What is the buyers market for these neighborhoods? Is it worth buying here, or even trying to do a wholesale assignment with a flooded house in a flooded neighborhood?
Its all about the #'s.
65% of ARV minus actual repair cost.
Most homes I have seen are selling for @ or above pre-Harvey pricing.
Thank you Jeph R. for your reply. So I have a buyers list. Even if the #s are good should I expect these properties to be less attractive to buyers because of the flood liability in the future?
People have short memories and think stuff like that will never happen again......personally I would never buy in those areas unless I'm flipping it and moving on.....no way would I buy a long term buy and hold there.
I just sold my property in Kingwood.....flooded all around the neighborhood but not near my property...it was a stressful 2 weeks..... really don't want to do that again....dodged a big bullet with no flood insurance and I'm not counting on dodging mother nature again
Its the Bayou city, its not "if" its when something flooded.
Every property offers some complications. Flood isn't a deal killer.