Thoughts on rehabbing fire damaged properties?

[Steven Barr]

What do y’all think about flipping properties that have a sizeable amount of fire damage?

Are there too many unknowns? Does it require pulling permits?

Thanks!

[Michael K Gallagher]

of course this will depend on your local governments but in my market you are 100000% required and need to pull permits and do it all by the book.  There are many inspections that need to happen along the way.  I've not done a project myself but I've helped clients purchase homes that had been fire damaged and flipped.  As a buyers agent once we know its been fire damaged we immediately go to the building records office and make sure all the permits and inspections were don't correctly.  So if you want to get top dollar for that flip I'd highly recommend doing it totally by the book.    But they can be great deals!  and being something difficult means there is opportunity for a niche operation here.