Wholesaling deal finding

[Nathaniel Walker]

When looking for a deal to wholesale if it is built before 1978 how do you go about the deal whether or not it has led based paint still? If it still has the lead based paint should I forget about the deal and look elsewhere or is it something I can do to work with that deal still? Thank you 

[Derreck Wells]

Originally posted by @Jay Hinrichs:

Originally posted by @Will Barnard:

I agree with @Derreck Wells in that lead based paint as well as asbestos for that matter are issues to be concerned with but this does not mean to avoid homes with the issues for a wholesaler or rehabber. You simply need to know what if any, remediation costs you will have and any extended time delays for the process. CA has very strict laws on these items and anyone caught demolishing anything containing specific amounts of lead or asbestos can and will be heavily fined for it. You just need to know the costs as it is just starting me other rehab item to know the numbers on.

NO kidding I was demo ing 3 houses.. and my billy bob demo crew tried to sneak asbestos tiles to the dump.. someone walk our site saw the remnants turned us in..  that one cost me 20k to go in there after the fact and remove really small amounts of tile.. had to hire lawyer to negotiate penalty long and the short of it.. 37k .. so now we get the inspections ahead of time.  and it does cost money to deal with this stuff .. 

I don't know asbestos laws, but I do know they're no joke, and this is exactly why I can't stand people giving advice to out of state people on these things. A $37,000 fine is a huge hit to a lot of people and would bankrupt them, I don't think I could come back from it. Lead laws are the same way, huge fines for violating them, and some of the advice I've seen on here would not only get people fined, but they could be sued in civil court. The fines are steep, if I even have the wrong vacuum on the job site, I would get a $35,000 fine. It's crazy. 

In Massachusetts if you buy a rental property that hasn't been deleaded you are liable for all previous tenants that lived there, unless you start deleading within 90 days. So you can buy a building, never rent to someone with a child under 6, but STILL be sued if the past tenant claims their kid got lead poisoning when they lived there 5 years ago. The only way to remove the liability is to delead in the first 3 months after closing. It's how MA is trying to get all their rentals Lead Safe.. and it's a good way to do it. Now buyers can use it in their negotiation when buying the property, if there's no Lead Certificate on file, it has to be done so it can be a great tool.