Roman Viere owns and operates over 1000 rentals in Chicago with the bulk of those in the Austin neighborhood. In this episode, he gives a detailed breakdown on a terrifying explosion that occurred at his 35-unit apartment building in Austin. He discusses all things from the day of the incident including arriving at the scene, speaking with the authorities, and handling the press. Roman discusses insurance implications resulting from the explosion, insurance claims, and a 1033 exchange. If things weren’t bad enough, he talks about his million dollar water bill and how he got around that! Despite never planning for explosions and other catastrophic events at your rental properties, these are events that all housing providers should be prepared to handle for the safety and protection of all parties.
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02:18 Housing Provider Tip: Be prepared to deal with emergencies at your rental properties!
03:16 Intro to our guest, Roman Viere!
03:55 The morning of a tragic event.
10:39 Arriving at the scene.
17:04 Being prepared for emergency events at rental properties.
27:55 Reflecting on the day of the incident.
35:57 Tactical items for dealing with an explosion.
43:01 Insurance implications.
60:13 Insurance Coverage and 1033 Exchange.
65:02 Lessons learned from this tragic event.
67:38 What is Roman’s competitive advantage?
68:25 One piece of advice for new investors.
69:10 What do you do for fun?
69:44 Good book, podcast, or self development activity that you would recommend?
70:41 Local Network Recommendation?
71:36 How can the listeners learn more about you and provide value to you?
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Connect with Mark and Tom: StraightUpChicagoInvestor.com
Email the Show: StraightUpChicagoInvestor@gmail.com
Guest Name: Roman Viere
Guest Company: Urban Alternatives
Guest Link: https://www.ua4rent.com/
Other Links for show notes:
The Bomber Mafia (Book Recommendation)
Greg Yearwood (Precision Consulting / 773-852-8246 / gyearwood1@gmail.com / pcllcclaims.com)
Myk Snider (Sphere Public Relations / 312.816-5401 / myk@spherePR.com / SpherePR.com)
Jeff Riechenbach (State Farm / (773) 685-3600 / jeff.reichenbach.vafdml@statefarm.com)
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