Property Manager · New Orleans, LA · Member since 2013 · 184 posts · 34 votes
Hey BP world!! I am happy to say I am officially under contract on my first property!! The property was a succession sale that I got at a great deal. The property was inspected today and the inspector discovered that all of the wiring is aluminum. Any of you savvy investors out there have any suggestions on how to deal with aluminum wiring? I know of all possible remedies, but my main concern is insurability. Since the inspection was preformed late on a Friday afternoon, I was not able to contact any insurance companies. I spoke with the listing agent about the possibility of the owner subtracting the cost of rewiring the house from the sale price, but he is not willing to do so due to the fact that it was already discounted a lot and that there are 4 backup offers ready and waiting for my deal to fall through. I'm open to any and all suggestions.
It's called a Copalum repair to pig tail aluminum wire with copper ends. As others have mentioned already, Aluminum wire itself is safe, just not the connective ends. The CPSC (consumer product safety commission) endorses pig tailing the connections as the acceptable remedy. This should only cost $1-2k with a licensed electrician.
@Michael Baradell At that the price. If you can afford it, the numbers make sense to just absorb the cost. If you are going to buy and hold as a rental. I would just do enough to make it safe and rental. Save up money from the rent and get it fully fixed at a later date.
Hi Michael I’m facing the same issue with aluminum wiring in a house in Slidell, LA. Were you able to find an affordable insurer?
Hey Erin, let me know if Mike doesn't respond. I run the Northshore Real Estate Investors Association and invest in Slidell. Would be happy to help if I can.
Hi Michael I’m facing the same issue with aluminum wiring in a house in Slidell, LA. Were you able to find an affordable insurer?
Hey Erin, let me know if Mike doesn't respond. I run the Northshore Real Estate Investors Association and invest in Slidell. Would be happy to help if I can.