Rental Property Investor · Chesapeake, VA · Member since 2016 · 23 posts · 7 votes
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!
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
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.