Must share an unusual story that happened to me recently. Make sure to read to the end that will be on ...

Must share an unusual story that happened to me recently. Make sure to read to the end that there will be a test on it ..
Anyone who thinks and tells that investing in the US is easy - wrong and misleading. I always tell investors that there is no such thing as everything being rosy and there are no problems - by the way, this is also the case with real estate investments in Israel and in the whole world.
The case that happened like this was - our investor (Shmulik), who also happens to be a good friend who bought a number of properties from us in recent years, bought the last property with our escort about six months ago. We took out insurance for the property itself and since the insurance company had a problem with the siding of the house (this is the outside of the house) the insurance company told us that the insurance would expire after about two months from the purchase and / or we would fix the problem.
We started renovating the property and updating the investor on the progress rate for about a month and a half. Exactly four months ago, one morning, quite a few realtors/wholesalers and friends from Cleveland (yes, you'll be surprised, I have a friend or two here...) asked me if I saw news yesterday about the property that went up in flames in the middle of the night. I told them no because I don't watch much local TV, I have to admit that I still sin against a great country and love Anna and such - what can I do, the Israeli in me can't be taken out of me apparently.
While being asked I thought to myself that if a property of my investor goes up in flames like this I would not know where to bury myself. And here's the wonder and wonder - they called me from the fire department and informed me that my investor's property, Shmulik's property, was the one that was in the news and starred there, when it was completely burned.
At first I thought they were laughing at me - because why would the firefighter's pupil (a joke for those born in the 70s and back) call me, since the property is not registered in my name at all ??. It turns out that the worst of all happened - it is indeed his property.
I did not know what to do - I even made a video for the property the day before to show it off and now the day after it looks like a bonfire the day after Lag B'Omer.
I remembered the insurance was about to expire I just did not remember if we are within the time period or not. I have already seen how I take out of my pocket $ 60 (this is what the property cost the investor including renovation) and give it to him. Of course I was debating with myself whether it was my fault or not, and what I could have done differently and whether I should pay or not, and a thousand other moral questions, which I hope concern every US investor lender that things go wrong and the question is whether he should take responsibility.
It turns out that just 15 days after the fire, the insurance expired - I never felt so lucky in life, but I did not allow myself to open the champagne bottle because I did not know if the insurance would be waived or not.
The insurance sent a fire investigator who interrogated me, interrogated the firefighter's pupils and friends who came to the place, the municipality, the neighbors nearby and of course me - and believe me it is difficult to be interrogated in English by an investigator.
At that exact time I did not know what would be born and whether or not we would get anything from the insurance, but I had to call Shmulik and update him. Because my relationship with that investor is great and based on a lot of self-humor, that especially the jokes are about myself..he thought I was kidding with him. "Shmulik, your house has burned down," I told him. But he did not believe, asked that he improved a little in my jokes.
"Not Shmulik, I wish it was a joke, your house really burned down" but he was ripe.
It was only after I sent him the pictures of the burnt house that he believed, and then he entered into a state of seriousness and even shared his conversation with his wife.
He trusted me a lot even though I admitted to him that I did not have so much experience with Leg B'Omer and what would happen now and I even suggested that we take a good lawyer that I would pay him to increase the chances of us getting something from the insurance.
From there after an endless emotional roller coaster ride that lasted until last week the investor received $ 146 - the insurance company edited the house at $ 170 (reminds you that the investor bought at $ 85), but in deducting the deductible it came to this payment - further proof that we bring homes At really good prices !!! And for an additional $ 5000 rent loss - a great flip thank you.
The investor of course was very happy and asked for another house. I wrote to him on WhatsApp this week “The next house will come with a lighter” To my delight this time he laughed, me too.
Wish me and our investors a lot more flips but not such…?

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