house I viewed yesterday
I noticed a house on the crescent behind us for sale so I called and arranged for a viewing yesterday. The landscaping looked as though it hadn't been touched in a couple years but otherwise a nice looking home.
The kicker is that it was busted by the police last month as a grow-op! Crazy that kind of thing going on right in our community. The interior of the house was a bit of a wreck. Holes in the walls, water damage and really dirty. A lot of work and money to get it back up to par. But the basement was something to see. Extremely humid and still a slight smell of the plants that were once there. Not to mention enough electricity to power a small town. Might be a good house to flip. I'm thinking about it. |
Could also be a good occasion to get into rental properties.
You should be able to get it pretty cheap because of the background, but you need to be careful with houses previously used as grow ups, the humidity where they do the grow can do a lot of damage to the house. |
how much were they asking ?
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The price is crazy, Got any pics of the property?
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I have one on my iPhone, I'll have to upload it just to show you.
It's a nice house in a nice area, but damn it needs a lot of work, and I'd really be curious to know how much water or humidity damage there is. |
that's crazy ... A freind of mine bought one of those grow houses a few years back at more then half of what it was worth. The damage that the humidity and smell do is enormous. She had mentioned to me that the foundation was very damamged due to the high humidity level .. so tread lightly.
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I thought the day of flipping houses was long over.....
Here where I live in Northern California about one fourth of the houses are in foreclosure or are otherwise empty. It's very sad really. I am however looking to buy some myself here shortly. There's an entire complex of condos that was completed, but the company went out of business before they sold a unit. It's now owned by a bank. I'm guessing I can get them cheap..... |
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lowball him
couldnt hurt as for whether or not now is a good time...now is a great time...housing prices plummeted, some forclosures, get a good deal, and RENT...then flip it as you go... |
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But like CN said, the market is pretty good up north here right now. It's definitely a seller's market in my area. |
Grow ups = toxic mold due to all the humidity used for the plants. I would extremely low ball em and make them pay to have the place tested and decontaminated.
In BC it is now law that any person selling a house diclose if it was used as a grow house. |
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the house Chris saw will not get sold at that price or even remotely close to that price. Housing market boom is over: Analyst say |
Chris as someone who flips houses on a regular basis.
DONT GO NEAR IT. The Prov and Feds steps in and will place all kinds of air quality test and restrictions on the sale and drive you nuts. Banks wont ouch it for the buyer or seller and I know a guy gutting one of these right now. He is a home developer and still will take a large loss. Feel free to give me a call on this one if you like. But my direct advice is run away. |
I'm amazed the house wasn't confiscated. In the US if you are found with drugs in your car, they can take your car. If you are growing or dealing in your home, they can take the home.
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buy it
insure it burn it old skool |
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That's only thing it's good for! :laughout: |
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only thing i can tell you is that it is much more work that it seems
Hell, i am not even near done with mine and i bought it 15 months ago How is the market in Canada? |
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