Fire damaged property

[Pandu Chimata]

Greetings team!

I am the process of exploring an opportunity to flip a fire damaged property. Have never dealt with this kind of properties. I tried to get some elementary education on flipping such projects.

So far, my limited conversations, provided me the following information.

1. City Fire department will have the information of the property and will determine the restoration process - rebuild or restore

2. Fire department will inspect the property at various stages to ensure the property safe to live

3. Depends on the 1st step, need to work with the city for the appropriate permits 

Can you folks - please add/comment more on this. Appreciated the input. 

[Ty Coutts]

Pandu Chimata, you're off to a great start! I'll throw in a few more things to consider:

Property Assessment:

Structural Engineer Evaluation: Before proceeding, hire a structural engineer to assess the extent of the damage. This evaluation will determine if the property's foundation and structural integrity are sound.

Insurance Assessment: Check if the property has insurance coverage for fire damage. The insurance company may cover some or all of the restoration costs.

Scope of Work and Budget:

Detailed Inspection: Get a comprehensive inspection to identify all areas of damage, including hidden issues like electrical, plumbing, and HVAC systems.

Cost Estimation: Obtain detailed cost estimates for the restoration or rebuilding process from licensed contractors experienced in fire-damaged properties.

Environmental Hazards:

Asbestos and Lead Testing: Older properties may contain asbestos or lead, which can become hazardous after a fire. Ensure the property is tested and, if necessary, remediated by professionals.

Permits and Code Compliance:

Building Codes: Ensure that the restoration or rebuild complies with current building codes and regulations. This might involve updating certain aspects of the property to meet modern standards.

Permit Acquisition: Obtain all necessary permits from the city, which may include demolition permits, building permits, electrical permits, and plumbing permits.

Restoration Process:

Debris Removal: Clear out all debris and damaged materials from the property. This step must be done carefully to avoid further damage.

Structural Repairs: Address any structural damage first, including the roof, walls, and foundation.

Systems Repair: Repair or replace electrical, plumbing, and HVAC systems as needed.

Interior Restoration: Once the structural and system repairs are complete, focus on restoring the interior, including insulation, drywall, flooring, and fixtures.

Safety and Health Concerns:

Air Quality: Ensure proper ventilation and air quality during and after the restoration process to remove smoke odors and contaminants.

Mold Remediation: Check for and address any mold growth, which can be a common issue in fire-damaged properties due to water used in firefighting.

Final Inspections:

City Inspections: Coordinate with the city for final inspections to ensure that the property is safe and habitable.

Fire Department Clearance: Obtain clearance from the Fire Department confirming that the property is safe to occupy.

I hope this helps, best of luck!

-Ty