A Descent Into The "Hell House" (Mindset)


Manage episode 296986334 series 2820712
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Delving into real estate can undoubtedly be a stressful undertaking, but every once in a while, buyers and investors come across a situation that sends a chill up their spine. Enter the "Colorado Hell House." On the surface, this property at 4525 Churchill Drive is a nice home. But with tenants who had fallen behind on their rent and the prospect of an impending foreclosure, the property had become a considerable burden for the owner. Unsurprisingly, the owner decided to sell the home, and in doing so, had the unenviable responsibility of evicting their tenants. You would think multiple months of free rent would have made the tenants a bit more understanding, but unfortunately they were not, and in their frustration, they vandalized the property on their way out. Spray painted obscenities on every blank surface, trash and rotten meat left in the basement, and feces all over the floor were just a few of the spiteful reminders of their disdain for the situation. Their hopes were that the owner wouldn't be able to sell the home as their way of getting revenge, but as the listeners of our show can attest, in most cases, the more distressed and ugly the home, the bigger the deal for savvy real estate investors like ourselves.
Listen up as Donny breaks down the horror that is the situation at 4525 Churchill Drive and make sure you adopt the mindset of finding deals where others might not look.
Mentioned in today's episode:
Launch Control
Here's a link to the article Donny discussed in today's episode:
"Little Slice Of Hell" House Under Contract With Cash Offer; Off The Market

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