Financial Damage of Colorado Killer

oldtime · Jul 21, 2012

I'm watching on the news and the police are totally disrupting somebody's otherwise conservative investment.

You count your cost, you buy an apartment building, you tighten your belt, and hold your breath, and then one night, some crackpot destroys your whole life savings.

Who is going to repay the owner of the apartment building for all the damage?

I've heard of flood insurance, fire insurance, earthquake insurance, but do they have crackpot insurance?

This poor guy, unless he is charging the media for access, can kiss goodbye whatever he projected he would make on that apartment, or for that matter the whole building.

It's a shame

FreakofNature · Jul 21, 2012

Quote from oldtime:

I'm watching on the news and the police are totally disrupting somebody's otherwise conservative investment.

You count your cost, you buy an apartment building, you tighten your belt, and hold your breath, and then one night, some crackpot destroys your whole life savings.

Who is going to repay the owner of the apartment building for all the damage?

I've heard of flood insurance, fire insurance, earthquake insurance, but do they have crackpot insurance?

This poor guy, unless he is charging the media for access, can kiss goodbye whatever he projected he would make on that apartment, or for that matter the whole building.

It's a shame

The lunatic who rented it, if he is unable to, the government.

pupu · Jul 21, 2012

Guy goes to college to study neurobiology
Turns out as brilliant student and gets his degree
After graduating only gets a job offer from... McDonald's
Goes Postal

We're lucky that no more recent graduates are blowing up like this in today's economy

oldtime · Jul 21, 2012

Quote from pupu:

Guy goes to college to study neurobiology
Turns out as brilliant student and gets his degree
After graduating only gets a job offer from... McDonald's
Goes Postal

We're lucky that no more recent graduates are blowing up like this in today's economy

yeah, but I don't care about the kid, or what caused him to go beserk, I care about the poor guy who rented him an apartment.

The kid will spend the rest of his life in jail, three squares and a bed, but what about the owner of the apartment complex whose property is getting destroyed daily?

trade2live · Jul 21, 2012

direct ownership of RE is not a conservative investment, I guess this is part of the risk of owning property. Anyway landlords in these type of apartment building complexes are usually out to milk tenants all they can, I would tell him to see it as cost of doing business .

oldtime · Jul 21, 2012

Quote from trade2live:

direct ownership of RE is not a conservative investment, I guess this is part of the risk of owning property. Anyway landlords in these type of apartment building complexes are usually out to milk tenants all they can, I would tell him to see it as cost of doing business .

I recently sold my house and moved to an apartment. My landlord is very good, he gives me good value for a wonderful old apartment (built back when they cared) and fixes anything immediately if it goes wrong.

Where you get this idea that most people are any one way is just a stereotyipcal shortcoming on your part.

But I will say this, most people who reply to threads I start are total idiots.

Thanks for the reply

Buy1Sell2 · Jul 21, 2012

Quote from oldtime:

But I will say this, most people who reply to threads I start are total idiots.

pbq

denner · Jul 21, 2012

Oldtime is drifting into Stock777 territory, slowly but surely...

southall · Jul 21, 2012

In the uk there is landlord insurance

Landlord buildings insurance covers the cost of any damage to the structure of your home whilst it is rented out. Most mortgage lenders will require that you have buildings insurance in place.Landlord buildings insurance policies cover you for damage caused by incidents such as:
Storm or floods, fire, smoke, explosions, lightning or earthquakes.
Escape of oil or water, frost damage to water, drainage or heating installations.
Subsidence.
Theft or attempted theft.
Collision by vehicles, machinery or animals.
Falling trees or branches.
Malicious persons or vandals

Fire, smoke, explosions, Malicious persons or vandals that should cover it.

peilthetraveler · Jul 21, 2012

I wouldnt worry too much about the apartment owner. When an Apartment owner rents to students, they always make the parents co-sign. Even if it takes awhile to get money from the parents, the apartment owner is losing what....$600 per month?

Lets talk about the real damage. Lets talk about the movie theater owner. That single theater is losing well over $10k in revenue per day that it is closed. The shareholders for the parent company lost over $126 million dollars on Friday from the stock drop.