Marijuana And your Property Investment

 

It is the same in most western developed countries where police have told landlords to be aware of illegal drug set-ups in their property investment leases. Rental properties are increasingly being used en mass by individuals and syndicates to grow pot of high quality and in abundance, often farming crops every 12 weeks.

During a large drug bust in Australia in late 2010, police executed 74 search warrants across the state of Victoria, taking ownership of more than 9000 cannabis plants. A large number of individuals were charged with drug-related offences as a result of the raids.

Although stating the obvious, police said that 58 of the 68 houses raided were leases. When landlords were contacted, law enforcement found most of them were unaware of the illegal activity going on at their home. Most homeowners were found to be trusting and had advertised for tenants via newspaper advertising campaigns and in shop windows. Consequently, their home investment rental agreements were more often than not, a piece of paper, handwritten and of little legal size, despite full legal documentation being readily available on the internet.

Image result for Weed Store

Rental investment property in these instances are leased for the expressed function of growing 'dope' and sometimes every room in the house has hydroponic growing equipment, including reflective sheeting on the walls, a full lighting set up, watering system and ac and an exhaust system to diffuse the heavy smell of maturation sprouts.

'Crop sitters' can be paid thousands of Weed edibles for sale online a week to tend the crops and tenants were known to offer months and months of rent in advance and would pay each rent amount due, on time, Unfortunately when the tenant leaves, home owners would often find a house with carpet missing, new walls, water damage and a tampered with electrical system.

In every property investment rental, landlords need to formalise rental agreements and have why these were offered such a large n amount of money in advance.

Operation Thing, as the Victorian drug operation was called, was responsible for 30 people facing the judge on various criminal and drug related charges, but take note that in one house south of the city, police found more than 400 dope plants, growing in 11 rooms in a two story home!

Is your Property Investment Rental A Drug House?

After reading an article mentioning this property investment rental problem, it got me thinking. Firstly it got me thinking of one of the properties I purchased and also of the potential involving more 'drug houses'. If you own a drug house, then that's another problem and I hope you get out of it inexpensively and quickly, but one of the first houses I added to my property investment collection was an ex-hydroponic dope house.

The owners were at their wits' end and decided to sell rather than spend the money required to fix the house. The house was a multitude, inside and out, especially since the guard dog had eaten parts of the medial side fencing and the main window frames because of the glass. It must have been devastating for the owners to see what was their house at one time, reduced to the state it was in, just before I aquired it. For me, this became to be able to add value to my property investment collection.

Benefits of Buying a Dope House As a Property Investment

The immediate selling point of a property of this nature that's for sale, is the price.
The second is the motivation of the vendor, who is often at the end of their tether.
The third is that the alterations created by the dope prop can be easily rectified, such as with many restorations.
The fourth is, the houses often look far worse than they are.
Lastly, the social stigma of the property's sordid past can drive potential buyers away.

Dangers involving a Dope House As a Property Investment

Walls -- sometimes additions have been made and can be constructed out of any material, including asbestos, so be sure to check the character of the walls. Most often they can be removed easily, but there may be cases where that extra room is perfect to add value, so assess the benefit as well as the professionalism and reliability of the know how. If you are going to remove any wall, just check it's not load having.

Domestic plumbing -- have a qualified plumber check your conduits and the mains. Often water had been diverted to the harvest rooms and the main had been modified to register a lesser reading.

Electrics -- have a qualified electrician execute a thorough pre purchase check and quote on the work required to lso are cord the house back to normal. All professional hydroponic setups have adjusted the electrical wiring, often with amateur and dangerous results.

Ceilings & Roof Hole -- per electrical wiring, check the top of threshold space carefully. Ceilings will have holes drilled into them for extra water conduits and for heavy-duty hooks to carry the weight of the hydroponic lights, so expect some plastering work. This applies also to how the prop have attached any reflective sheeting to the walls.

Police -- if they are not aware already, inform them that you have bought the house and what you intend to do with it over what time period. You don't want surprise visit from the drug team in the future, especially not an television one.

What I found In my Property Investment Dope House

I think I may have got out of the worst of the problems associated with buying property investment dope houses, but each one really needs to be examined on its merits, like any other purchase. You just need to be aware beforehand of the probability of certain problems associated with drug crops. Please note though, I am discussing pot growing and not drug laboratories. I have only one thing to say about houses that were meth labs and that is "Don't Go There! inch

What I found were live wires in the roof hole, power lso are put together at the meter box, water conduits through the threshold and roof, the water main had been tampered with, ceilings full of holes and some walls that must be re-plastered. Unfortunately, I didn't find a deposit of either dope or money hidden away in a roof or underground hole. I looked! Thinking about some whacked out 'doper' leaving $50k stashed under the floorboards was on my mind for the first 3 weeks of the reno!

Property Investment Buyers' Ethos

From the a chap describing his theory on required research for his property investment collection and that was inch There are plenty of ways to skin a cat" and although that saying may be a little outdated, the philosophy and meaning behind it remains.