My first property burned up! But now it's fixed!

Rehabbing, Fix and Flip, Rental Properties
1

:shocked

If you guys haven’t heard, my first property (of three, soon to be five) BURNED UP! HA! All thanks to a dumb tenant, who is likely going to be sued by a couple insurance companies.

However everything has been rebuilt back to normal; actually the place looks better than before. My bad-a*s contractor only took 30 days to rebuild it. I have found the perfect flipping contractor…I’m going to use him like crazy in a year or so. I’m going to use him for smaller jobs in the meantime.

And I found a qualified renter for the place within 24 hours after the newspaper ad came out (they’ll move in actually in a couple weeks, but reserved the place with a non-refundable $300 deposit).

Ceiling before
http://www.flickr.com/photos/34241880@N07/3188987538/

Ceiling after
http://www.flickr.com/photos/34241880@N07/3188987580/

Kitchen sink before
http://www.flickr.com/photos/34241880@N07/3188987590/

Kitchen sink after
http://www.flickr.com/photos/34241880@N07/3188987598/

2

It looks great now. Did you come out ok w/ the insurance co and the contractor on the deal?

3

So far so good with the insurance - it’s not all resolved yet though. I came out excellent with the contractor.

4

You will probably find that the insurance settlement is more than the fix up actaully costs. I almost always find the the insurance prices are a lot higher than my contractors.