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, thanks to my mentor Cliff Gager, “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. Best to buy and hold that property for cash flow and appreciation! After 5 years or so, then sell, sell, sell! Thanks Cliff!