Investor experience with fire damaged properties?

[Bin Liu]

Hello BP family, 

Any one willing to share some insight on fire damaged properties? What are some additional hurdles that would need to be cleared prior to renting or reselling (is there a need to disclose to potential buyers that this property was damaged in a fire). The house I am inquiring about looks good structurally from my pov but currently in the negotiation phase with the bank on price. 

[Andrew Kerr]

@Bin Liu - I have had two properties with fire damage. To me, it really wasn't an issue. It just took slightly more work. Demo out all the fire damaged materials, then do some additional meditation like running ozone machines to kill any remaining smell. Then coat everything with killz. Then continue on like any normal rehab. 

I haven't seen an issue to disclose for rentals, but make sure to check your local laws.