Chinese Drywall

Chinese Drywall

Residential Real Estate Agent · Costa Mesa, CA · Member since 2008 · 1k+ posts · 380 votes

http://www.bizjournals.com/southflorida/stories/2009/05/18/daily29.html

Jeff I know you've mentioned this in the past but I thought this was a good info piece people should know about. Sometimes importing building materials can turn out to be a bad move, even if its cheaper in the short run.

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  • Jeff TumbarelloPro Member
    Real Estate Broker · Fort Myers, FL · Member since 2008 · 1k+ posts · 323 votes
    17y

    Wait till this plays out

  • Joshua D.Pro Member
    BiggerPockets Founder · HI · Member since 2008 · 16k+ posts · 5k+ votes
    17y

    It could get really bad!

  • Residential Real Estate Agent · Costa Mesa, CA · Member since 2008 · 1k+ posts · 380 votes
    17y

    Do we have a reliable number in terms of possible homes affected? Some reports mention as many as 100K homes. That is pretty damn scary.

  • San Antonio, TX · Member since 2009 · 3k+ posts · 1k+ votes
    17y

    Wow!

  • Real Estate Investor · OH · Member since 2009 · 36 posts · 1 vote
    17y

    Why wouldn't such tests be taken before the goods are transported into the US?
    Unreal

  • Real Estate Investor · the villages, FL · Member since 2008 · 5k+ posts · 3k+ votes
    17y

    They didn't seem to know about the items used in the drywall. The gases come out and then things go crazy. About 20% of homes tested in areas of FL have it. It doesn't seem to be a fixable situation. It does smell like a sulphur or rotten egg. The easiest places to see it are in the outlets, switches etc. The ground wire will be black and pock marked. All metal seems to be affected. Some of the physical characteristics to health are more frequent nose bleeds, rashes, stiffness and soreness of joints. No one knows long term problems, it hasn't been long enough. At least one seller and realtor committed fraud. Housing inspector inspected house for buyer in Jan. Found the drywall problem and buyer walked away. Just by accident, SAME inspector was hired by a DIFFERENT buyer to inspect same house. ALL the tell tale signs had been replaced; ground wires, refrigerator coils, and plumbing connections. They all looked shinier than a new copper penney!! This could be a major problem in the future. For about $1400-$1800 a professional inspector can test the air and send to a lab in CA or one other state to determine for sure.
    Just the tip of the iceberg, I'm afraid. Rich

  • Will BarnardPro Member
    Moderator
    Developer · Santa Clarita, CA · Member since 2008 · 15k+ posts · 10k+ votes
    17y

    But a potential windfall of opportunity for the savvy investors like Rich, Jeff, and others, myself included.

  • Real Estate Investor · the villages, FL · Member since 2008 · 5k+ posts · 3k+ votes
    17y

    Why do you think I'm re-locating to FL? The sunshine ? I'll keep you all posted from the trenches. I have a few offers out at present and more to follow... Rich.

  • Real Estate Agent · Tampa, FL · Member since 2009 · 456 posts · 123 votes
    17y

    Man, I would buy those by the truckload. If you can negotiate a low enough price, and re-do the wiring, plumbing, etc, there must be a lucrative profit possibility...

    it does suck for the people that own them, though.

  • Jeff TumbarelloPro Member
    Real Estate Broker · Fort Myers, FL · Member since 2008 · 1k+ posts · 323 votes
    17y

    I would not touch one till the EPA decides what it is....

    Locally about 10 percent of the 2004-2006 vintage is expected to have it

    Here is a link from the state of Florida about what to look for

    http://www.doh.state.fl.us/environment/community/indoor-air/inspections.html

  • Real Estate Investor · the villages, FL · Member since 2008 · 5k+ posts · 3k+ votes
    17y

    Jeff,
    I haven't been on BP for awhile as you know. Excellent article to print and use when doing due diligence on properties . I can't wait!!

  • Joshua D.Pro Member
    BiggerPockets Founder · HI · Member since 2008 · 16k+ posts · 5k+ votes
    16y

    Here's a link to a new study on Chinese Drywall I thought worth sharing:

    Drywall Information Center

  • Rental Property Investor · Mercer Island, WA · Member since 2008 · 22k+ posts · 14k+ votes
    16y

    You may be referring to the Press Statement on Corrosion in Homes and Connections to Chinese Drywall issued today. Apparently the CPSC has decided there is a real issue.

  • Attorney · Raleigh, NC · Member since 2008 · 4k+ posts · 1k+ votes
    16y

    Don't file a claim if you've got it. The coverage will be dropped and the house will be flagged.

    Any word on whether or not we can deduct this from our 800 Billion we owe them?

  • Real Estate Investor · Audubon, PA · Member since 2009 · 13k+ posts · 8k+ votes
    14y
  • Real Estate Investor · Irvine, CA · Member since 2011 · 189 posts · 33 votes
    14y

    Any more info on treating the issue on homes that do have chinese drywall?
    Still seeing some good deals that may/may not have it...

  • Real Estate Investor · Virginia, DC &, MD · Member since 2008 · 261 posts · 71 votes
    14y

    It blows me away why we continue to purchase Chinese manufactured products; especially construction, food and safety.

  • Flipper · Chicago, IL · Member since 2012 · 24 posts · 8 votes
    14y

    We purchase these products because they are cheaper, not better made.

    How many people really care about the brand or origin of drywall in their homes until it's a problem?

    For any commodity type of good or product that the average Joe has no direct knowledge or care of it's source - China is the default option.

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