Plumbing Leak Damges Ceilng! water damage how to invest in real estate real estate investing beginner real estate investor

#Plumbing #Leak Damages Ceiling & Walls! #propertybrothers

We own a 2 bedroom condominium that we purchased last year. The unit above ours was foreclosed around the same time, and a new owner purchased the above unit about 6 months ago. We were able to take a peak at the above unit while it was vacant and it needed lots of work. A couple of months ago, we noticed signs of water leaking from the above unit.

We weren’t sure of the source, so we checked with the condominium management. Unfortunately, they were not very helpful. Around the same time, condominium management had turned off the building’s water to make repairs to the pipes, so we assumed the leak was a result of the repairs. A few more weeks passed, and we noticed another leak. The water appeared to run down the wall of one of the bedrooms.

We started trying to contact the upstairs owner, and had difficulty because he didn’t live in the unit. The condominium management said they didn’t know the name of the owner because it was a foreclosure owned by a bank. We began to research the address using google. We came across an old real estate listing for the address. We contacted our Real Estate Broker and provided the listing identification number. All real estate investors need an excellent Real Estate Broker, and we are very thankful for ours! Our Real Estate Broker checked the state’s real estate listing service and found the name of the listing agent. He emailed the listing agent and explained the situation, and within a couple of days, we heard from the owner. By this time, the water damage was becoming more severe.

A few more days passed before we could meet with the owner, and fortunately, condominium management met us at the same time. We all entered the unit upstairs and the condominium management identified an old air conditioner as the culprit! Water was leaking from a busted valve! It was perfect timing because our tenant was becoming frantic about the condition of the bathroom ceiling, which was beginning to cave in!

We used HomeAdvisors to find local drywall contractors. We obtained 3 estimates and went with the lowest estimate. Contractors started work within a few days of signing the contract. The worst damage was the bathroom ceiling and walls, so contractor covered everything in the bathroom and began work.

Contractors cut out the damaged drywall in the ceiling and installed plastic and cloth material to absorb any future leaks.

Next up — the living room ceiling and wall damage. Contractor cut out large area of damaged wall, which is just below the upstairs air conditioner. Scraped and patched smaller areas of water damage.

Third and final wall damage is in the small bedroom. Contractor cut out damaged drywall and replaced with new drywall.

It took just a little over 2 days to complete the work! Bathroom ceiling and walls look like new!

We complimented the contractor on the excellent drywall repair of the living room ceiling and walls! He pointed out that they matched the existing paint, which reduced time and cost.

An older gentleman and 2 young workers completed all of the work. It was important to minimize the amount of time because we have a tenant living in the property.

To compensate our tenant for the inconvenience, we gave him enough money to pay for 3 nights at a local hotel. We really appreciated his patience throughout the process. When the water damage was so severe that the bathroom ceiling was about to cave in, he notified us so we could show the upstairs owner and condominium management!

We need to keep an eye on the water supply pipes above the bathroom ceiling. The building is about 50 years old. It is very well built, but has aging pipes!

It’s not very often that we get to see the pipes behind the walls …

Even though this was a stressful experience, we always try to look at the positives, and determine what lessons we have learned … In this case, we learned 3 lessons:

  1. Make sure you have good insurance and keep the policy up-to-date by paying premiums on time.
  2. Maintain a good business relationship with your Real Estate Broker or Agent.
  3. Maintain a good business relationship with Condominium Management Association or Homeowners Association!

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The opinions expressed herein are solely those of the Author/WebMaster. Before taking any action, please consult your real estate, financial, and legal advisors.


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