My rentals flooded during Harvey, no flood insurance, what now?

My rentals flooded during Harvey, no flood insurance, what now?

Real Estate Investor and Lender · Katy, TX · Member since 2017 · 32 posts · 3 votes

Thanks to Harvey, my rentals located in 500 year flood zone are now flooded. What are the things that I need to do now? 

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  • JD MartinBusiness Member
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    Rock Star Extraordinaire · Northeast, TN · Member since 2015 · 10k+ posts · 17k+ votes
    9y

    Mitigate damage as soon as it is safe to do so. Coordinate with your insurer, who will likely decline. Get in touch with your local FEMA representatives to see what assistance might be available.

    Skyline Properties
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  • Rental Property Investor · Mercer Island, WA · Member since 2008 · 22k+ posts · 14k+ votes
    9y

    Both FEMA and the CDC have information on their web sites about how to deal with the damage.

  • Investor · Princeton, TX · Member since 2014 · 1k+ posts · 1k+ votes
    9y

    @Shu Zhu   How deep was the water?  Were they occupied?  How many units do you have?  If you have the money and don't have to wait for insurance move very quickly because there is going to be a major shortage of housing?

    If you do not have the money you should be able to get an SBA low-interest loan via FEMA to rebuild.

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