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Rehabbing & House Flipping

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Jamie Wooley
Pro Member
  • Investor
  • Dallas, TX
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142
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Water Damage on Ceilings....Please Help!

Jamie Wooley
Pro Member
  • Investor
  • Dallas, TX
Posted Oct 23 2014, 19:37

I am looking at my first possible flip purchase.  I can account for all cost except this.  The roof needs to be replaced hence the water damage in most of the rooms on the ceilings.  The homeowner says it has been there for a while, whatever that means.  I am meeting my GC on Monday to give me an estimate for rehab cost (which I have a really good idea already) but they are not really on the up and up when it comes to mold.  I did not see any signs of mold anywhere in the house but I know this does not mean there is not mold there.  Should I get an inspection and find out or should I go forward with the deal.  My thoughts from a little google education is if I find mold I can have my contractor treat it as long as it's not black mold and I should be okay. Again this is my first flip so I really can't afford to walk into some huge cost that is unexpected here.  I am afraid if I get an inspector out they will tack me for all kinds of little stuff, this is a lower end neighborhood $50,000-$85,000 so these homes have a lot going on in them.  I want to do it right but we are not dealing with a high end home here.  Any thoughts?

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