his daugjter to live in while in college. She is gone and he really wants the house gone. Houses in good shape sell for around $80,000. With that said, the roof is leaky and im positive there is mold. Strong smell. Is mold a no go? The seller was asking 55k. After speaking with him, he just wants to dump it and would take 15k for it. It could be a good rental or maybe flip.

[Wes Eaves]

@Daniel Wiley Hello and welcome to BP. I would't say any deal is a "no go", but you have to make sure that the numbers work. Have you found out how much it would cost to have a mold remediation company come in and get rid of the mold? I would just add up the all the cost (including addressing the mold issues) to repair the property to be a good rental or flip and then go from there. If the ARV is $80,000, I would think that buying it for $15k would make sense...unless of course there are other major issues with the house.

Best of luck and keep us posted on how it goes.