We are working on a new fire damaged property.
This is a 3 bedroom 1 and a half bath colonial located in Springfield.
The fire started in the first floor stairway and traveled up to the second floor. The majority of the damage was done by the smoke, the actual fire damage is pretty limited. The good thing is the fire didn’t spread up through the roof or burn through the exterior of the home.
Here are some pictures of the house:
Springfield MA Fixer Upper
Kitchen
Kitchen
Kitchen
Dining Room
Living Room with Melted TV
Front Hallway
Living Room
We are taking this house with all the contents so the next step is going to be the clean out.
Once we get it cleared of all the junk we’ll figure out what we’re gonna do with it. We’ve got quite a few rehabs going on right now and some new purchases lined up so this may turn into a wholesale deal.
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Good Luck with the project!
Good to know, Matt! Thanks for the info.
Steph
Hi Matt,
Even though you may wholesale this deal, I know you guys do rehabs on fire damaged property. Have you run into any issues with FHA buyers trying to purchase one of the homes you rehabbed after a fire? I’ve heard that FHA won’t usually loan on some properties that have had fire damage? What is your experience?
We are in MA also, if that helps!
Thanks,
Steph
Hi Steph,
We have never had an issue with this and we’ve sold a couple renovated fire damaged homes to FHA buyers.
By the time we are through with the rehab our houses look brand new, so nobody is even aware that there may have been a fire there.
Thanks for the comments!!
Matt,
I’m in California and I’m pretty sure we are obligated to disclose the fact that the property had previously suffered a fire. Do you know the answer for sure?
Thanks,
Deborah
Good buy Matt. Great decision to wholesale as these tend to eat up chunks of cash.
Hi Matt,
Congrats on picking up this property. Looks like a “smokin” deal 🙂 Just curious, did you find this by driving by or do you have another way for finding fire-damaged properties?
Alex
Hi Alex,
This one came from a direct mail campaign to the area… so I didn’t know about the fire damage until I spoke with the owner.
Thanks for the comments
Matt,
Where did you find this? Did you go directly to the owner or was it through the MLS?
How long do you expect this renovation to take?
Hi Curtis,
We got this property dealing directly with the owner.
Rehab would probably take 9-12 weeks, but it’s looking more like we’re going to wholesale this one.