Investing in Flood Damaged property

[Ryan McKelvey]

I am a real estate broker and property manager in Jacksonville, NC. One of the hardest hit areas from Hurricane Florence. Just reaching out to get advice on investing in flood damaged properties. Any flippers or buy and hold investors have prevIous experience doing this in other areas after natural disasters? Too risky? What precautions did you take to ensure it was worth the risk? Thanks, Ryan

[Aaron Beauchamp]

@Ryan McKelvey Yes, I hate to say it, but we saw a very large number of transactions after Harvey. People need homes and property vales weren't that affected in the city as a whole; If there were dips in value then the whole neighborhood dipped not just that home. The homes that didn't flood also skyrocketed in value so if your buy and holding they made good investments if you moved on them quick enough. Also investors started to understand quickly that looking at 500yr flood properties that don't need insurance and might not ever flood again was the niche of Harvey. I can only speak from the experiences that I had during that time; I have heard from some investors that things have gotten tough and competitive after the storm.