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Mike's Pro Tips: Thinking About Investing in Flooded Homes?
Mike's Pro Tips: Thinking about investing in flooded home?
 
Houston: We still have a problem. Will Harvey flood houses haunt us?
 
When it comes to investments there are plenty of options: stocks, commercial real estate, residential real estate, bonds, Bit Coins, and I'll even say education. 
After the major disaster of Hurricane Harvey that struck Texas in 2017 with historic flooding and a record $127 Billion or more in estimated damages, we have another investment option: flooded homes. 
Suddenly within a month, local investors and major investment funds from all over the United States started buying up flooded homes in Texas at a rapid pace. Private equity invesment firms sent  representatives on foot going door to door or calling home owners attempting to buy entire blocks of homes in neighborhoods affected. Devastated home owners were still recovering and just getting started on the insurance process. Many like myself found out insurance would not cover damages after years of premium payments. 
With a market shortage of homes already prior to the storm, demand would surge higher after as everyone flooded started to scramble for a dry place to live. The current inventory of homes on MLS right now for sale in Houston is about 3 months indicating a strong ... more

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