Proceeding post Hurricane Michael

[Ryan Hall]

As I was about to close on a first position heloc that would provide the 3.5% down for an owner occupied 5 plex, Hurricane Michael hit the rental property. My hurricane deductible is 12,500. I have 15-20k in damages. Admittedly, I wasn’t aware of the massive disparity between my 2500 deductible and what my out of pocket expenses would be if a hurricane hit. Now instead of paying that property off at an accelerated rate while leveraging equity for a multiplex, I am unsure of what to do next. The insurance company is waiting on contractor quotes, the roof damage is tarped. I don’t know if calling the lender would do more harm or good. Looks like I will resign my apartment lease I guess. I’m not sure what to ask. I am sure your input would be helpful. Thanks in advance.