A craft...um that`s a interesting way to describe it. I just assuumed that there would be a little more to it then that. I know it takes a number of years for an apprasier to become licensed & thought there was a "science" behind their calculations. I was obviously wrong. :>) Doug

There seems to be some flexibility at the Appraisers discrection. If the bank tells them our client is looking to borrow X amount of dollars I`m told the the Appraiser will try to accomadate. This does not sound like an exact science to me. Doug

Mark is right. You need the winning attitude to suceed. Being in the building & property maintenane bussiness for over 25 years you need this attitude. Property Mangers are a great source of income. You need to service the heck out of them. When they call for emergency service night or day you...

Once again, Thank You! for all your help. Doug

If a property apprasies for more $$ then the purchase price ,why will the bank only use the purchase price for loan calculating? Yet if you were to re finance at some point the bank would then use the apprasied value for calculating the loan amount. I hope my question is clear & I apoligise in...

Thank You! :>) Doug

Could someone please explain to me Cap Rates? How are they calculated? Whats good & whats not & what should be our goal. Thanking everyone in advance! Doug

Looks to me you have a plumbing leak in the crawl space. I first thought it was humidity but the water drip is only on the one pipe. The green on the copper pipe is a good indication of a leak. If you have any mold in the crawl space it`s minor. Fix the plumbing leak. Install a interior weeping...

Phil, You could call up a restoration contractor in your area they`ll have them. The multi-level guys had to stop selling them as they can be harmful to humans & pets. Some motels will use them to rid rooms of smoke smell. Doug

Ozone will do the trick. As a restoration contractor we do this all the time. Doug

As a mold remediation contractor what you have described is quite common & repairable. Look for a IICRC certified firm in your area to provide you an estimate. Dry ice blasting for the attic & installation of a 10-12 mil encapsalation liner in the crawl space would be my reccomendation.Think...

Mold remediation in itself is not covered under most Insurance policies. Mold as a result of an insured loss MAY be covered to a set $$ limit. Either way make sure you have a air quality test done to prove to the tenants the area is safe to return. It`ll save you head aches in the future. Doug

Hi Kathi, Just out of curiosity did you have a remediation company do the work? Did you have a certificate of clearance issued by a Industrial Hygienist? Doug

You`ll have to look for private money. My lawyer has been a good source. He only finances for us because he knows we can remediate. He refers us to his clients.You`ll have to convince the money lender your capable & you`ll pay higher interest for sure. Once the property has been cleaned up you...

Just out of curiosity , what is the purpose/benefit/reason for registering your properties with REIN? Doug

It may be less expensive in the long run to hire an inspector who has moisture probes and thermal imaging as to tearing out building material to explore. Doug

Do your tenants have a small grow op? :>) Doug

QUOTE (LAndersen @ Jun 15 2010, 11:28 PM) Thanks so much. How did your customer go about getting title insurance to help? She had her lawyer call them & explain the situation. They made her jump through a couple hoops but did come through. Doug

I had a customer who had water seepage through the foundation that eventually caused a mould situation. Insurance company didn`t cover it. The Title Insurance did as the previous owners did not get the required permits or inspections for the addition. Remediation costs were $ 30,000.00 plus Doug

Do you have a sump pump? Sometimes you can convince the Insurance Co that though it was ground water the water flow was so great that the sump pump failed to keep up. Check out www.cdrg.ca & see if they have a member in your area. A restoration/remediation company specializing in water & mould...