CDPE Turns Marijuana House into Smoking Deal
REDEMPTION: This home two years ago was raided by the FBI for drugs, and today it's one of Jeff Rockett's most memorable listings.
BEFORE: The kitchen was missing appliances and needed a few upgrades.
AFTER: Granite countertops and stainless steel appliances give the kitchen a much-needed lift.
By Amanda Okker, RE/MAX Times Online Editor
For two years, Jeff Rockett's children were afraid to wait for the school bus in front of a former marijuana grow house after they witnessed an FBI raid there. But the distressed property specialist took matters into his own hands, and today the home is refurbished and under contract.
The Sales Associate with RE/MAX of Reading in Reading, Pa., established a corporation to purchase the home late last year. He partnered with local contractors on the rehab. At an open house April 19, the public was allowed in for the first time.
Read two local news stories about Rockett's neighborhood project and the open house:
Former Drug House Ready for the Market
Former Drug House Given New Life
"I stopped counting at 100 guests," Rockett says. "Many were there to consider a purchase, but curiosity brought in a lot of neighbors, too. It was good for putting people's minds at ease about the future of the house and the neighborhood."
The Friday after the open house, Rockett (CDPE, SFR) received an offer. As of the next Monday, the home was under contract. The buyer's only concern was air quality. Rockett provided the results of a test he ordered himself when the property was first purchased.
The 100 Percent Club member says profit was never a motive for getting involved in this project – in fact, he's donating the proceeds to help combat drugs. The plan for marketing the property, however, was all business.
Here are Rockett's strategies for overcoming a property's checkered history:
1. Understand distressed properties. Originally, we were supposed to settle in December, but that got delayed until February. I was able to be patient, because I understand the process and am trained in handling distressed properties.
2. Stay ahead of the rumors. I communicated with the media early on to stay ahead of rumors of the home's condition. Stories swirled that it was full of mold and had to be gutted. That couldn't have been further from the truth. The growing operation took place in the basement. You would never have known anything happened in that house if you hadn't heard it on the news. Every bit of evidence had been removed, and I wanted to set the record straight.
3. Keep the community updated. To overcome the stigma of the property, I let the public know what was being done. I attended a township public meeting and explained the plans, assuring everyone that the best professionals were working on it.
4. Make an immediate impression. On the outside, the entire house was overgrown. Architectural and ornamental elements were completely concealed. Within two weeks of purchase, we had everything ripped out so that the neighborhood could see the home in a different light.
5. Create something of value. Being the managing partner, I didn't want to just repair the problems, I wanted to create a product that has more amenities for the price. I updated the kitchen and bathrooms with tile floors, granite countertops, stainless steel appliances and custom cabinetry. We realized the home's potential.
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