To buy Meth or Not to buy Meth...

[Adrienne Donner]

We are looking at our first flip. The previous buyer blacked out after the house tested positive for meth.

After speaking with a remediation expert in the area it seems that even with that cost this flip is a good buy.

Has anyone else ever fixed a meth house. Does your state require you to disclose it at the sale and or to tenants?

Anything else I need to worry about with this?

TIA!

[Eric Gardiner]

@Adrienne Donner Hi Adrienne, I sold an apartment I owned in Salt Lake City that tested positive for meth. The first contract fell apart because it tested positive. I then remediated it and relisted and it sold quickly. Once it is remediated no one cares. You do need to disclose this but also discuss remediation in the seller disclosure. 

As long as the cost of remediation works into your flip budget I say go for it. Your realtor should be able to advise you on this.

Let me know if you have more questions.