Hurricane Harvey slowing down my REI

[Gabriel Benavidez]

So hurricane Harvey was very devastating to all the houses in Houston but luckily my rental property did not suffer any damages whatsoever but I did end up loosing my truck that was paid off for so now I have to take on a new truck payment and won't Be able to save as much money as I wanted to for my real estate investing. It seems like this is going to slow me down quite a bit, which is pretty depressing, but people have it way worse than me so I have to be thankful that only lost my truck

[Jay Hinrichs]

@Steve B.  I was quite active in MS during Katrina  and I saw two things

1. flooded cars.. all sorts of flooded car title and cars on the market at steep discounts.. I suspect this person can get a new truck pretty cheap if he does not mind a flooded title.  they are a little smelly but other than that no damage. if water just came up and filled up the cabin.

2. yes.. I saw today on the news a few apartment complexs with water up to the first floor windows which mean first floor flooded.. my experience in Katrina when I looked at a few apartment complexs there post Katrina that had flooded.. they needed to be completely vacated.. and bottom floor and some times top floor dry wall and every thing ripped out.. mold grows there like nobodys business its like living in a petri dish in that area of the country.   The deals I looked at were from investment groups that lost the properties or got some insurance and were walking away.

Just like SFR's if you have syndicators or investment groups with Multi and there is no flood insurance .. there is going to be those that can't hang on and will lose them.. and on top of that.. Texas can be pretty tough on deficiency judgements.. I am hoping GOVMIT steps in and precludes lenders from chasing deficiancies from those that lost their homes.. for investor groups they may not have the same protection.. so General Partners who might have thought it a good Idea to PG a deal may have an unhill battle. and investors to save their properties are going to have some cash calls I suspect.

where it gets dicey in these deals is when some investor simply don't want to do it forcing bigger cash calls on the remainder folks.. this is not good... there will BE multi sitting vacant and abandoned and some deals for people to pick up I have no doubt.