AMC’s hit TV show “Breaking Bad” is about an underachieving chemistry genius who gets cancer and, to take care of his family, starts cooking the purest and most expensive crystal meth in New Mexico.
And you know what?
That got me to thinking about YOU, recently.
Here’s what I mean:
Drug users in general, including crystal meth users, are everywhere. And they pop up in places that can seriously affect our real estate businesses.
Tenants immediately come to mind.
If you have drug-using tenants, they can quickly create trouble for you and your rental property.
And since birds of a feather flock together, more trouble is never far behind.
And if they also turn your property into a “cook site” then they can put your rental out of commission for a long time while you have the biohazard mess cleaned up.
Imagine all that time of having to pay the mortgage and expenses on your property but not being able to rent it out because it got messed up by a drug-using or drug-producing tenant…
Liability can be HUGE.
Is it just tenants?
Nope.
Think about your contractors too.
They have total access to your property when they are rehabbing or making repairs and when they are on YOUR property, YOU have liability.
Hey, I’m not saying it’s right, but that’s the way it is. People will go after you as it is assumed your pockets are deeper since you are an “investor”.
So how to best deal with this problem?
Stop it before it starts.
Nip it in the bud.
Learn to identify, in advance, the telltale signs that someone is an illegal drug user.
Then you’ll know the risks of having them on your property or even doing business with them at all.
What are those signs?
Look it up on Google. You might be surprised at what you learn.
Is there a point to telling you this today?
No.
Not really.
I just seem to think someone needed to hear it.
Paying attention to it can make you a better investor/landlord/rehabber.
Learn more ways to be better here:
Tom Zeeb’s TOTAL TRACTION Program
Tom Zeeb
Traction Real Estate Mentors