Strategies for Investing in Flooded Homes

[Vijaianand Thirunageswaram]

Many investors asked this question indirectly with me and other networking forums so I thought of posting here.

As we know there is no set rule when it come to real estate because it all depends on the local market. Whether it's Katy, Cypress, Conroe or Meyerland, it's going to vary. Also price wise, how much below you can buy also varies. 

If you decide to buy the flooded homes, 

1. Analyze the neighborhood whether all homes or most homes flooded or just few homes.

2. What's happening? Whether all owners are getting back in the house or many of them quitting and moving out.

3. Whether are too many investors in the market flipping the properties.

4. If too many flipping happening in areas like canyon gate etc., you better have option to hold the property for few years and get back in the market. You might not be able to flip it quickly. If it's just few properties and many owners are staying back in, then you have better chance to flip in the market.

5. Also make sure you do good job on covering yourself with adding additional protection by doing mold certifications and mold prevention measure while doing rehab. 
6. Take as many pictures possible and videos if needed to show to the prospective buyers whether now or later. 

Hope this quick list helps. BTW, I haven't done any flooded homes yet so it's just analysis and strategy which I was planning to suggest for my investors and similar things I heard from networking events.