foreclosed homes as pot farm?
- Thread starter Frogger
- Start date
hey why dont ya copy n paste the link some of us round here dont hit links outside of the forum. but i wouldnt put it past ppl tot ry n do a few quick runs before the lock is placed on the door. personally i think its insanity
Z
zoolander
This is a bad idea .
dj digigrow
Active member
no good....
and won't these abandoned house not have power anyway??
and won't these abandoned house not have power anyway??
Y
yamaha_1fan
Once the property is foreclosed on and the bank owns it, the bank lists it with a realtor. The bank has absolutely no reason not to list it. It may not sell anytime soon but they sure as hell are going to try.
Growing in a foreclosure is just crazy.
Now if the property has not actually been foreclosed on, thats a different story.
Growing in a foreclosure is just crazy.
Now if the property has not actually been foreclosed on, thats a different story.
if the past tenants canceled the utilities i would say no.
ShootinBudz
Member
great idea man. But are we talking about squatters in empty houses, or people trying to use their house to make some quick cash and pay it off?
I think the show 'weeds' has blown up the spot on indoor growing, many thousands of people will attempt it from watching that show. Of course the gov't knows that this is going to be a more and more popular hobby as things get worse.
This is a great time to get into growing though, so many idiots losing their houses who should never have had them to begin with. So someone who normally rents, should do everything they can to get into a house because they are so much more available now.
I think the show 'weeds' has blown up the spot on indoor growing, many thousands of people will attempt it from watching that show. Of course the gov't knows that this is going to be a more and more popular hobby as things get worse.
This is a great time to get into growing though, so many idiots losing their houses who should never have had them to begin with. So someone who normally rents, should do everything they can to get into a house because they are so much more available now.
Foreclosures actually have 10x the traffic than a normal house on the market would....
Listing broker will possibly have contractors coming in for quotes, others for showings, plus it is the norm also sometimes depending on the property to have all utilities turned off, not to mention if they are not, the utility bills are reviewed by someone (listing broker or REO department/asset manager handling it....)
Initially, going to have the same, and brokers doing BPO's on it or inspections of condition, and above (pre listing).
Close associate of mine handles up to 600 foreclosures (listings) from lenders at any one given time.
Larger property, lot of land?......Outdoor might work well......(or might not, as part of listing brokers deal is to maintain, so, landscapers could also be expected regularly on property if that is the case.....)
Listing broker will possibly have contractors coming in for quotes, others for showings, plus it is the norm also sometimes depending on the property to have all utilities turned off, not to mention if they are not, the utility bills are reviewed by someone (listing broker or REO department/asset manager handling it....)
Initially, going to have the same, and brokers doing BPO's on it or inspections of condition, and above (pre listing).
Close associate of mine handles up to 600 foreclosures (listings) from lenders at any one given time.
Larger property, lot of land?......Outdoor might work well......(or might not, as part of listing brokers deal is to maintain, so, landscapers could also be expected regularly on property if that is the case.....)
What I'm thinking's not exactly what the article was saying ; but still... abandoned undeveloped properties, out in the sticks... to a certain degree, wherever.. checking up on locale's time frame for unpaid taxes auctions..
an urban or suburban, even rural grower looking for rather low traffic, undeveloped properties, might be able to find some places to plop a few into the ground..
an urban or suburban, even rural grower looking for rather low traffic, undeveloped properties, might be able to find some places to plop a few into the ground..
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Y
yamaha_1fan
Julian said:
Exactly. Thats what I implied when i said the house would be listed. And dont forget that the property will have instant access for realtors via some form of lockbox.
You could do it and if it got shutdown, there would be no trail back to the grower but the risk of it getting popped is so high, its not worth loosing the investment.
Now if the realtor were in on it, that would be much different.
On the OTHER hand....it would be a BRILLIANT idea to PURCHASE a forclosed house for such purposes. They're practically a steal. Of course, Clowntown should be popping in any time now to scream: newbie commercial grower at me. I pretty much said this very thing on the chat board the other night....much to the displeasure of CT.
Of course: CT you know I love ya...but you're getting that "modem slap" when I can get to ya.
Of course: CT you know I love ya...but you're getting that "modem slap" when I can get to ya.
