All Forum Posts by: Kenneth Drysdale

@Jaime Penix 

Renting may be your best bet for a period of time. the condos I was referring to have sold as low as $35K for 2/2's in the 1500 sqft range, only to rent...even when substantially marked down on the open market.

I have heard from multiple people that the ceilings do not need to come out, as they are the 5/8's drywall paneling. Most of the CDW that was imported was 1/2, meaning it would only be on the walls. Ceilings are easy to tell, as you would just need to get in the attic and look under the insulation.  Your best bet is to find a local "CDW expert". If there's CDW, there'd defiantly an inspector or someone well versed with CDW in the area.  

@Jaime Penix While I have not personally dealt with a home that had CDW, I lived in an area that had it everywhere. I have briefly looked into the regulations on how to remediate a home with CDW, only to find multiple different recommendations. I would think it really comes down to the city the house resides in. It's definitely not difficult to spot a house with CDW, the smell alone with tell you. CDW has a over abundant amount of sulfur, and if a house has it, you'll know by the rotten smell. The one thing I have heard from people that have bought CDW REO's, is that even with the house repaired properly, the CDW stigma still makes it a tough sale. I know a guy that bought 3 condos thinking he will be able to flip them, only to get stuck holding them as buyers were more concerned with the adjoining units having the CDW and the "possible" possible effects it could still have being on the other side of the wall. He ended up renting all 3 units with no problem, but still has his money locked up.

The good thing is, I've been told, is that a majority of the CDW is all 1/2", meaning the ceiling drywall does not need to be replaced. If you can find a SFH for the right price, it may be worth it, but condos/TH may be a bit tougher of a sell.

Best of luck.

@Stefan Wolff  @Mitchell L. @Alan A.  @David McEwan 

Hello guys....like @David McEwan I am searching for my first REI deal. I am looking for a flip and would love some local advice to get started off with. I have spent a great deal of time reading over BP and getting a grip on the REI industry, but learn best from hands on experience. If any of you guys would like to share your knowledge, I'm all ears.

2015 GMC Yukon XL. 3 kids will do that to you.

@Andrew Davis  Thanks for the insight. I'm taking it all in as much as I can. I look forward to sharing my adventures/experiences with you all.

Welcome @Alexandru Rotaru  I am based in Weston, FL and new to investing as well. We should link up sometime and share our journey. 

@Jeremy Tillotson @Paul Timmins 

Thanks for the welcome. I have already bought both of J. Scott's books and awaiting them in the mail. I look forward to getting to know all of you in this process.

Cheers!

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Hello everyone, my name is Kenneth and I have been a licensed real estate agent for 1 year now. I have had a pretty good start with my real estate career, and want to venture into investing for myself. I look forward to forward to getting to know everyone here and learning the ropes. :)