Why real estate investors buy fire-damaged houses

  (photo credit: fire cash buyers)
(photo credit: fire cash buyers)

According to Fire Cash Buyers, one of America's top fire-damage real estate investors have long been aware of the potential profits in buying fire-damaged property. Fire damage can severely reduce the home's market value, making it an attractive option for a real estate flip.

With a little work and some strategic investments, real estate investors can often upgrade a fire-damaged home to like-new status and sell it for a significant markup from what they originally paid.

Additionally, according to Fire Cash BuyersJoel Efosa, real estate investors have access to special resources and organizations that specialize in the process of rehabbing homes, making an even larger return on investment possible.

Of course, repairs take time and money, but with the right strategy, real estate investors can reap a substantial return on their investment by taking advantage of fire-damaged homes.

How Do Real Estate Investors Find Sellers Of Fire-Damaged Properties?

Fireman and Local Firefighters

Real estate investors are always on the lookout for smoke-damaged rental property. To find them, it's important to connect with firemen and local firefighters who may know of recently destroyed homes in their area.

Firefighters often know the area and can give investors insight into who owns any damaged buildings, and they may even be knowledgeable about individuals close by who are interested in selling their homes after being impacted by a blaze.

Oftentimes these are houses that were either not insured or had smoke damage that rendered them unlivable. These properties then become interesting prospects to many real estate investors who can scoop them up at a discount.

Insurance Agents, Adjusters, etc.

The insurance company often has a team of professionals such as insurance agents, adjusters, and other industry experts who will have access to information about recent insurance claims and the homeowners who may wish to sell their properties.

Working closely with these insurance professionals can provide real estate investors with timely information on potential deals, allowing them to be at the forefront of new opportunities when they arise.

Ultimately, investing in a fire-damaged house can be an extremely lucrative endeavor for an eager real estate investor – as long as sellers of these damaged homes can be found.

Real estate Agents

Real estate agents remain one of the most prevalent resources for locating fire-damaged properties. They can help real estate investors access listings of many types of properties, including those affected by damage caused by a fire.

Realtors often have access to an extensive list of items that are not available on public sites or classified advertising outlets, allowing the investor to locate more desirable investment opportunities. Connecting with a good real estate agent is essential for finding the right fire-damaged property quickly and efficiently.

This article was written in cooperation with Tedfuel