How will flooding from Harvey affect your investing strategy now?

[Kevin Nguyen]

Even houses in 500 year flood plain areas (0.2% chance of flood per year) flooded!  Just by terrible luck, these areas flooded even though flood maps showed the risk was minuscule. Maybe these maps were wrong.  Maybe this is a once in a lifetime event.  

Two questions:

Now that we have all seen the devastation of Harvey how will this affect your investing strategy in Houston?

 Will you still buy and hold confidently in 500 year flood plains thinking that these floods are statistically rare?

[Charles Fletcher]

I own 4 properties in Humble. None flooded, and before buying each of them I stood in the house and checked the actual elevation because I’m terrified of having a rent house flood.

For me, I’m sure that there will be plenty of great deals in areas that I was targeting before, but with 3 big floods in 3 years, I will probably only buy homes that Harvey didn’t damage. I’m risk adverse when it comes to rising water.