Any one have experience with a Burnt House? - Posted by TC

Posted by Larry on February 14, 2000 at 03:52:12:

I’ve had 2 experiences with fires in rental properties and they were both positive. The key here is to see how much actual structural damage is done other than what is obvious tothe eye. What I did was rent a sand blaster for a couple of days(hot,nasty work) and use it on any exposed wood from the fire taking it down to new wood. I then got the city inspector to the site and let him tell me what I needed to repair or replace. What I thought was major damage turned out to be minor once the actual damage could be seen. For the price of the land itself I don’t see how you can go wrong. Not seeing the property, the only red flag for me would be if there was any damage to the foundation. You could make an offer subject to an inspection!?! They will tell you at that time of any time restrictions. Good Luck! Larry

Any one have experience with a Burnt House? - Posted by TC

Posted by TC on February 13, 2000 at 22:30:51:

Sent a post card out to the owner of this burnt house about two months ago and got a response yesterday.The house is a 3/2/2 brick/slab w/cental heat and air.The majority of the damage was over one of the bedrooms.The owner offered to let it go for right at the value of the land.Said that the insurance totaled it and paid in full.
My question is:Is there any special requirements that I may need to expect from the city like maybe time frame to get it repaired in or?
I have a couple of exit strtegies:Flip or rebuild it myself and retail.The house is in a good area.Any help would be very much appreciated as usual!