new to flipping but not new to real estate investing or construction. I am looking at 1200 square foot 1959 home with popcorn ceilings. The living room popcorn is peeling off so needs to be removed so while I am at it, going to do the whole thing.
First question. I know it is fairly likely there is asbestos. I heard there are kits at Depot. Are they reliable to test?
Second. If there is asbestos, how much $ would I be looking at? I went to Home Advisor and got a guy that said $4,000 and that the drywall and insulation may need to be removed.
Third question. Part of the siding at the rear of the home may need to be replaced. It is not wood so wondering if that could be asbestos as well. Thoughts on that?
This deal I am looking at is promising but if there are THOUSANDS of dollars due to asbestos issues, I may need to re-think.
Thanks for help!
@Sean Wilt The only way to be 100% certain and avoid any future liability is to hire and asbestos testing and abatement company to come in and give you a quote. They can take a look at the ceiling and the siding and give you an idea whether or not it’s asbestos and how much it would cost to remediate.
@Sean Wilt It would be best to get an environmental testing company out and take samples of any areas you plan to remove for the renovations. The testing cost may run anywhere from $500-$1000, depending on the number of samples you are requesting. That will be needed by the abatement company to confirm which areas have Asbestos-Containing Materials (ACM). This is an upfront cost, but will take the guess work out of the project.
The siding they can often look at and tell you if it is asbestos. Not all popcorn ceilings are asbestos so that needs testing for sure.