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Updated about 5 years ago on . Most recent reply

User Stats

28
Posts
1
Votes
Cedric Jenkins
  • Rental Property Investor
  • Biloxi, MS
1
Votes |
28
Posts

Is it impossible to overcome a minor mold issue?

Cedric Jenkins
  • Rental Property Investor
  • Biloxi, MS
Posted

Hi, BP family. Quick question..

We found a property being sold as is for 25k.

However there’s a mold issue (not severe). Work needed is 8k.

ARV is 63k.

I believe I can leverage the fact that there’s mold to lower the asking price significantly. Is this a legit tactic experienced investors use? If i can negotiate the price down to 15-20k it would be a win.

Does any have insight or success stories they can share about overcoming similar mold issues?

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