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Andrew Pandolfino
  • New York City, NY
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First time flip - water damage disaster - ADVICE PLEASE

Andrew Pandolfino
  • New York City, NY
Posted Feb 27 2015, 06:57

I am new to BP and real estate.  A friend of mine who has not yet joined BP and is also new just completed construction on his first flip a couple of weeks ago.  Last night he checked on the house and walked into a disaster...

With the cold weather conditions we have had in NY, a faulty coil in the furnace, a pipe burst in the attic.  By the time he checked on the house the water had already damaged every level of the house and reached the basement with a few inches of water.

He wants to take action asap but not sure if he needs to bring insurance in before starting.

Has anyone been through a similar scenario or have knowledge on how to handle this situation. If you can, please help.  

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