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Updated almost 9 years ago on . Most recent reply

User Stats

5
Posts
2
Votes
Ritesh Bagga
  • Investor
  • Dallas, TX
2
Votes |
5
Posts

Buying a house in an area hit by tornado

Ritesh Bagga
  • Investor
  • Dallas, TX
Posted

Hello Friends

I am considering a property for sale in an area that was hit by tornado couple of months back. Lot of properties in that area were damaged, but the house that I am considering didn't get impacted.

The selling price is about 60% of the pre-tornado comps. It might take at least couple of years for that area to get back to its normal. 

1) Would you recommend investing in such area? 

2) Would it be difficult to rent it out for couple of years till the prices go back up for me to sell and make profit?

3) Should I expect damages to the house due to tornado even though they are not visible and might not even be caught by a home inspector?

Any recommendations would be highly appreciated.

Thanks!

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