Mold Your Way To Motivated Sellers (Part 2 of 2)
Last week we touched on looking at Moldy houses for investments.
Now that I've peaked your interest let me hit home real quickly here the opportunities this presents to real estate investors. When you can find properties with mold contamination you should be thinking big dollars because nine times out of ten the owner, insurance carrier, and lender want to be rid of the problem and like yesterday. When you locate a property with such mold contamination you should be able to negotiate price and/or terms very favorable to you.
When dealing in properties that have mold contamination you have to think of it in the same light as any other repair. The repair will be substantial to adequately remove mold contamination from a property and should be done by professionals that will insure the work in addition to being licensed and bonded. Of course there are nuances to having a mold-contaminated property resolved from start to finish so that hazard policy can be issued on in order to meet lending guidelines if applicable. The key here though is the problem which is mold and a way to get your foot in the door on a great deal.
I market aggressively to insurance agents that I buy mold-contaminated properties. How funny is that turning the tables because if you’re like me you get mailed to death from insurance agents about whole life policies, health insurance, etc... If I see business cards at public places of insurance agents I take their mailing address and phone number as well as the good old yellow pages. To date now I have over 200 insurance agents that I actively mail to just to state that I buy properties with mold contamination.
Once you do a little research on how much it costs and how to make a mold contaminated property "clean", the sooner you are to finding your next great deal with "Finding All The Motivated Sellers You Can Handle!".
Good Luck!
Scott Rister
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