Topic: Buying a shitty house (Read 4313 times)

stealthiskey · « **on:** June 23, 2009, 11:31:31 PM »

So around the area where I want to live I can either afford an old shitty house that's really expensive and needs a little work, or I could buy a REALLY shitty house that's cheap and needs a ton of work.

The one I'm looking at has a bitchin driveway, bigass carport that could easily be a garage, plenty of lot space, and backs up to trees. Biggest problem is the basement has massive mold damage. Also the bathrooms are kinda gross, the carpets have been trashed, and the kitchen could stand a renovation. Basically everything. 1st floor is about 1000 sq ft, and so is the basement.

Anyone ever have to renovate a 2000 sq ft house? How difficult expensive is it? I'd prolly hire someone for the mold...

highroller54 · « **Reply #1 on:** June 23, 2009, 11:34:20 PM »

Get someone (pro) to check that mold out, than can be huge$$$$$$$$$$$$$$$ and if done wrong can fuck up your health for life.

dvst8r · « **Reply #2 on:** June 23, 2009, 11:38:43 PM »

Quote from: stealthiskey on June 23, 2009, 11:31:31 PM

...Anyone ever have to renovate a 2000 sq ft house? How difficult expensive is it? I'd prolly hire someone for the mold...

Renovations can be from a few hundred dollars for some paint, or 40K or more on one room. Really depends.

colt45 · « **Reply #3 on:** June 23, 2009, 11:47:26 PM »

buy land and a tent.

Teg2boo · « **Reply #4 on:** June 23, 2009, 11:51:58 PM »

Quote from: highroller54 on June 23, 2009, 11:34:20 PM

Get someone (pro) to check that mold out, than can be huge$$$$$$$$$$$$$$$ and if done wrong can fuck up your health for life.

What he said

My opinion:

My parents bought a shitty house 12 years ago, invested 30k into it and still a shitty house now. There are always a new thing that breaks every years. Buy a good house or don't buy... You'll loose less time renovating your house and more time with your family (if you have one)

Stealthmode · « **Reply #5 on:** June 23, 2009, 11:53:29 PM »

Other than kitchens and bathrooms, everything else is pretty cheap if you're willing to do work. What you want to do is find the worst area of mold and cut a square out of the drywall. If it's only within the drywall you can rip it out and replace the drywall. If it's in the insulation/framing, I'd hesitate.

Joseph Davis · « **Reply #6 on:** June 24, 2009, 01:13:53 AM »

I award the Pink Penis of Power to Stevemode for demonstrating uncontrollable houseknowledgeabilities in this thread. You're quite the little homemaker there, Steve, a veritable Mr. Mom.

highroller54 · « **Reply #7 on:** June 24, 2009, 01:15:40 AM »

penis pillow?

d-rail · « **Reply #8 on:** June 24, 2009, 04:47:45 AM »

Quote from: c0mpl3x on June 24, 2009, 01:46:28 AM

GAY

junkyard racer · « **Reply #9 on:** June 24, 2009, 07:52:42 AM »

I bought a house which I thought needed some flooring, paint and a new garage door. Long story short, I ended up fully re-modeling the entire place.

Be careful in buying a house that you think might need a little work. In the end, it might need a lot of work. I/We have done everything our self...everything from laying the floor to re-doing a good portion of the kitchen plumbing to doing some electrical in the shitter area so we have saved ourselves a ton of loot.

patsmx5 · « **Reply #10 on:** June 24, 2009, 08:03:56 AM »

If you find a house that you're seriously considering purchasing, hire a house inspector to go over the place. For like 500 bucks, you'll get a report on all kinds of shit, and know what you've got and what's wrong. Almost always, you can use the report to point out weak spots of the house at the negotiating table, and save more than enough money to cover the cost of the inpsection.

My dad's a contractor, so I know a little bit about buying/fixing/selling houses. We only buy dumpy houses that appear to need to be torn down. You have to know what to look for, and what matters. Last few houses we bought were 20K, 12.5K, and 15K, being a 1400, 3200, and 2000 sq*ft house respectively.

97Econobox · « **Reply #11 on:** June 24, 2009, 09:10:05 AM »

What steve said.

deeznutts · « **Reply #12 on:** June 24, 2009, 09:33:52 AM »

Quote from: c0mpl3x on June 24, 2009, 01:46:28 AM

that had to of been the lamest movie ever made ,,

hatrack48 · « **Reply #13 on:** June 24, 2009, 10:33:48 AM »

if the mold is in the basement, than there is a chance you have a big problem within the concrete foundation, walls or floor. and that can be very exspencive to fix. like highroller said the best bet is to get an inspector

CSaddict · « **Reply #14 on:** June 24, 2009, 11:01:05 AM »

Quote from: hatrack48 on June 24, 2009, 10:33:48 AM

if the mold is in the basement, than there is a chance you have a big problem within the concrete foundation, walls or floor. and that can be very exspencive to fix. like highroller said the best bet is to get an inspector

.

I agree with the foundation statement unless you identify the way water is getting in ie: broken or leaking plumbing, leaking hatchway or other.

I would even think to purchase a home with a large mold issue.

97Econobox · « **Reply #15 on:** June 24, 2009, 11:27:39 AM »

Quote from: CSaddict on June 24, 2009, 11:01:05 AM

Quote from: hatrack48 on June 24, 2009, 10:33:48 AM
if the mold is in the basement, than there is a chance you have a big problem within the concrete foundation, walls or floor. and that can be very exspencive to fix. like highroller said the best bet is to get an inspector
.

