Moldy Homes Are A Great Investment

by George Graham

Published on this site: May 27th , 2005 - See more articles from this month...

Have you seen this in your classifieds? -"Will pay $$$ for moldy homes. Call 555-555-5555"

All you have to do is watch the news and you know about mold problems. We hear about Ed McMahan suing because his moldy home killed his pet dog. We also hear about Erin Brockovich and Sandra Bullock's problems with their brand new moldy home.

• Mold has been traced to people dying in moldy homes.
  
  
• Mold has been proven to be the leading cause of sinus infections
  
  
• (Mayo Clinic 1997)
  http://www.mayo.edu/proceedings/1999/7409a1.pdf
  
  
• Mold will destroy the wood in a house.
  
  
• Mold loves to grow on wallpaper and drywall.
  
  
• We have actually seen it grow on glass.

People have had to move out of these houses. Sometimes even letting the bank take back the house because repair costs are prohibitive for most homeowners. As we all know, the home insurance policies aren't covering these damages any more.

Not all people stuck with these problems give their homes back to the bank. But many times they are motivated sellers. And people who invest in real estate love motivated sellers.

Before now, divorce created most of the motivated sells. Move over quarrelling couples.

But the title of this article tells us that mold creates a great investment. How can that be true if mold destroys the health of the homeowner?

The answer is that mold can be fixed inexpensively.

The people who want to move out have been told that it will cost up to $80,000 to get their home fixed. Some people actually do spend this money and find out they still have the mold problem.

Why?

Because most mold abatements are made by construction companies. Many of these companies are “mold specialists” because they have taken a 3 day weekend class. It takes a Mycologist up to 8 years of college to learn the minimum amount of knowledge required to understand mold in the home.

Eight years versus 3 days. HHHmmmm !

Knowing how to tear down walls isn't the same thing as knowing how to eliminate mold.

So if someone hesitates at paying these unreasonable prices, they become a motivated seller.

Opportunities are made from these problems.

Want to find these houses? Go to your bank's home loan office. Advertise in your paper. They are everywhere.

Of course, you don't want to buy just every house. You just want sick houses, not dead houses.

• Go into the crawlspace and stick a screwdriver into the floor joists. Are they rotted?
  
  
• Look at the dry wall is it just green or is it falling apart?
  
  
• Is the roof sturdy? Can you see light coming through holes in
  the roof?
  
  
• If the building isn't falling apart, you have a "diamond in the rough."
  
  
• Contact a mold specialist. A Mycologist, not a contractor. They can walk you through eliminating the mold, step-by-step.
  
  
• We know a family quoted $80,000 to fix a moldy home.

They solved the problem for 85 cents. That house just needed some duct tape on their A/C ductwork to cover up cat scratches.

• Most repairs aren't that cheap. The average house is around $2000 to do an $80,000 repair.

Contractors also tend to spray chemicals that are more dangerous than the mold. They will often say something like this - "Its EPA approved."

My old EPA law instructor said that EPA approval just means that it won't kill MOST people.

A Mycologist will use something that kills the mold but won't hurt the homeowner. Mycologists are aware of the effect of these chemicals on people.

It is a matter of focus. Are you focused on the house [an inanimate object] or are you focused on people?

If you can buy a house worth $100,000 for $30,000 and fix it up for $2,000 there is $68,000 profit. Rent the house or sell it for a profit. They find another moldy home and do the same thing again and again.

Dr GW Graham For 30 years, Dr Graham has been helping people treat and prevent disease by showing them how to live in a clean environment.