Fire-damaged houses: a good deal or a bad deal?
The answer is, it all depends…
Hey Moguls, Jason Lucchesi here, and a fire can be a really traumatic experience for a homeowner. The thing is, you can turn that homeowner’s awful situation into a situation of potential. But you also need to proceed with caution – not all fire-damaged homes are equal.
So I’m going to walk you through how to evaluate a fire-damaged property and how to make sure you’re not missing out on any opportunities to help a homeowner.
Do Your Homework
The bottom line here is that the level of damage to the property is going to determine whether you should get involved or not.
When deciding to invest, gather all the information:
- Where did the fire start?
- Which rooms are damaged?
- What are the significant damages?
- What are the minor damages?
- What is the square footage of the property and how much of that was damaged?
- How…
Jason Lucchesi
Jason Lucchesi is the co-founder of real estate and marketing company Global Fortune Solutions, LLC. Jason has been in the real estate industry since 2002, where he began his career as a Loan Officer. His career flourished in the mortgage business when he accepted an Account Executive position with Countrywide in 2004. Within his first six months, he had achieved the #1 Account Executive in the Midwest territory. In January of 2006. During this time, Jason began investing part-time in multi-family rental properties while also becoming involved in wholesaling. By 2006, Jason was transferred to the Indianapolis area to save a struggling branch. He quickly took the branch out of the red into the green while also beginning to purchase distressed residential properties part-time. In 2007, Jason began pursuing his ultimate dream of becoming a full-time real estate investor and began investing in REOs in 2008. Since then, Jason has been involved with many aspects of real estate including short sales, tax sales/deeds purchasing, purchasing homes in distress, wholesaling, and many other avenues. Jason has been married to his wonderful wife Jamie since 2007, and they are proud parents to their sons Brady and Gavin.