OfflineI have seen many homes here in Lemon Grove that have had some fire damage Should we stay far from these? or just trim the offer to suit. In other words is it hard to get rid of the smell and affects of a fire?
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Grateful John
I would think you would be able to get better prices from fire damaged properties. The smell should gone once all the burnt wood or items were removed. And were replaced with new material and paint. These are the kinds of properties I'm looking for. Don't be shy, take the challenge.
I think that buying a house with fire damage is a great option where you can make a lot of money. You will need to replace the carpets and repaint part or perhaps all of the house. In addition, you may need to scrub the floor, cabinets, counters, etc., but it could be worth it. There are companies that specialize in fire damage repairs that you could get a bid from, or at least some ideas on what you may need to do.
Fire damage property can give you some great potential at greatly reduced prices. This should be handled with care and should have professionals fix and repair. Find a contractor that has some experience in this area.
To get rid of the fire smell, you must replace all burnt wood with new. Make sure you take into consideration all costs and extra costs to do the extra work that will be involved.
Happy Investing
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Mike
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About two months ago, some guy murdered his two neighbors. Then set the multi family on fire. I wanted to look up the owner and see if maybe they wanted to sell. I thought I could wholesale it. Bank of America owns the property. the three family was fully rented at time of fire. Has anyone had experience in wholesaling a fire damaged bank owned property? Thanks for your input.
Teena