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Updated over 10 years ago on . Most recent reply

User Stats

105
Posts
34
Votes
Belinda R.
  • Investor
  • Huntsville, al
34
Votes |
105
Posts

REHAB- Mold Remediation

Belinda R.
  • Investor
  • Huntsville, al
Posted

I'm looking for some feedback .I'm considering the purchase of a $25k house that has extensive mold in the ceiling and roof. The roof is completely dilapidated (not sure for how long). The ARV is around 115-130k. One level, 1700 sq feet. The house is situated on a downward slope with a small creek running beside the house (I wonder if this has contributed to any foundation issues) Great neighborhood and school district. If I rehab the house myself, I could very well exhaust all my capital. So I'm considering the following:

  1. 1)Take the entire house down to studs/strip floors
  2. 2.)Do mold remediation,
  3. 3.)put a new roof on
  4. 4.)Flip/wholesale to another investor to finalize the rehab

Has anyone done this before, if so, what are some of the pros and cons? Worst case scenario, If my bid is accepted, I'm prepared to do the rehab myself. Just trying to feel out other options. here. If you have any other suggestions please feel free to share. Thanks.

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