The hurricane FLORENCE saga and some questions

[David Campbell]

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.

[David Campbell]

@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.