Most lenders and investors will not touch a home that has fire damage. Of course the extent of the damage could limit even an experienced rehabber from taking on this type of project. The fear is not knowing the extent of the damage until you get deep into the work and then you're already committed. In this case, a real estate investor who is also a Realtor brought a burned property to us where it was contained to the kitchen and hadn't burn beyond the drywall. As you can see by the before and after pictures below, this rehab project was a “flaming” success. Renovations were completed within a couple of months and sold quickly at full list price.
So, don't always let fire damage stop you, just make sure you have a licensed contractor check it out first. Imagine how many investors avoided this house because of "fire damage" allowing our investor to step in and snup this up with a low offer and little competition. Keep an open mind and maybe you'll just find that perfect investment.
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