Posted by Kevin - WA on April 28, 2007 at 02:31:56:
Ryan,
You are right. I took my contractor over today to get a second opinion. Basically, I could possibly make a few bucks based on what we saw, but the last couple we have done have turned up stuff we did NOT see. And on this one, I would not have enough of a margin for the unknown. Add that to the “senior park” thing and I am going to give it a pass. Thanks for the advice.
K
Mold - Posted by Kevin - WA
Posted by Kevin - WA on April 23, 2007 at 01:32:01:
Hi,
I have the potential of picking up a 2/1 in a senior park for $500. I think I can get it turned around for about $4,000, and then sell it for about $16,500 or so.
I know that senior parks can be dicey, but with the relatively small numbers (acquisition) and the fact that things sell in this particular park, I feel good about it. Plus I have had several seniors call on my current unit in a family park, so I am confident that if I can sell this for $1500 down I can do it quick.
Anyway, my question relates to mold. I am getting it cheap because it has mold in the ceiling and bathroom floor. The roof has been replaced, so it appears the water damage and mold are old rather than new.
So, I have 2 questions. First, is there a good way to kill this? Does Killz really work? Or clean with bleach? Also, this is a 1979 model. It has those white panels on the ceiling, held up with screws. Some of them are severely damaged, others are fine and can just be painted. Can one still buy these panels to replace the damaged ones? The few deals I have done have had sheetrock so I am in a new world. This will be my first “tin can.”
Thanks in advance,
K
Re: Mold - Posted by Ryan (NC)
Posted by Ryan (NC) on April 23, 2007 at 05:31:32:
Ouch is my gut reaction, this deal has several strikes against it from the get go… It’s a 2/1, It’s in a Sr. Park, and it has mold issues that you ARE going to have to disclose to CYA.
In response to your question, The way I’ve fixed small situations similar to what you describe is to rip the ceiling panels down (wearing a respirator) and remove the insulation, flood the roof to insure that all leaks are fixed. If everything appears ok and no more water is entering the home spray the affected area with 50/50 bleach water and allow it to dry completely, reinstall new insulation, cover the hole with sheet rock or paneling, install trim strips to hide the seams, and paint everything with kilz . I’m sure there is more information on mold in the archives or that Anne can provide a more definitive answer on proper procedures for large areas.
My 2 cents is that there are easier deals out there!
Best wishes,
Ryan Needler