Fire Damaged Multifamily

[Stephen Earley]

Hi BP community,

I am interested in purchasing a fire damaged row house in Jersey City, NJ. The building is a historic brownstone located in a very desirable neighborhood. This would be my first investment, that being said I'm not sure if this would be the safest way to begin my B&H investment career, especially due to the amount of rehab needed. Does anyone have any experience with renovating fire damaged row buildings and turning them into B&H properties, and if so might there be grants available through local or state departments?

To be honest I don't have much info on the property, I've just sent a certified letter to the property owners to see if they would be motivated to sell. Can anyone give tips on how to persuade an owner in this position to sell.

Thanks,

Stephen Earley