Mortgage Loans - Articles & Advice

Moldy Homes are a Great Investment

""
(c) Dr GW Graham

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.

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

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