How much would you pay for a fire damaged house?
Aspiring investor here. My goal is to buy my first BRRR within the next 3 years, investing long distance in the Midwest.
On Zillow I have seen some houses in decent areas with fire damage or needing structural work going for under $20k, a few for as little as $5k! That seems like a laughably low price.
Would you buy a house with fire damage? How would I go about getting a ballpark estimate on a full gut and remodel before buying a property when I’m investing out of state?
Most Popular Reply
Do not buy fire damaged properties without an expert looking at them. There are heavy rules and regulations when it comes to fire damage. Often times, tearing down is a better solution than remediation.