Y
yamaha_1fan
accessndx said:
Yeah but you are going to have to deal with the bank as a seller. There are much easier ways to get property
Wouldn't be in their best interest. Listings get pulled and transferred to other brokers when not sold all the time, and, not necessarily a time lapse between the 2. (Lender might start sending a whole nother round of brokers to do inspections and submit BPO's while still listed with previous)yamaha_1fan said:
I can't see it being successful or safe due to all above.
Note: Listing brokers duty on REO's is to maintain, which, unlike a typical owner occupied listing, means handling all bills, repairs, maintenance, bids for work, etc.
Not the mention from the start, the entire approach is ideally geared towards the quickest sale possible.
It's hard enough to conduct safe and efficient operations from a place that is protected and secure, let alone anything close to the above.
Note: I'd recommend against believing the hype. Your not getting a , say, $300k property for anything less than that. Asset managers would be fired if giving away assets for less than they are worth. ( That is also not the procedure. They have many brokers do BPO's, then list, then reduce accordingly when not sold.) Foreclosures and such not the value they are made out to be, plus terms they put on purchase are sometimes unreasonable, such as determining what they will accept as far as financing from a buyer (for example, they might insist on 20% down, when, in the end, all that affects them is a closed and funded loan.) etc...
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Plus, enjoy the long trip back on the asynchronous speeds...
i would rather buy em move the grow there and use the money to fixer-up then rent or sell em.If you did buy one that was foreclosed, it would be important that you know about this ''Murphy's Law/Act of God" bust possibility: and you can see it's a perfect ''accidental gotcha" scenario.
When a place is foreclosed it not only goes for sale however the owner tried to sell it ahead of time; it goes onto foreclosure lists. Some of them, massive spam lists realtors buy into.
When a place hits that many different lists, (that many meaning, thru unusual circumstances, maybe more than usual) there are going to be the inevitable ones which once purchased: don't get taken off list due to oversight somewhere.
How surprised would you the reader here be if you found in the 'news/legal' section on the pot forum, a news article saying ''Foreclosure Home Found to Contain Marijuana Grow Operation"
You click into the article, and Lo & Behold, here's the story: man bought foreclosed home that had been on the market for awhile; moved in with 1.2 kids & all that. FOUR MONTHS LATER a REALTOR, having the house listed on a FAULTY LISTING from which the house had not been removed, came over one day while the wife, husband, and 1.2 kids were at work/school/vicious criminal racist juvenile gang meeting, and seeing some signs of life but nothing convincing, walked around to X window: looked inside bedroom window saw //bong on nightstand/grow op in progress/single plant on floor of utility room//whatever.
Police called, etc.
It would seem responsible to remind others that if they made such a purchase: care should be taken to
(1)search through listings however possible: calling realtors in town about the house, searching online listings
(2)wait awhile
(3)keep security up to snuff.
Just thoughts to pad the post count so I can read these p.m.s
When a place is foreclosed it not only goes for sale however the owner tried to sell it ahead of time; it goes onto foreclosure lists. Some of them, massive spam lists realtors buy into.
When a place hits that many different lists, (that many meaning, thru unusual circumstances, maybe more than usual) there are going to be the inevitable ones which once purchased: don't get taken off list due to oversight somewhere.
How surprised would you the reader here be if you found in the 'news/legal' section on the pot forum, a news article saying ''Foreclosure Home Found to Contain Marijuana Grow Operation"
You click into the article, and Lo & Behold, here's the story: man bought foreclosed home that had been on the market for awhile; moved in with 1.2 kids & all that. FOUR MONTHS LATER a REALTOR, having the house listed on a FAULTY LISTING from which the house had not been removed, came over one day while the wife, husband, and 1.2 kids were at work/school/vicious criminal racist juvenile gang meeting, and seeing some signs of life but nothing convincing, walked around to X window: looked inside bedroom window saw //bong on nightstand/grow op in progress/single plant on floor of utility room//whatever.
Police called, etc.
It would seem responsible to remind others that if they made such a purchase: care should be taken to
(1)search through listings however possible: calling realtors in town about the house, searching online listings
(2)wait awhile
(3)keep security up to snuff.
Just thoughts to pad the post count so I can read these p.m.s
