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Updated about 3 years ago, 10/21/2021

User Stats

56
Posts
5
Votes
Simond Wong
  • Investor
  • Oklahoma City
5
Votes |
56
Posts

"Some" fire damage, WWYD to assess this investment?

Simond Wong
  • Investor
  • Oklahoma City
Posted

Good Morning BPers,

I am going to check out a multi-family today with my real estate agent the MLS description stated one of the units had "some" fire damage. I know it is difficult to ask without having seen the property and sharing any further details, but there were no pics of the unit for me to see.

What would you look for in fire damage to assess the viability of the assessment?

Can you list out the common things that needs to be done and addressed from a rehab perspective in order to make it rent-ready?

Can you list out common things that I would need to think about to address (i.e construction, legal, city permits and certif. of occupancy?

What are some things that are often overlooked when thinking through a fire damaged unit? 

Please I would appreciate your feedback and guidance.

Thanks!