All Forum Posts by: Bill Patterson

Tom, I would be very careful. Besides not being totally honest if you do in fact do any renovations, repairs or painting covered by EPA's RRP regs, if the EPA gets their act together and levies any of the huge fines that they can impose, that's a lot of $$$ out the window! Also, any landlord would be crazy to cheat on this one! There will be attorneys lining up to help tenants with lawsuits against landlords if their kids test for any lead content. Home buyers will also be able to request documentation that shows that the RRP regs were followed for any renovations including painting that were done after April 22, 2010.

I've taken the certification and have decided that my construction company will no longer do remodel work on pre-1978 homes.

The era if the "ambulance chaser" is past.......now they are chasing lead paint!

For the small return, I don't see anything but trouble. Legal or not legal....I can see where it can be argued either way. Have you ever tried to get a tenant out if they don't want to go? It can take time, $$ and screw up an end buyer closing. Sure, the contract says out in 10 days, but if they don't have a cheap place to go, will they abide by the contract?

I like the idea of a live event, with the ability to (for the same price) get it on line at a later date. BP could have a library of info that could be accessed.

I guess I'm just behind, I use my phone for calls and don't even have a text plan! My next phone will have a keyboard and I'll access the net. For now, it is good that I am usually close to a computer when I have a few spare minutes, since BP is a favorite place to go!

As a member of NAHB, I have been involved in several other forum discussions regarding this issue. You will also need to check with your insurance carrier, since coverage for this will need to be through another policy. Price quotes vary greatly. Also, the possibility of "savvy" home owners suing contractors for not following RRP guidelines for renovation or record keeping has been pointed out. I wouldn't stretch my imagination very far to see this extending to sellers (investors), too.

Julie, you seem pretty "on top of it" for a "Greenie"! BP members come with varying degrees of experience and investment smarts. You will do great!
Bill

I'm pretty stingy with my votes. It has to be a worthwhile post for me to make one. I don't even know if Nick is a "Good Lookin' Whore", but for the good of BP, I put a bag over his head and voted. Please note, that James and Ted, didn't need bags, I voted for them just because I've worked with them before and their generosity to donate, too. BTW, I didn't catch any ITD's (Investment Transmitted Diseases) from them!

Great to see this team working a good one! Let's all hope that Scott's wife gets it closer to the $50K! Good Luck!

Julie, don't worry about a "rusty" gas line. They are what we call black pipe and they will get surface rust. No problem! Lucia has a great point and one that all rehabbers should consider. The new RRP guidelines will probably add 10% to 25% to any repair or replacement of anything that disturbs lead based paint. This would include window replacement, bath & kitchen remodel, exterior and interior painting where the existing paint is scraped or removed, etc.

I have taken the certification course and decided that I will not get involved in pre 1978 remodels unless I determine that there is no lead paint. There are ways to get the paint tested, but you must document and save the test results.

Welcome, Lee! I'm glad to hear of your interest in real estate investment. Many Bigger Pockets members (including me) have been doing this for years. I'd suggest that you spend some time reading the different forums and by doing so, you will get an idea of what is involved in the different investment areas. Ask questions when you have an interest or don't understand. You will learn a lot that will make your first investments more likely to succeed. Good Luck!