All Forum Posts by: Bubba McCants

I agree with @Ned J. one month in and already starting to complain! We wouldn't do the 50/50, I would simply tell them that they have to pay for the inspection and if it comes back with dangerous levels of bad mold. Then and only then will I pay for the testing and the cost to clean it up. Plus tell them that you will provide them with an inspector for them to call and make the arrangement as needed. Otherwise they can provide their 30 day notice and we'll all be happy.

Hi, got a new tenant move in 1 month ago. They said they have been sick since they moved in and want to do a mold inspection.

Last family live there for 5 years with kids and never had any problem like that.

I ask if he smell any mold or any visible mold, he said he smell some

I been inside the house for 1 week straight cleaning the house 2 months ago, and I don’t smell mold or see any sign of mold at all.

My proposal was if I call out a mold inspection guy to come out, and they find nothing, we would split the cost of inspection 50/50. If they found mold, I would pay 100% of the cost of the inspection and fix.

I live in Arkansas.

If you were in this situation how would you deal with this?

Last time a lady wanted me to do mold inspection on my rental too but found nothing. I’m out $500 for nothing. Moldy smell was coming from clogged bathroom sink (I figure that out myself)

The answer is now is a great time if...

1. The financing is solid with high DSCR and fixed

2. The location is good with growth metrics

3. The deal cash flows or has a clear defined path to achieve solid cash flow

4. The sponsor has an excellent track record

5. The business plan is clear and well thought out and fits your criteria

6. The underwriting is actually conservative. Rent growth at or below market historicals, sales price matching current comps/cap rate, etc

Thats a start. By your post it sounds like you should take a bit more time to be sure you fully understand what you're investing in.