Mother Nature Rides Again

We’ve had some pretty wicked storms around here this summer and, with the age of some of my rentals — 100+ years — I’ve found myself holding my breath a few times!

No matter where you live in the country, you’re susceptible to some kind of weather issue: tornadoes, hurricanes, snow and ice, intense heat, mudslides, etc.  When I purchase a rental, I pay a lot of attention to the exterior material.  I never buy homes with wood siding unless my plan is to reside them with vinyl.  Brick is best of course — neither the Big Bad Wolf nor Mother Nature can blow that house down! — but it will cost more money.  I also check the condition of the roof, because a good strong wind can do a lot of damage.  So can a fallen tree.  Check out the picture below:

This happened a couple of weeks ago.  The tree didn’t appear to be dead or rotten but it just snapped in half during one of our bad storms.  I check the trees on the property after I buy a rental, and have dead and overhanging branches removed, especially from areas around the house or garage.  In this case, thank God it just fell on the garage, not on the house or my tenant!

She called me immediately and I had my “tree guy” remove it quickly.  Unfortunately, it pierced the roof in a few areas so I had that repaired as well.

Since the entire cost was under $1000, I didn’t file it with my insurance company.  I have $1000 deductible to keep my premiums low, and I take a consevative approach re: filing claims.  I like to hold out for larger claims, and in almost 17 years now, I’ve only had to file twice with my insurance co.  Really, if you do a good solid job on the rehab after the purchase, you shouldn’t have much trouble down the road.

However, do protect yourself with a good insurance policy.  You just can’t trust Mother Nature . . . she’ll sneak up on you when you least expect it.

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2 thoughts on “Mother Nature Rides Again

    • I never do replacement cost on my rental properties. It’s way too costly. I try to determine what the current market value is and go from there. If I were to suffer a total loss on the property, I’d just take the money and run … and buy another!

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