Updated about 8 years ago on . Most recent reply
Smart money in the aftermath of Harvey.
I own SFRs in Humble, specifically choosing that area to invest and live because of the lower flood risk, but haven’t bought yet this year for lack of deals meeting my strict criteria, so I have some capital.
What is the smart money going to be doing going forward?
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Jay Hinrichs
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Jay Hinrichs
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I suspect there will be a lot of distressed real estate.
1. lots of flooded houses with no flood insurance/ owner does not have funds to fix
2. tenants have to move out/ land lord does not have enough reserves so start to hemorrhage paying on vacant non rentable houses.
3. foundations going all haywire because of flooding and soil movement
4. people deciding they no longer want to live in a flood prone area and just abandon ship and move somewhere else.
what will be interesting to see is if the Feds create a GOZONE type tax play like they did for Katrina that really stimulated the ecnomy and brought in investors from all over the US.
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