Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 54%
$32.50 /mo
$390 billed annualy
MONTHLY
$69 /mo
billed monthly
7 day free trial. Cancel anytime
×
Take Your Forum Experience
to the Next Level
Create a free account and join over 3 million investors sharing
their journeys and helping each other succeed.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
Already a member?  Login here
Buying & Selling Real Estate
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 6 years ago on . Most recent reply

User Stats

190
Posts
117
Votes
David Campbell
  • Investor
  • San Diego, CA
117
Votes |
190
Posts

The hurricane FLORENCE saga and some questions

David Campbell
  • Investor
  • San Diego, CA
Posted
Good morning fellow BPers: I’ll get right down to it. I’m at the tail end of my first 1031 deal (hurray). Sold a property in Los Angeles and was able to buy three townhomes in, yup you guessed it, Eastern North Carolina. I closed on the first property two days ago, with no mortgage. Well, to my not so surprise, no insurance lenders are finalizing policies until after FLORENCE passes. So yes, it has zero insurance (not hurray). If you vomited in your mouth a little bit, don’t worry you’re not alone. So, what are my options? For those resounding folks thinking it, let’s all say it together, “you’re screwed.” Ok thanks for knocking that out. Now, I am searching for viable options moving forward for those who 1. Know more about this than I do and/or 2. Have been through something similar. With regard to the other two, closing is not scheduled until after FLORENCE passes so that’s an interesting problem set as well and one which I am open to advice as well. My family is safe and out of the area, and I will be manning the emergency operations center on base (I’m military) until we get the all clear to poke our heads out. Thanks in advance.

Most Popular Reply

User Stats

190
Posts
117
Votes
David Campbell
  • Investor
  • San Diego, CA
117
Votes |
190
Posts
David Campbell
  • Investor
  • San Diego, CA
Replied

@David Cruice Thanks for the info. Luckily, all three properties made it out (relatively) unscathed. They are all co-located in the same neighborhood and though it's located in the middle of the city, it happened to be on just enough of a high ground to avoid flooding. The wind did minor damage but nothing compared to absolute destruction that much of the city has seen.

Loading replies...