Updated over 5 years ago on . Most recent reply
Erosion Concerns- How to market?
Hello! We have a great little SFR under contract with amazing views of Lake Michigan in a little suburb called Somers, WI.
At the site visit, I checked out the bluff and noticed a huge tree that looked like it had recently fallen into the lake. Upon researching the area, I learned that the house across the street was demolished last Oct as it was falling into the lake and the basement foundation had eroded away. Subject property is not on the bluff, there is a parcel of land, but it is only about 40ft wide that is owned by a local university, that is on the actual bluff.
Michigan has the same problem on their side of Lake Michigan in Grand Rapids, so folks in that area, I'd love to hear from you.
We believe the house still has great viable use as a rental as there are 2 colleges in town and good housing demand.
As an investor, how would you consider this risk as a rental? Looking for input to properly assist my buyers openly and honestly. Darn storms and mother nature! Thanks in advance for your thoughts!