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Rod Blunk
  • Investor
  • Edgewater, MD
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Looking at a flip property that has asbestos shingle siding

Rod Blunk
  • Investor
  • Edgewater, MD
Posted Dec 11 2014, 11:56

All,

I am looking at a nice potential flip property but it is disclosed the outside is asbestos.  I believe it is the shingle siding.  For estimating purposes:

1. Do I need to replace them (most likely for resale right)?

2. What type of mediation do I need and estimated cost?

3. Should I just walk away?

Right now my numbers with Rehab are giving me a 30% ROI (buy at $120K, Rehab $55K, ARV $258K) so i could replace the siding and still have a pretty good ROI but I don't know what that is going to be regarding pain and cost...

Thanks 

Rod

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