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Updated over 7 years ago,

User Stats

73
Posts
13
Votes
Aundrea Newbern
  • Investor
  • St. Simons Island GA
13
Votes |
73
Posts

Hurricane IRMA - Recently purchased rental flooded - Need Advice

Aundrea Newbern
  • Investor
  • St. Simons Island GA
Posted

All,

I am in an unusual situation that I haven't experienced before and could use some guidance. I purchased a 4-unit apartment complex in south Georgia less than two weeks ago. I purchased it with an FHA loan and moved into one of the units. I am currently out of town and Hurricane Irma came through. My tenants contacted me and told me there is a foot of flooding in all four units. I do not have flood insurance (I called last week to try and get it and found out there is a moratorium and it wouldn't have been valid even if I purchased at closing). My tenants all will have to find somewhere else to live while I get the place cleaned up. I imagine it will take some time since the hurricane is still active in the area and lots of people are in the same situation. While I don't have the flood insurance to help with the costs, is there anything else I can do in terms of government assistance? Thanks in advance!

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