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Stone Jin
  • Rental Property Investor
  • Chandler AZ and Sylvania, OH
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I may have a haunted house, what to do?

Stone Jin
  • Rental Property Investor
  • Chandler AZ and Sylvania, OH
Posted

My contractor called me yesterday on a house we own out of state and said "You should check to see if your lot used to be a cemetery, I think your house may be haunted".  

A little background, we bought a house in January that we were planning on using as a summer retreat from the Phoenix heat. It's a nice house on a big lot in a nice suburb of a city we are very familiar with. The original plan was to use it in the summer and then STR Airbnb it in the fall/winter/spring to help cover the expenses. I immediately contacted the neighbor on the lot over whom I've known 20 years and she said she has "seen some things, but they are not harmful".

So this leads to my question of what would you do in my position.  Here are my options

1) Sell the house, purchase price plus repairs total at 250K, I can probably sell the house for 290K.

2) Rent the house, my monthly PITA is $1400, market rent is 2200-2400.

3) Execute the original plan, make friends with the ghosts and move forward.  Airbnb nightly rates for a house that size in that area is about $300 a night.  To break even I need about 7 nights a month, everything after that is profit.

Let me know if I'm not thinking of an option.  I realize all options are not horrible.  

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Scott Mac
  • Austin, TX
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Scott Mac
  • Austin, TX
Replied

Maybe you can get an upcharge for a "Haunted" rental (???)

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