There are several key “buy signals” that experienced property investors look for when acquiring new investment property.
Mostly we look for signs of neglect that cause the physical condition of the property to deteriorate.
One of the biggest problems that can arise is the presence of mold in a potential investment.
Now let me say that there’s a huge difference between ordinary mold and BLACK MOLD. Most of the mold property investors find in residential investment property is not black mold. Just remember that black mold is the bad stuff.
Black Gold
There are thousands of different types of mold that we know of, but only a few can cause the kinds of problems you hear about all the time. Mold is difficult to find as it grows exclusively in dark and moist areas that are usually hidden somewhere in the structural areas of the property.
By the time mold shows up in the actual living areas, chances are that it’s spread throughout the house or apartment building. Mold has to have water in order to live.
So experienced property investors look for any source of water that may be leading into the house or property. Leaky plumbing and basement crawlspaces are breeding grounds for this stuff.
Cut Off The Water
The key to removing or remediating mold is to eliminate its water supply. After the water source is removed, you can simply spray the mold with bleach to kill it. If you’re just getting started in the real estate investing business, you may want to hire a qualified environmental consultant to help you with the problem.
So one man’s blessing is another man’s curse. In most cases, mold is an easy problem to solve. Experienced property investors already know this.
