Hard Lesson For a Real Estate Investor Who Bought a “Meth House”

[Corey Dutton]

Most real estate investors are requiring meth tests on a house before buying it. Once a property is declared a “meth house,” most buyers will flee. However, some real estate investors voluntarily take these houses because they know how to get rid of the traces of meth in them. Make sure you know what you’re doing when you take on one of these houses. Here is a lesson from a real estate investor who bought one of these meth houses.

It was back in August of 2012 and Teddy Jamison knew the house he was buying had a history of meth. The realtor said he could have someone remove the meth inside the house for a good price. So Teddy bought it and spent $2,500 to clean it. Teddy did not have any experience with meth properties at that time. After all of the rehab on the house was completed, the meth was removed, and the property went under contract. Unfortunately the buyer’s inspection came back positive for meth. Of course the realtor said he was not responsible, the meth cleaner that Teddy hired also said he was not responsible. So Teddy lost the buyer and ended up spending another $5,000 to hire a licensed guy to remove the meth again.