All Forum Posts by: Jorge P.

@Caleb Heimsoth it is. I decided to keep it & in the middle of renovations As we speak :-)

@Account Closed anytime. Def make spend time in your basement after hard rains :-)

@Steve B. ooh I felt it. However  I wanted to see exactly how high the level was. I don’t think I would had guessed 71% without the hygrometer :-)

@Matt Shields absolutely! 

@Patrick Soukup Your correct, Im not working with the same contractor. After consulting more then 15 contractors, the solution is to dig down around the entire home to foundation & footer. Once foundation is exposed,  we will:

1. add a concrete sealing solution to enclose all open pores
2. Cover foundation with membrane as an extra moisture barrier 
3. install a French drain. 

This should prevent water, moisture , radon from entering the home. Thats the plan :-)

@Ryan Blake Your welcome. I wanted to share the experience just for the reason! 

@Ryan Blake Thank you for the empathy, I appreciate it.  I was also surprised on how humid it was. The reason it was so humid was because moisture was entering through pores in my foundation. I had asked my contractor about it when I 1st started renovations on the property but he "assured" me  that it did not need to be waterproof.  This was one of my 1st fix & hold . Like they say on around BP "You don't know what you don't know". Now I know. 

Im def. grateful that I found & solved  this issue before letting a tenant move in, because that would had been much more expensive. :-)

I'll start off  by saying... I actually LOVE when things like these happen to me because it gives me an opportunity to learn & figure out  the solution to a problem thats common in homes in my market. Now that I know how to solve this issue, Im able to buy properties some may pass on when they encounter it. 

Plot: Plot refers to the sequence of events inside a story which affect other events through the principle of cause and effect

I had just finished remodeling the last apt in my latest multifamily rental property. The apt & property were officially tenant ready (so I thought) and I decided to take a 2 week vacation to compansate myself for the work well done.  

I leave. I come back & this is what I find when I walk into the apt: (warning! Scary pictures below)

I had a mixed of emotions run through my head, when I saw mold growing on the brand new doors I had installed.  (Shocked, Scared, Upset, frustrated, confused , Sad (lol) & Curious.)

My last emotion is one I consciously choose when I encounter a problem, in order to get into "Action mode". I asked myself the question:

WHY was MOLD growing in my brand NEW Rental!? WHY God! WHY!!? -  I needed to understand it. So, I got on google & started researching .  The answer to my question. Humidity.

WHAT I LEARNED ABOUT MOLD: 

Mold will start to grow in any indoor environment where the humidity level is at or above 50% for an extended amount of time. 

With that said, I needed to find out what was the Humidity level in the apt. I bought a Hygrometer, which revealed the humidity level in my apt to be 71%!.  (Mold haven)

My goal then was to stop the mold from growing, spreading & prevent it from growing again. 

MY SOLUTION: 

1.Kill/remove the current mold by using a mold remover spray , letting it sit for 2 hrs then scrubbing it off. 

2. Bring the humidity level below 50% to stop & prevent mold from growing. I bought 3 dehumidifiers and had them run. After 20 min. the humidity level dropped to 65% 😁. These humidifier would turn off when it reaches the desired humidity & on when humidity levels increase. (I set it to 40%).

As long as I  keep the humidity level below 50%, the mold won't come back.  The apt is currently being retouched & should be ready to rent in 3 weeks time.  The real problem however was not the mold. Ask me about the real problem and how I solved it in 2 weeks 😁

Sorry for the long post, I hope you found it informative. 

@Charles Richardson I first want to congratulate you on being motivated & having some ambition. 

Now I have a couple of questions regarding your question/goal:

 1. When you say " I found an apt compl" - what exactly did you do to find it? 

           - Did you find it online & analyzed the property and found it to be a good deal based on your analysIs? 

              (You know a good deal by knowing the market, so hopefully you know yours)

           - Did a friend tell you about this or did you go driving for dollars and tracked the owner down? 

               (off market - investors love these)

Point I am making is , you need to find some sort of value to this property that makes it sellable to a buyer. Just because you found it online somewhere doesn't mean is a good deal.

2. How many deals similar to this one have you done?  

If none, then Manage your expectations... understand that you may or may not succeed this time around but you will LEARN A TON! 

3. Whats your goal & outcome? 

 If you just want to make some quick cash because you lost your job, why not try wholesaling something where the buyer pool is much larger? I think you would find an end buyer for a $25k-$200k wholesale deal much faster (More people have access to this type of cash) then a $21M 96 unit apt Complex.

Just some questions to spark a thought process. Best of luck in whichever way you decide to go! 

JP. 

Great info James , sounds like you know your market. Thanks for sharing @James Wise