$30,000 MISTAKE

[Rex King]

I am going to post some random posts on hear of my current successes or failures. Today is about failure and what went wrong.

I have a quote on my visualization/goal board sitting next to me. It states "Risk and Failure are required for success." Well I have failed today. We just closed on a four plex we bought at an auction. I was fortunate enough to see this place before bidding. I am pretty good with homes and know how to fix most items. So I do all our inspections myself. 

We are in MN and the bank decided to winterize this place. I thought no problem I will have my boiler company come in and tune up the boiler and get everything up and running to get me heat. Well it turns out this has a steam boiler and they are a pain in the ***, expensive and old.

Long story short we are spending $30-35k to remedy this over site. We will not instll four separate furnaces and each tenant can control their own heat and pay for their own gas which is awesome for us. Good news is I learned this valuable lesson which I am sharing so you do not have to learn it. And yes I am accepting donations for educating all of you on steam boilers (STAY AWAY!!!!!).

Rex