Arson can happen to anyone. The biggest piece of advice I can give you is to check your insurance policies. We were 90% of the way done with this project. The tenant was set to move in this week. Closings documents were at title for the end buyer.

I’m extremely grateful that the property wasn’t occupied yet. You can’t replace people.

Utilities were off because we were connecting to sewer.

In the middle of the renovation a home two doors down was set fire. The police suspected the owner trying to get the insurance money. We double checked our policies and continued working.

I got a call yesterday that I needed to come out and meet the Police/Fire Department. Our property and the one next door were both hit the same night. I’ve got a meeting with the arson unit and insurance adjuster this week.

The property is a total loss. I’m honestly angry and still in disbelief. I was hesitant to even post this but if it saves one of you guys a loss it’s worth it.

I was extremely impressed with the investors on this project. They handled it really well. We take care of our investors before anything. But it’s still never a fun conversation to have.

 

I honestly never really thought that this would happen to me. Especially in this neighborhood. I met with more than one teary eyed neighbor who was devastated that we lost the home. We really were doing this neighborhood a service by turning this home around. It had been vacant for 6 years before we started on it. It’s amazing that it survived that long….