Methamphetamines anyone?

General Real Estate Investing
1

I’ve never dealt with a meth house before. The owners were renting it prior and found out about it after the old tenants moved out and the new buyers did an inspection. The owners have hired a company that is currently cleaning it up. The clean-up company said it wasn’t as bad as they have seen. It was mostly just in the garage and only 30% above regulation. The clean-up company says they typically see it 600% above regulation.

So, how do I go about handling this? Its a pretty good deal, if it can get cleaned up properly. With the owners hiring a company to do the clean-up, I would think it would be done properly. What long-term health affects are to be considered? Once it has been cleaned-up, does it have to be disclosed in the future on sales and rentals? Anything else to know? Thanks.

Dean

2

Dean,

Whether you must disclose it or not depends on your state/local law. Are you buying it to flip or rent? If it’s cleaned up properly, I wouldn’t worry about it for a rental.

Mike

3

Actually, I’m considering buying it to live in. Its a good price, just down the street from the elementary school and the right size for my small family. I’m about 50/50 on living in it or renting. Renting is pushing it to cover costs, especially taking out an investment mortgage. Seller financing is better, but more along the break even line at that point. I’m in Utah, by the way.

Dean