I have been looking at several houses owned by HUD. They are priced at a discount and I can probably bid them even lower, but I have notice that most HUD houses have a note stating that the houses have “EVIDENCE OF MOLD NOT REMEDIATED”. I know how to remove it, but I am not sure if the fact that the house had mold is going to be problematic when I am ready to sell it after the rehab process.
Any advise from an experience investor will be appreciated.
Regards,
Mc
Are you in Florida? Just about every older house here has some mold in it. From what I’ve experienced, as long as you disclose that it had mold and removed it, you should be okay. HUD puts that statement on almost every listing I’ve seen from them.
Howdy Mc:
The mold could be as simple as some mildew under the sink where there was a water leak or in the bath around the shower. Most of the mold and mildew can just be removed with clorox. Be carefuk with the Black Mold that has dangerous spores. This should be dealt with prosessionally.
LOL
Ted Jr, What’s the best way to go about getting started in the real estate business. I have a couple of years of Sales/ marketing. Really looking forward to going at this for this year. I want to start off rehabbing. I have really thought about it. Looking into some old houses and rehabbing them,a nd possibly reselling them. What’s the best way to go. By the way do you charge for us asking for assistance. Or do you have your own class on -line. Just curious.