Site Navigation

Investor Information
 Home
 Monthly Update
 Real Estate Articles
 Real Estate Videos
 Real Estate Success Stories
 Real Estate Blog
 Free Investing Books, Audios
 Real Estate Books
 Investing Glossary
 Investing Abbreviations

Real Estate Products
 No Risk Guarantee
 Best Sellers
 All Investing Products
 Real Estate Courses
 Real Estate Audios
 Real Estate Ebooks
 Real Estate Books
 Real Estate Seminars
 Real Estate Games
 Special Offers

Investor Resources
 Hard Money Lenders
 Real Estate Agents
 Handyman Services
 Real Estate Clubs
 Cashflow 101 Clubs
 Business Tools
 Tax Appraisal Districts
 State Property Codes
 State Foreclosure Laws
 Proof of Funds Letter

Discussion Forums
 Networking Forum
 Beginners, Carlton Sheets
 Bird Dogs, Wholesaling
 Foreclosures, Short Sales
 Sub2, Lease Options
 Rehabbing, Landlording
 Financing, Hard Money
 Asset Protection, Legal
 Commercial, Mobile Homes
 Real Estate Marketing
 Random Ramblings

Site Information
 About Us
 Advertise on REIClub
 Contact REIClub
 Link to REIClub
 REIClub Facebook
 REIClub Twitter
 REIClub YouTube
 REIClub Testimonials



Learn Wholesaling
CD's Plus Transcripts
Click Here Now!

--------------------------
REO Experts
Reveal Their Secrets
Click Here Now!


Welcome, Guest. Please login or register.
Did you miss your activation email?
May 25, 2012, 06:49:44 PM

Home Help Search Calendar Login Register
Free Monthly Update
Name:
Email:
Click Here to Register for the Discussion Forums
Real Estate Investing Forums  |  Real Estate Investing  |  Rehabbing, Landlording Forum (Moderators: $Cash$, Bluemoon06, kdhastedt, Mdhaas, motivatedceo)  |  Topic: Anyone have problems renting a house with a positive Lead Based Paint test? « previous next »
Pages: [1]
Print
Author Topic: Anyone have problems renting a house with a positive Lead Based Paint test?  (Read 849 times)
justin0419
Member
*****
Offline Offline

Posts: 2120


WWW
« on: October 07, 2009, 10:27:51 PM »

We're getting a house that needs fairly extensive rehab.  It's a HUD home.  They got a LBP test on it and it came back positive.  The XRF readings range from 1.3 to 6.9.  I searched around and found that anything above 1.0 mg/cm2 is considered a positive return in their eyes.  I have no idea how bad you would consider 6.9.  The house will be completely repainted by the time we're done with it so the LBP will be encapsulated and there shouldn't be any real risk after that's completed.  On most houses, the seller hasn't done a test and so the LBP disclosure just says the seller has no knowledge of LBP, etc.  I'm just wondering if this positive test result is going to be like a scarlet letter for this property causing me to have problems renting it (especially w/ sect. 8)?  Anyone have experience with this? 
Report to moderator   Logged

If you like rock music, check out www.Lynamsucks.com
New Live CD is out.  Titled "Thank you, Good-night"
StreetCopMillionaire
Member
*
Offline Offline

Posts: 27



WWW
« Reply #1 on: October 07, 2009, 11:05:30 PM »

I've never had one positive, and I hope you're getting one helluva deal on the house!!

Please post how this works out as I'd love to know the results of this one!!  Course my guess is unless your tenants have small kiddos it won't really matter too much...would still love to learn from your experience on this in case I ever have to deal with it from that end!!  Good luck!
Report to moderator   Logged

Jason B. Simpson
Get your FREE 12 Part Mini E-Course
on Real Estate Investing at:
http://www.StreetCopMillionaire.com
J.S.P.
Member
*
Offline Offline

Posts: 16


« Reply #2 on: October 07, 2009, 11:11:02 PM »

This ... Is bad, considering you know it can't be a "good" thing.

I would seriously consider using this situation to drop your offer even more, remove all paint and/or the drywall itself, and then re-test the unit after rehabbing the property.  I have seen insurers who will NOT get you a policy on a unit with a positive, but remediated LBP test.  I also know two property managers that will not touch a house that has a positive LBP test.

If you intend to take this section 8, I don't think you can get the unit cleared even with repainting remediation, and I am not familiar with section 8 ever making a payment on a prop with a positive LBP test.  Furthermore, the lead-based paint is actually an enviromental hazard for your work crew fixing the place - considering this requires "major" work.

