Due to the unfortunate flood in Houston Texas it has created a vast amount of rebuilding on homes. But for the investors this is a great opportunity to assist in the rebuilding process as well as create income and I was curious as an wholesaler; when it comes to homes that has currently flooded what do investors look for and what is the best way to Market to these home owners
The biggest thing I would say, Demarkus is that the house was promptly gutted above the flood level and considered "clean and dry". If the house was NOT gutted, insulation not removed, flooring not removed and/or wet areas not sprayed for mold, there is a potential for many more problems with that property that may not meet the eye.
@Demarkus Fielder I too am a Houston wholesaler and see flood homes on a daily basis. What @Kevin Domschine says is completely accurate. However, there are so many factors now in play such as the number of times it has flooded, was it due to reservoir release on Sunday night etc. The other factors include total rehab cost, was upstairs previously updated etc. There is quite a lot of inventory at the moment, so our investors are picking and choosing with a number of factors in play. But yes, most importantly it's if the home was properly remediated. As soon as you walk into a home you can tell, first from the smell and then by inspecting the studs etc.
Thank you @Kevin Domschine @Joe Davis for the great information I have not heard these piece advice yet this will help me alot when I reach out to home owners
Free eBook from BiggerPockets!
Join BiggerPockets and get The Ultimate Beginner's Guide to Real Estate Investing for FREE - read by more than 100,000 people - AND get exclusive real estate investing tips, tricks and techniques delivered straight to your inbox twice weekly!
- Actionable advice for getting started,
- Discover the 10 Most Lucrative Real Estate Niches,
- Learn how to get started with or without money,
- Explore Real-Life Strategies for Building Wealth,
- And a LOT more.
Sign up below to download the eBook for FREE today!
We hate spam just as much as you