I agree with the foundation statement unless you identify the way water is getting in ie: broken or leaking plumbing, leaking hatchway or other.

I would even think to purchase a home with a large mold issue.

Biggest Deal Breakers for me : Foundation, mold, Location (roll through at night, and roll through when its hot as hell if you can, Some citys like to hide there dumps but you can smell em when the huimity raises. uh yo) Jacklegg ass Home Modifications.

1991civicsi · « **Reply #16 on:** June 24, 2009, 11:37:50 AM »

Lol @ " it has a great driveway"

Tim · « **Reply #17 on:** June 24, 2009, 11:42:49 AM »

fuck mold

dvst8r · « **Reply #18 on:** June 24, 2009, 03:29:29 PM »

Quote from: 1991civicsi on June 24, 2009, 11:37:50 AM

Lol @ " it has a great driveway"

LOL it's kinda like she has a great personality.

stealthiskey · « **Reply #19 on:** June 24, 2009, 07:50:53 PM »

lol
i guess it sounds dumb, but the driveway like wraps behind the house and basically becomes like a parking lot. I could do donuts in it. Or buy like 6 cars...

Some solid advice in here, thanks! I'm definitely concerned about just how much damage the mold has done. Sent an inquiry to http://www.advancemoldenv.com/ although on their site it says toxic mold does not grow on concrete. I'd definitely want to take one of them (mold expert) along for the home inspection or whatever to get a better idea of the damage.

Other than that I'd immediately need to replace carpets in at least one of the bedrooms, and completely renovate one of the bathrooms, and replace some stuff in the kitchen.

It will be a shit ton of work, and it will still be an old ugly house when it's done, but I've been looking at the numbers and it seems the way to turn the biggest profit on real estate is to buy something shitty for a small loan with a big down payment and flip it and sell it within a few years for a modest price.

I'm not totally convinced on the idea though, it's just tempting. Gonna go check out some more places this weekend. Problem is that my price range in Annapolis means all these houses will be some degree of shitty. Anybody in Maryland know anything about Upper Marlboro?

Stealthmode · « **Reply #20 on:** June 24, 2009, 09:35:48 PM »

If you need a guy to tell you there's mold there, you aren't the kind to renovate anything except your debt to income ratio.

darkelvis · « **Reply #21 on:** June 24, 2009, 11:40:48 PM »

mold=bad.....

just needs a little work will turn into.... http://www.mensalmanac.com/zerothread?id=13425

imburne · « **Reply #22 on:** June 25, 2009, 05:57:14 AM »

Damn I am jealous. That house is worth 7 billion in california.

junkyard racer · « **Reply #23 on:** June 25, 2009, 08:00:56 AM »

Quote from: patsmx5 on June 24, 2009, 08:03:56 AM

If you find a house that you're seriously considering purchasing, hire a house inspector to go over the place. For like 500 bucks, you'll get a report on all kinds of shit, and know what you've got and what's wrong. Almost always, you can use the report to point out weak spots of the house at the negotiating table, and save more than enough money to cover the cost of the inpsection.

My dad's a contractor, so I know a little bit about buying/fixing/selling houses. We only buy dumpy houses that appear to need to be torn down. You have to know what to look for, and what matters. Last few houses we bought were 20K, 12.5K, and 15K, being a 1400, 3200, and 2000 sq*ft house respectively.

I had 3 inspections done on my house, and they did absolutely nothing for me. In fact, I called one guy back out to my house and made him refund the $350 he charged me.

imburne, nothing has value in Cali.

but yeah, like someone else said, if you are having someone come out to tell you that you have mold, you probably are getting in way over your head.

stealthiskey · « **Reply #24 on:** June 25, 2009, 08:33:43 AM »

It's pretty obvious the mold is there, I'm just worried that after ripping into it I'll find that the entire foundation/frame of the house is too far gone and the whole place needs to be torn down. Cuz that would suck. Can mold completely destroy a house?

Quote from: darkelvis on June 24, 2009, 11:40:48 PM

mold=bad.....

just needs a little work will turn into.... http://www.mensalmanac.com/zerothread?id=13425

That would be about a million dollars around here, more depending on neighborhood.

HiProfile · « **Reply #25 on:** June 26, 2009, 02:11:12 AM »

Quote from: highroller54 on June 23, 2009, 11:34:20 PM

Get someone (pro) to check that mold out, than can be huge$$$$$$$$$$$$$$$ and if done wrong can fuck up your health for life.

Funny thing is if you read the not-for-profit websites about mold, all you really have to do is clean all hard surfaces with regular deturgent, toss out any soft/porous materials, and obviously fix the water issue. Removing the moisture is the most important. You can dump a metric ton of mold spores in a house, but if there's no moisture to grow, it will NOT grow. If it can't grow, it can't release the mycotoxins. That's what are bad for people, not a spore sitting on the wall. Spores themselves are only an issue if you breathe in a lot because you were too lazy to get a mask.

In the end, it's usually the roof or basement/foundation that cause water issues, neither are a cheap fix. Mold is a manifestation of another problem, not a single problem. Get something that you can fix & make money on. Some people don't work >40 hrs because they know working on their house is an investment.

Just like a wife, don't marry the first house you get inside.

Urban Indian · « **Reply #26 on:** June 26, 2009, 03:04:14 AM »

Get a fucking home inspection. Must he Caphi certified( or equivalent)

/ of this motherfucking thread

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Author Topic: Buying a shitty house (Read 4313 times)

junkyard racer

junkyard racer