First Deal Went Amazingly, Mother Nature Did Not Approve

3 Replies

First deal went great!

Purchase price- $54,290

Repairs/Expenses- $6,550

Appraisal- $109,300

Expected rents- $950

I won an online auction for the property in January and up to this point everything has went well!

Yesterday I received the appraisal report and although I feel it’s a touch low (of course) I am still delighted with everything.

Today I was informed that a squirrel chewed through the neutral leg of my service drop from the street. This put 250v to a single leg in my panel. So far the damage includes the air conditioner, brand new refrigerator, brand new stove, brand new microwave and several ceiling fans. The utility company claims no liability for acts of nature.

Who is with me that this may be one of the unluckiest, unavoidable first property experiences of all time? No way to due diligence your way around that one haha

Oh well, I figured someone would enjoy laughing at my pain!

@Mike Olson Yikes, that sounds bad. I thought my first was a horror story. Best of luck!

Awesome return  but ouch on the accident ...hopefully this squirrel was fried for causing that much damage.

Have you tried talking to your homeowners insurance for the property in regards to that hopefully you had it? That's a pretty sizable loss that would probably be worth paying the deductible

Originally posted by @Peter Fennig :

Awesome return  but ouch on the accident ...hopefully this squirrel was fried for causing that much damage.

Have you tried talking to your homeowners insurance for the property in regards to that hopefully you had it? That's a pretty sizable loss that would probably be worth paying the deductible

I have spoken with them briefly, the plan is to gather some more information on the damage and see exactly where we stand. I have had this policy for exactly a month, I’d rather not make a claim unless it’s necessary. Which it very well may be.

Every squirrel within a 500 yard radius is now in significant danger. 

Ouch is right, thanks!

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