Those who are familiar with me know that I teach an EPA based mold inspection class as well as that I am certified to teach the lead- based paint RRP renovator course. Not only do I do this in my live trainings at your REIA clubs as well as Metrolina and North Metro REIA, but it is also in my SWAT home training courses so you can get it without any wait time.
Fast becoming one of my most requested classes, the mold inspection course allows you to be qualified to test properties for molds, toxins, allergens, bacteria, radon and even meth contamination etc. Furthermore, no matter if you choose to do it at home by investing in my SWAT courses or see me live, you receive a certificate of completion after passing a test proving your expertise in mold.
Mold Is Everywhere
The reason why I started using this as a major strategy in my real estate arsenal is simply this…Every room ever tested shows mold as well as many other elements in the air. The training course gives you the knowledge to test properties (I only suggest vacant bank owned properties) and use this as leverage to get about a 25% discount on the purchase price of your deal.
Without explaining the whole course which takes hours, let me sum it up for you as simply as I can. There are only two ways that a mold test can come back from a lab. One is ELEVATED and the other is NON-ELEVATED. In the live training as well as the SWAT home course you will be taught the types of mold, if they are toxic molds, how to do mold clean up as well as remediation will be explained to you. However so there is no mis-understanding, this course is mold inspection, not remediation. We don’t want to do remediation just clean up.
How It Works
The process works like this. I qualify you to use an air testing machine that collects air samples that are sent in to an independent lab for analysis. There is no conflict of interest or liability on your part because all you do is collect the sample. And you are qualified to do that. The independent lab then sends you a report sometimes listing up to 10 or 15 types of molds, toxins allergens etc. It will also mention that these molds have been known to cause illness in some cases and they recommend (not require) remediation.
The Process
Here is the step by step, but keep in mind, you can’t do this without the course being completed as then you have no qualification and it becomes just your opinion.
First you take my mold inspection course either live or from my SWAT courses. Then find a vacant bank owned house and make a reasonable offer to get your foot in the door. In your offer ask for a 10 day inspection period for rehab estimates and such. During this time is when you so your air sample collection and send to the lab. This costs about $40 to test and you overnight the sample and ask the lab return the results by e-mail. Once the property has been declared elevated, you seek a mold remediation estimate to remediate the kitchen. The kitchen is where I always test because it gives the highest estimate.
Now I re-submit my offer to the bank MINUS the amount of the mold remediation estimate. I supply the bank with the estimate as well as the mold test to back up my lower offer. Now get this cause this is the secret…The bank now has to sell you the property for your price or huge discount OR they by law must disclose a copy of the mold estimate and the lab test to all who have made offers and all new offers coming in. The banks do not want to advertise they have a mold problem that may cause illness to someone.
So they choose most often to sell to you. Then instead of remediation, my class teaches you mold CLEAN-UP so you can clean the kitchen area and re-test. Send in the test after the mold clean up it then comes back non-elevated. So you got your huge discount and a non-elevated test that you now can disclose saying you tested for mold and here are the non elevated results.
Summing It Up
Well there it is in as simple as I can explain, but please do not try this without coming to the class first! You can increase your profit by an average of 20K using this technique. You can also use your certificate to get a license to do this as a business for another income stream charging $250 to $350 per test. Remember you can also do this at home with my major SWAT rehab course at PeteYoungs.com