Fire damage home

[Mike Flora]

I have heard different things but it looks like I have a fire damage home I'm going to look at to possibly wholesale/or fix and flip. Different investors have said they can be great deals but not sure how to approach the price per SQFT formula or just get a contractor or if there are different codes to be met after a fire etc. I also heard that sometimes insurance can help with expenses as well. I'm digging a lot on it today but your info will also help. THOUGHTS????

[Jackie Lange]

I never paid more than LOT value for a fire damage house.  

Meet with Code Enforcement to determine what will need to be done to the house before you can get a CO (certificate of occupancy) again.  They usually require all new electrical wiring, new plumbing, etc.  A fire damage property is much more expensive to repair so you need to get it super cheap

If you are new to rehabbing, I strongly suggest that you wholesale the property.