Rehab of fire damaged home

[Arthur Kelly]

Hello all,

During my introduction post, I was provided a potential home to rehab on the cheap. The house is next to nothing at $10k, its a 2/1 1000sq. ft. and in a rather undesirable area of the city. However, the area in undergoing radical changes. The block had 8 vacant lots all of which new construction were built on.

This 2/1 is now one of the smaller units on the block but nestled amongst some very new homes, so if I can mirror the exterior to the new constructions, I can borrow their curb appeal.

Anyhow, aside from that, it has interior fire damage making in uninhabitable. I do not know the full extent as of right now, doing a visual inspection today.

Does anyone have suggestions or opposition to this kind of project?
What should I be on the look out for in terms of unrepairable damage?
Should I expect heavy mold damage from the water used to extinguish the fire?

Any suggestions or feedback would be great to hear as I am looking for my flip!

Arthur

[Mark Gallagher]

@Arthur Kelly have you thought about simply buying and reselling. Buy for $10K, resell for $20K. Let it go to someone with experience. If you put it under contract, call around to the fire restoration companies. Many of them are already flipping and buying burn outs. Perhaps this one wasn't on their radar? Make a quick buck and move on to something a little more beginner friendly.