All Forum Posts by: Jason Snider

Chris,

I appreciate your response and thanks for the welcome. It appears that there were some tree branches that sat on one spot and damaged the roof, the rest appears okay from ground level. The crazy rainy season didn't help matters either. To answer your questions... yes there is an attic and the roof is made of comp. shingle. I think the mold issue is a biggie as there is definite signs on the interior drywall.

I'm guessing all the wet/damaged drywall would have to be replace and the studs sprayed to kill any mold spores. I'm suffering from analysis paralysis on this deal as I keep analyzing it.... Did I mention that this would be my first flip?? :) I guess I couldn't just start with a paint and carpet deal. LOL

Stats on the deal are as follows....

Purchase price - 60-65k

Renovation - 30k

ARV - 130k

I'm thinking the renovation budget should be about correct except for this roof/mold issue that's got me worried. How does this deal look?

Hi everyone, I wanted to quickly introduce myself and say hi as a new member. I have a property that I'm looking at that has some water damage on the inside (ceiling damage) in 2 spots. If the roof had leaked so much as to cause the ceiling drywall to fall down am I setting myself up for big costly repair? House is a 1 story ranch built in 1960. The house is dated and would be renovating for retail. Can possibly get the house for around 60-65k and its ARV is 130-135k. Does this sound like a good flip investment? I'm concerned about hidden costs with the water damage. Can anyone shed some light if you have experienced this? Thanks Jason