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Updated 4 months ago on . Most recent reply

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Noah Applegate
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9
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First flip, meth contaminated

Noah Applegate
Posted

Help, I purchased a townhome from a wholesaler.  I found out after the purchase that it was a frequented drug house.  Tenants told me seller had tried to sell to investors before but after meth test came back positive they were going to drop the price significantly.  I have not had the chance to test it for meth myself, but All things are pointing to math contamination.  This was not disclosed to me before the purchase and now I'm finding myself in a situation that could end in serious financial harm to myself.  Do I have any reports with the wholesaler or owner of the house?  Can I "u buy" the house?  

This is my first flip and I'm using a heloc on my own primary to fund the project.  

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Chris Seveney
  • Investor
  • Virginia
15,283
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Chris Seveney
  • Investor
  • Virginia
ModeratorReplied

@Noah Applegate

Depends on the state you are in and did you get any disclosures before buying the property? How many properties have you bought in the past? This seems like your first one.

You can sue but you u are gonna spend just as much on legal going after the wholesaler or owner and most likely they have no money anyways so you are chasing a ghost.

Unfortunately this happens and this is why you should also follow your checklist and not take shortcuts when buying a property

  • Chris Seveney
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7e investments
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16 Reviews

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