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Updated over 5 years ago,

User Stats

99
Posts
37
Votes
Dave Vona
Pro Member
  • Real Estate Investor
  • Centennial, CO
37
Votes |
99
Posts

Accounting for asbestos/lead abatement costs

Dave Vona
Pro Member
  • Real Estate Investor
  • Centennial, CO
Posted

I wanted to understand what other house flippers are doing to account for the cost of asbestos and lead abatement when purchasing a property.  The costs can be significant if there is asbestos and lead throughout the home.  I know testing can be done, but in Denver many of the wholesalers require a $5K - $10K non-refundable deposit.  And, if I was to assume an extra $20K-$30K of additional costs for any flip that requires significant demo work, then that would really kill most deals.  Do I need to become more familiar with what to look for in a home and then estimate the amount of the abatement costs more accurately instead of using a worst-case number?  Thank you.

  • Dave Vona
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