Investing in Corpus Christi, Texas
Has anyone invested in the gulf coast of Texas? How is it investing when hurricanes hit Texas every year?
Most Popular Reply
Hi Juan,
So a few things:
1. Get flood Insurance. Always.
2. We don't get hit with a Rita or Harvey every year. You just have to be prepared for when we do. Coastal cities like CC and Houston/Galveston are still around because it's nothing new to us and we know how to prepare.
3. Take only as much risk as your cash reserves can afford. FEMA is slow as molasses when it comes to picking up the pieces and cutting you a check. You could be nearly a year with an uninhabitable property in worst case scenarios. Perhaps choose a property a few blocks away from the beach or more so your property doesn't take the full force. Storm surge is usually the biggest threat and many existing properties are built on elevated pier and beam to give them a fighting chance.
There's a cool lady on here who's been investing and doing PM on Galveston forever but I can't think of her name. I'll post here again when I find her name. She'd be a gold mine of info on investing near the water.
Best of luck!