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Updated over 6 years ago on . Most recent reply

User Stats

310
Posts
187
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Dan V.
  • Investor
  • Norfolk, VA
187
Votes |
310
Posts

Will you buy a duplex with multiple fire damage?

Dan V.
  • Investor
  • Norfolk, VA
Posted

Hello BP community, there's a duplex across my mom's house that has been vacant for a while. Last year, I saw some people worked on it and then soon after it got caught in a fire. According to my step-dad that house got caught on fire multiple times. I looked up the property in the county records and it's owned by the owner's living trust, and the last tax paid was year 2002. Assessed value is $175K and rents probably $600-700/unit.  It's a 4BR 2B, so I'm assuming it will be 2BR 1B per unit. 

My question is, will you invest in this property considering the history of multiple fire damage? If so, what strategy will you use (buy & hold, flip, or wholesale, etc) and what would the ideal offer be?

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