Mold Equals Money | Real Estate Investing

Don't write off moldy properties just yet.

Think moldy homes are worthless? If you do, read the article below to find out why moldy homes can make you lots of money. Check out the details below.

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They Laughed When I Said I Was Buying Moldy Houses But?. Then They Cried When They Saw My Bank Accounts? Bottom Line!!!!!! Let Me Show You How to Benefit From The Foreclosure Boom Buy Targeting Moldy Houses Which Can Be Had For PENNIES on the Dollar And Remedied Wholesale For A Handsome Profit!!! REO Mold Can Be Turned Literally Into Gold! At the same time REO mold properties can present large challenges for all of the parties involved, if not handled by a Mold Professional with the utmost of finesse skill and common sense approach to permanently eradicate mold and assume the potential detrimental liability for lawsuit.

REO property stands for Real Estate Owned which means Bank Owned in layman?s terms. Bank owned properties often remain vacant for twelve to twenty four months?until all the challenges to the Sheriff?s sale are over and the bank receives clear title and assigns the property to a Real Estate Agent for resale. In these vacant houses the smallest problem can become multiplied and quickly get out of control when mold is involved and water damage occurs. When there is no homeowner to call a plumber or a roofer. When there is no electricity to run a sewage pump or a sump pump?.. or in humid climates no electricity to run the ac, a small problem can become magnified and then get out of control?

Black mold has been made into a sort of media monster and can scare away buyers and drive the price of the Real Estate down if it becomes infested!!! It can be a legal liability too! Lawyers are calling mold the ?new asbestos?! I have been treating severe mold damaged properties for over ten years for prestigious banks and mortgage providers relocation companies property management and servicing companies. I have worked for Fannie Mae, Ocwen, the Veterans Administration, First Merit, Fifth Third, HSBC Household, Wells Fargo, Westfield Companies, Auto Owners, Nursing Homes, City Halls, Churches, and tons of Regular homeowners. The REO property presents a challenge to the contractor because there is a lack of historical information available to the contractor about the past water conditions or problems the have occurred in the past. Where the current leaks are and what other hidden sources of mold exist can be challenging to discover, and to offer a guarantee that all the mold has been eradicated.

When a home is unoccupied and serious colonization begins to take place, there can be many, many, hidden secondary infestations due to water movement in the air in the form of vapor. Fortunately, we have become experts at handling exactly these types of projects?.There is only one way to become expert at this type of abandoned home specific remediation challenge and that is? lots and lots of practice! We have the knowledge? because we have gutted countless REO mold properties completely naked? to the studs!!! When the flooring and sheetrock have been removed the path of the water penetration and passage becomes evident. We have expert project coordinators with specific knowledge gained from some many varied projects, from virtually ever type of water problem you can imagine.

We have had everything from animal urine inside of walls as a water source?.To six feet of standing water?.As I began treating these empty houses I began to realize there was a real need for competent qualified experienced mold clean up. I also discovered that there was enormous potential for profit to be had from investing in these forlorn stigmatized moldy homes?. The recent real estate debacles and foreclosure frenzy has been creating these moldy homes at record pace?. The good news is we have only scratched the surface? We are now treating the houses that were foreclosed 18 months ago so that means there will be a real opportunity for serious Investors for some time to come!!!!

Let me tell you a little story about a recent project we looked at for a large bank? The story was a classic; the house had been foreclosed about 18 months previous. As it sat empty there was no electricity to the basement?s sump pump. The basement you could tell had been beautiful?. There was a second kitchen, a giant fire place a bathroom and two offices or bedrooms?. At one time it was nice?. But when I got there it looked like something out of a Steven King novel.The walls, ceilings and floors were covered in toxic black mold!!!! The kitchen cabinets were covered in green fuzz and they were starting to warp out of control. Parts of the ceiling were on the floor as well. And mushrooms were even growing right out of the drywall!!!! I gave the bank a bid to correct the mold problem and get the house into saleable condition of around 8k to completely eradicate any trace of mold. I know that might sound expensive, but let me get to the exciting part? the math!

In this particular case the bank decided to forego the remediation? They then immediately dropped the price of the home by over 50k, fifty thousand dollars!!!! That meant that a savvy investor could POCKET $ 42,000, forty two thousand dollars by hiring me and doing nothing else to fix up the property!!!!!! That?s like walking down the street and looking down and finding forty grand!!! I was to busy to buy this property for myself so I posted it in my Buyers Club Bulletin and one of my Investor friends made over 30 grand in less than 6 weeks!!! It is also possible for regular folks to buy the home of their dreams and if treated properly, to rest assured that the mold problem is gone for good.

One of the areas we have had many experiences with is shoddy ineffective and failed attempts at mold clean up. We have had to retreat many failed mold projects done by do-it yourself investors and homeowners to fixing failed projects that were done wrong by a competitor. Sadly we have had to re-treat many projects. Last year we re-treated over forty ?professionally remediated? attics alone!!!

Sadly, we have also met the other side of the story?. Too many times?. the sick child tenant or family who is a victim of unethical mold treatment by a greedy investor who thought they knew enough to handle the mold project by themselves. They thought that a little elbow grease and a lot of bleach was all that is necessary! Unfortunately, we often get the calls six months after the house has been sold. The new owners have been sick ever since they moved into their dream home?. When they went away for a vacation their health improved? but got bad after they returned. One customers? daughter developed acute onset extrinsic asthma and others even things far worse! Mold is one of the most litigious (lawsuit prone) areas of the Law and should definitely be handled by a Professional for this reason (and many others)!

A properly treated and cleaned up former mold home, will sell though. The most important factor is the ability to offer the Buyer a certificate and warranty proving the mold has been eradicated and will not return. I have helped countless buyers and sellers come together. Having a professional warranty many times has been the hinge pin of closing the deal. Mold can be turned into gold. Step one: Locate a moldy property. Step two: Get an inspection report and estimate from a Certified Inspector. Step Three: Pre-cost the job and negotiate a Great Price with the bank.

Step four: Have the property treated and repaired. Step five: Flip or rent for a handsome profit!!!! Following the National Protocols for mold is not even a guarantee that the property is safe and clean. That is why we recommend you follow a much stricter military protocol for clean up! The military tested how to clean up a home or commercial building that had been contaminated by spore based pathogens just like toxic mold. They performed the study at Los Alamos national Laboratory after the anthrax attacks on the us post office.

They concluded that the National Guidelines followed by most all mold radiation contractors, are inadequate to completely eliminate a mold problem!!! That? s why we recommend you incorporate the use of a gas to fully complete the decontamination process. We ALWAYS recommend you follow the stricter military guidelines for your projects which means you can rest assured that the problem has been eradicated, permanently!

Remember, Reo Mold homes can be converted directly into Gold with the help of a friendly competent mold professional!!!1-800-948-4947

Charles Boday

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