About 8 days ago I was appointed to take over an apartment complex in Columbus. The owner had abandoned the place and we soon found out that there were multiple water line ruptures in the vacant units.
The temperature was dropping and the gas company was moving at a snails pace. Even if we could get gas turned on, which was questionable, I have no idea if we could have gotten the furnaces fired up without a lot of repair or replacements. Fixing the brusts was not a problem, but keeping the other lines from freezing was about to become an issue.
This was one of those "I learn something new every day", days.
The lender is a community bank that has a lot of rural borrowers. From what I understand, farmers sometimes insulate their foundations with bales of hay.
Huh? Say What?
A couple of calls later, I had found the right guy with the right tools (150 bales of hay) and he was on the way to the apartment complex to wrap the building, 1 row high, with bales of hay.
Bales are about 24 inches high and the water lines are about 18 inches from the ground on the exterior walls.
Cost to Repair 1 Emergency Burst = $350 ++ depending on location
Cost of Straw Bale = $3.00 delivered x 150 = $450 to insulate buildings pipes
Other things I learned that day:
•1. There is a difference between straw and hay, yet I still don't know exactly what it is.
•2. 70 year old hay delivery guy is in better shape than I am.
•3. If you look up Stupid City Boy in Websters, you will see my picture
•4. The Code Enforcement Guys do not like bales of hay stacked on buildings
•5. This actually works. Whodathunk?
Do you have questions about distressed assets, receivership or bankruptcy sales, auctions? Email me at rfk@gryphonusa.com and I'll try to answer it in an upcoming post.
Richard F. Kruse is the President of Columbus, Ohio based Gryphon USA, Ltd. (www.gryphonusa.com). The Gryphon Organization includes Gryphon Asset Management providing receivership and consulting services in the distressed marketplace, United Country Gryphon Realty & Auction Group (www.ucohiorealty.com & www.ucohioauctions.com) providing real estate brokerage and auction services throughout Ohio and OnlineAuctionUSA.com (www.onlineauctionusa.com) providing commercial asset liquidations from the Midwest to East Coast.
United Country Gryphon Realty & Auction Career Opportunities Available. Call 614-885-0020 x 17
I love it and you know - you can always save the hay and this winter have hay rides and sing carols - great fun.... or maybe a small maze for the kids at halloween.
Rich, What a Hoot! This is a great story and a way to Save the Day! Thanks for the post and the chuckle!
Rick
Too much!
Hey- if it worked, great.
I've loaded / unloaded hay bales before, it's a royal pain - that 70 year old guy is in better shape than people half his age!
Want to know the difference between straw and hay???
STRAW: used for bedding on farm animals. Usually made up of fields cut with only weeds
HAY: used to feed farm animals. Usually made up of good grasses (alfalfa, etc.) stuff the animals like to eat.
Now you learne something else.
From a farm girl to a city boy... LOL