Brrrr or flip or leave alone

[Dante Foreman]

So my cousin was telling he knows someone selling a house for $500.00. The home has fire damage so it has been gutted will need new wiring all throughout. A tree feel on the garage garage is still standing though. As a new investor should I stay away from this deal or try to brrrr or flip 

[Greg Scott]

Dante:

There is not enough information in your post to answer your question.   The most important information is... What would it be worth if it were fixed up?  What do you think it will cost to get it in that shape?

Regardless, this is not a good property for a newbie.  I would only tackle it if you have some serious construction skills, such as you have your own construction company.   For someone green, a project like this would be filled with landmines and booby traps.

Also, I can show you some properties for sale for $500 that are a bad deal at that price.  Just because it is nearly free, don't think it is a huge opportunity.