Burnt Houses
I have found about 5 houses that have fire damage, I would like to know how do I know if the the house is worth buying? Do I have a contractor look at it or what, To me they look like they could be fixed up, but I don't know if I would have to tear it down and star over.
You are on the right track. I get bids from contractors on damaged property regardless of the cause. You can certainly make an offer contingent on contractor inspections. If the repairs are too high, you can walk or renegotiate.
Definatly grab a contractor.
You may find you want to aquire the property for the land. Team up with that same contrator (or one you know better) and sell pre construction. You can make a lot building and selling before the project is complete.
[addsig]
How would you go about advertising to a buyer on this land? Would you advertise in the newspaper pre-contruction sale?
If the property is not that badly damaged, you would be suprised at how small the rehad job will be compared to the ARV. Most burnt homes are written off by the insurance companies and they have paid the seller for the claim. You should be able to strike a good deal on purchasing them from the seller.