Hey guys, Wondering everybody's thoughts on an investment in a property that had been damaged by fire. The owner claims there was no structural damage, any advice as to how to handle this situation would be appreciated.
You need to get an exceptional deal. You have to do more than a rehab. You must tear out any damage, you must treat every inch to get rid of smoke smell, and finally piping or wiring may not have burned, but it may have melted and need to be replaced. You don't need a melted sheath on a chunk of wiring to cause arcing and starting another fire, or have water damage from a melted plumbing line.
Thanks guys, the input is appreciated, I'm wondering, generally, do electricians and fire restoration company's charge for an inspection? is it absurd for me to be looking for free quotes?
I don't think I would recommend a burned property as a flip. It is extremely difficult to get out smoke smell and sometimes even drywall and insulation needs to be removed to make it go away.
@Kevin Reik Could you give us an update?
Did you purchase the fire damaged property and if so how much rehab did it require?
How did the numbers work for you?
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