Buying real estate in Houston

[Account Closed]

Do you have any advice for buying real estate in Houston after the storm? What types of properties make sense to buy and what types of property do not make sense to buy? Does it make sense for out of state investors?

[Fred Heller]

I assume you're considering flooded properties that need rehab? There will be a flood of flooded properties at discount prices. My problem is why would you want to buy a house that has already flooded and will likely flood again?

It's a little early but I've been keeping an eye out for deals for my clients. I won't recommend properties that are in a flood zone. But I have seen a few that are not in a flood zone and this was a fluke. An example would be homes that were flooded because of the water released from the dams. Those homes are not in a flood zone and have never flooded before. And unfortunately, those are the people who didn't have flood insurance because they didn't think they needed it. Those are the ones I would look at.