Mold is Gold – The $100k Profit Project in Chicago

Join me as I outline what happened with the Mold property in Chicago, and how I realized a sweet $100k profit!

I had no idea mold existed in this property until after I made the offer.  The seller came back to me after I made my offer stating that mold existed in the unit. So I merely reduced my offer by $12,000, thinking that would cover the mold costs.

Come to find out the mold was much worse than they alluded to in our conversations.  Anyone that entered had to sign a “hold harmless” release. The mold permeated so much of the property I hired an official mold remediation specialist to ensure mold was removed and wasn’t to come back.

As it turned out, this was a result of a broken pipe between the first and second floor.  The flooding affected the basement, the first floor and mold spores were found in the ambient air.

The outcome was incredible, and highly profitable.