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Updated over 6 years ago on . Most recent reply

User Stats

10
Posts
2
Votes
Quincy Kea
  • Flipper/Rehabber
  • Charlotte, NC
2
Votes |
10
Posts

Buying and rehabing a duplex with fire damage

Quincy Kea
  • Flipper/Rehabber
  • Charlotte, NC
Posted

Hi Everyone, 

I'm fairly new to real estate and I wasn't sure where to start so I figured why not the forums!

I'm looking at purchasing a duplex for house hacking, however the one I'm looking at has fire damage on the bottom unit. From what I can tell the entire bottom needs to be redone. The top half has already been renovated and has a tenant in place. 

The bottom unit is about 900 square foot, I'm not really familiar with how to calculate what the rehab would cost. Do I contact the owner and have the them reach out to a contractor for an estimate? What are things to look for that would make buying it unreasonable?

Most Popular Reply

User Stats

595
Posts
344
Votes
Carson Wilcox
  • Davis, CA
344
Votes |
595
Posts
Carson Wilcox
  • Davis, CA
Replied

Fires are a sneaky bastard...  pretty much assume that you will be gutting it to studs if not more... electrical can melt... pipes...  I would have a contractor walk it, and give you a bid for a complete to studs remodel, and add 10%.

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