Finding Pre And Post Disaster Real Estate Deals
Hurricane Idalia is yet another fresh reminder of how every area has some disaster risk.
As a real estate investor it is all about understanding how to mitigate, balance, and profit from that risk, in the right way.
Every disaster threat, from seasonal hurricanes, to wildfires, and snow storms bring their threats and opportunities. Both before and after they hit.
Pre And Post Disaster Real Estate Offers
Many sellers will be willing to offer big discounts, just to get out and put some cash in their pockets before a coming disaster, or disaster season.
If you have the stomach for it, and good strategy and tactics that mitigate the risk, you can acquire properties at deep discounts that end up not being impacted at all.
Post disaster, many owners will just be too scared to go back, or tired of living through these annual storms, even if their properties were not affected at all.
Of course, you should always have properties inspected after a disaster like this, or price your offers to include the worst case scenario. It is not uncommon for unscrupulous investors to try and cover up flood damage and mold.
Get your Proof Of Funds from Best Transaction Funding now, so that you can get out there and make offers with confidence.
Making Offers With Care
Just because sellers are highly motivated or desperate does not give you a pass to abuse them. Make offers with care and etiquette that help them. While allowing yourself to be fairly compensated for your part.
Just as it would be in pretty bad taste to be calling your tenants demanding rent right in the middle of a hurricane. Or making your team be out on the job in unsafe conditions, without giving them time to protect their homes and families first.
After the storm, you need to consider how you will kindly deal with desperate renters applying or buyers who need a roof over their heads.
Often during the post disaster period property prices can actually skyrocket due to reduced inventory, and thanks to many buyers being rich with cash from insurance payouts.
Submit your Funding Request and get your next deal financed today.
Insurance
Even if not necessary, insurance can be wise in these circumstances. Just understand all of the loopholes insurers use not to payout, and how long the lag time between damage and claims being paid can be. It is not uncommon for that to take years, and lots of negotiations.
Investment Strategy
Some areas will just keep on getting hit year after year. Some will keep rebuilding. Others will grow tired and give up. Or authorities will acquire land and temporarily block development.
Consider whether this is a good area for a buy and hold, construction heavy fix and flip, or just a fast in and out wholesale deal.
Check out our MEGA interest rate sale, with rates from just 1% this fall!
Top Funding News
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