All Forum Posts by: Andy M.

I've been a part of this event in the past and it was top notch. This years event will be even better. With it being virtual this year truly the only cost to attend is your time, and you might win $1,000 from Lending Home. This one is a no-brainer. Looking forward to this years speakers. 

Hey @Brock Wiberg that's a good question. I think the square footage of the "infected" property is the primary driver of cost, but I do think that the contamination level plays into it as well. It has been my experience that with a 2000 SF home I'm generally looking around 4-6k to remediate, then of course you have to clean up the meth remediation company's mess as well. My advice is to test it early so that if you have to remediate you can save yourself the cost of redoing work after the cleanup company. 

Are you on my New Mexico buyer's list? If you aren't, you definitely should be. Shoot me a private message and we will get it worked out. 

Lol @Douglas Larson that's what we were all thinking after the fact. Makes me wonder how long they have been evading the authorities. I also wonder where they landed. It might be New Mexico. 

Hey @Ryan Dossey, we did disclose it to the new buyers, and since it was professionally remediated and below the legal limit they weren't scared of it. I don't think you legally have to disclose it if it has been remediated, but I think morally you should. Good question. 

I think a lot of people are really really scared of meth houses, but they really shouldn't be. It's just like any other repair, time and money. 

I've flipped a lot of houses that had meth contamination in them, but this one took the cake. In hindsight, it's pretty obvious that these sellers were dealers... and as it turns out cookers as well (is that even a word...?) Anyway, for anyone who has ever been scared to flip a meth lab I hope this 6 minute video takes away that fear. 

https://youtu.be/NlpRLyabMgQ

Spoiler Alert! For those of you who want to skip the entertaining 6 minute video, this house tested higher than I have EVER seen before, but I had it professionally remediated and still made a 40k net profit on it. Tip of the day: If you suspect that the house has meth contamination, get it tested EARLY in the process, it will save you time, headache (no pun intended), and money. Enjoy. :)

Meth is definitely some serious stuff. If you think it might have been used (hopefully not cooked...) in the house then you should absolutely get it tested. Testing isn't that hard or expensive. Once you know the levels in the house then you can take it from there. Here is a story of a METH LAB that I flipped, I'm talking EXTREMELY high levels of meth because they were cooking it and selling it out of the house. It cost me 10k total to pay for the remediation and the damage that they did to remediate it, so all in all it wasn't that big of a deal. If a pictures worth a thousand words, then what is a video worth? I'd love to hear what you guys think about it.  https://youtu.be/NlpRLyabMgQ

November 19th would work for me. I'd love to meet some Utah BP people in person, plus I'm always looking for an opportunity to mingle with @Jeff Rappaport and @Jeffrey S. Breglio is a buddy too. It's been too long! :)

Thanks @George P. I appreciate it. Hope it gave you a good idea to use in the future when wholesalers want too much. ;)

Anyone ever find that wholesalers want to much for their property? I recently did a win-win transaction with a wholesaler even though he wanted 10k more than I was willing to pay for the property on the front end. Check out my creative solution. :)

https://youtu.be/jaV4naZGjCM

@Tyler E. Your comment makes the thread worth it! It's good to hear all of the pros and cons of different investment types so you can make an informed decision. Sounds like some people have had some good experiences with condo's as rentals, but overall there are a lot of cons. Even though I hate condo's as rentals, I still had a good experience with my condo. I knew what I was getting into when I bought it. It was a straight cash flow and appreciation play but I hit the eject button ASAP. It worked out for me, but I wouldn't buy one looking at it as a long term hold.