What if Someone Died a Violent Death in Your Rehab?
Some of your best deals can be found in Probate Courts. So the question today was: How successful can I be at reselling a rehabbed house where someone committed suicide?
The answer is: Not to successful. There is now a stigma at that property...the neighbors will always know that property as the house where someone killed themselves.
The next question? "How to make money with this property?"
The answer: "Time".
You can find great deals with probate properties, but if there is some tragedy associated with it, then you must know it will take time for that stigma to disappear.
It is best to buy and hold that property for cash flow and appreciation! After 5 years or so, then sell, sell, sell!
Comments (1)
very true Jean. There was a house a couple years ago that our company had. The land contract buyer was executed in the early morning one day. It made headlines and was a big case for a while. We ended up selling it quickly for about what we paid for it. It was a great house until that happened. The sad part is the woman left behind two young kids and last I checked the case was still unsolved.
Kevin Kaczmarek, over 12 years ago