Legally, it puts a requirement on you to disclose that you know the paint is "present but remediated", and gives you tenants a reason NOT to rent the unit.  That is bad for marketing your property regardless of the regulations involved.  As a tenant... If I saw a positive LBP test... I wouldn't rent the place.  Is it a scarlet letter?  I can't answer that for the rest of the world... but as for Me personally - it would be.
Report to moderator   Logged
justin0419
Member
*****
Offline Offline

Posts: 2120


WWW
« Reply #3 on: October 09, 2009, 12:23:01 AM »

I talked to our local sect. 8 inspector today.  He said even though it has a positive test result, as long as everything is painted over and there's no peeling paint it passes the inspection criteria.  In my area, if you don't rent to sect. 8 you're SEVERELY limiting your options for renters. 
Report to moderator   Logged

If you like rock music, check out www.Lynamsucks.com
New Live CD is out.  Titled "Thank you, Good-night"
tatertot
Member
*****
Offline Offline

Posts: 1457


« Reply #4 on: October 09, 2009, 11:23:38 AM »

Get it tested again after it is remediated and give a copy of the new test with your lead disclosures.

Be aware that the soil around the house might very well be contaminated, also, and that would be an expensive fix. However, not as expensive as a lawsuit from a parent who had a child test positive and then was able to get a high lead count from the soil in the yard the kid was playing in.
Report to moderator   Logged
Gold River
Member
*****
Offline Offline

Posts: 1385


« Reply #5 on: October 09, 2009, 11:38:03 PM »

Hi,

    The truth of the matter is that every home built before 1978 probable has been painted on the interior and exterior with lead based paint.

Encapsulation is the generally excepted method for remediation, which simple means all original paint has been painted over and sealed within a new coat of modern paint.

FYI

Accoustical Ceilings installed prior to 1975 may in fact contain asbestos!

Vynal floor tiles (12" x 12") manufactured prior to 1975 may in fact contain asbestos fibers as part of the manufacturing contents!

Sheet vynal manufactured prior to 1975 may in fact contain asbestos as a manufacturing contents!

Vynal flooring adhesive manufactured prior to 1975 may in fact have asbestos fibers as part of the manufacturing contents!

Commercial Ceiling tiles (2' x 4') in suspended metal frames installed prior to 1975 may in fact contain asbestos within those tiles!

Some tile mastics and thin set manufactured prior to 1975 may in fact contain asbestos fibers which were used as a strenghtening additive!

Asbestos was used as a insulator in hvac, water and steam piping wrapping installed prior to 1975!

Asbestos was used in some roofing materials as a strenghtening additive prior to 1975!

Lead was used in the making of waste and drain connections in some properties built before 1975!

Lead was used in solder used to connect copper piping prior to 1975!

Asbestos was used in the manufacturing of 3 tab roofing shingles prior to 1975!

Asbestos siding in the form of tiles or strips were manufactured up through 1975!

Asbestos was used in adhesive used for formica counters up till 1975!

       
                            GR

Report to moderator   Logged
justin0419
Member
*****
Offline Offline

Posts: 2120


WWW
« Reply #6 on: October 09, 2009, 11:43:43 PM »

GR,
Good info.  Yeah, people who do a little research would understand that.  I was just wondering if some of the not so smart applicants would realize that too.  I'm sure there are tons of houses here in the exact same situation, but no one tested them.  I plan on doing a full paint job and full disclosure of that test.  I'll also have before/after pictures.  When I do the LBP disclosure form with the tenant, I'll give them a copy of the test results and make them initial mine so I'll have it on file they were provided the report.  I do feel a lot better knowing I can still rent it under sect. 8 here.
Report to moderator   Logged

If you like rock music, check out www.Lynamsucks.com
New Live CD is out.  Titled "Thank you, Good-night"
BLL
Member
*****
Offline Offline

Posts: 2015


« Reply #7 on: October 10, 2009, 12:22:06 AM »

This is state issue. Some states require all rental units to be deleaded or you can't evict. Some states require deleaded units if children under 6 will reside there. Some housing authorities require deleaded units for Section 8.
Report to moderator   Logged
Nick Brian
Member
***
Offline Offline

Posts: 181


WWW
« Reply #8 on: October 10, 2009, 09:48:55 AM »

I heard it while I was in Miami. But in Capitola or Rio Del Mar it's not heard. I hope to know how it ends in your area.
Report to moderator   Logged

tatertot
Member
*****
Offline Offline

Posts: 1457


« Reply #9 on: October 10, 2009, 11:38:40 AM »

[[[[[.....Some states require all rental units to be deleaded or you can't evict.....]]]]]

Got to love that government logic. In their wisdom, they decide that the house is very dangerous, so their solution is to make it so the tenant with children can live there forever.
Report to moderator   Logged
Pages: [1]
Print 
Real Estate Investing Forums  |  Real Estate Investing  |  Rehabbing, Landlording Forum (Moderators: $Cash$, Bluemoon06, kdhastedt, Mdhaas, motivatedceo)  |  Topic: Anyone have problems renting a house with a positive Lead Based Paint test? « previous next »
Jump to:  



Login with username, password and session length

Powered by SMF 1.1.8 | SMF © 2006-2012, Simple Machines LLC

 
Anti-Spam Policy | Compensation Disclosure | DMCA Notice | Earnings Disclaimer | External Links Policy | Privacy Policy | Terms And Conditions | View Cart
©2002-2012 All Rights Reserved. REIClub.com