Would Hurricane Sandy affect anything..

Question

For investors? and in my area many homes have been damaged and destroyed. Would this be a good thing for investors to look at and try to not only get some deals but also help out homeowners as many may have no where else to turn to, OR should you just stay away from these houses that have been watered damaged/burnt?

Any inout would be great!

Timothy W. · Answer

John,
The Northeast is hurricane country on a cycle.  That cycle was last here in the 1930s-1960s when the northeast was hit by a Category 3 Hurricane every 3 to 4 years.  If you have a chance, look up "Hog Island" in New York.  It no longer exists but used to be a resort island in New York.  The word I am hearing verbally is that the cycle is coming back.  If I can find a link to anything beyond the historical data I mentioned I will let you know.

Tim

Jon Klaus · Answer

Tim, are you saying that hurricanes will increase in the Northeast?  Any links on this?

Timothy W. · Answer

Shannon,  I'm on site here adjusting storm claims (the flag in my profile photo is at the Nat. Guard's mobile command center on Rockaway beach) and I would do it in a heartbeat, even after being in the thick of it here now.

Frankly I'm thinking of getting into some of the properties that were  damaged by the hurricane and remodeling them into luxury homes with systems set up to keep the house running during hurricanes, flooding, etc....  There are ways to do this.  Disaster and prepping for disaster is my thing and no offense to Long Islanders, they are great people, but they are woefully unprepared for dealing with hurricanes and the new reality is the Northeast coast is hurricane country.  I have no doubt people would pay a premium for a house that would continue to provide its own heat, hot water and electricity when the whole neighborhood goes down.