Re: Hurricane Harvey Properties

SOOOO....

Bill H's, you are correct, lots of scammers out there. I saw some crazy @#$%&, mostly contractors ripping off these unfortunate people. Everyone I spoke to were willing to take thier insurance settlement and move to higher ground. Happy to have a half way decent offer.

For any investors out there here is what I learned from buying properties in Houston after the flood... WELL WORTH IT!

It took me 30 workers to get to a good crew of 6. Had to build my own crew since my repair estimates ranged from $125-$150k per home. The contractors were making a killing there.

I bought 2 homes, $125k each, $50k in repairs, roughly 5 months of rehab work, current appraisal is $330k, rents are $1800 each. I dont think i can sell today for $330, but as things settle down, I hope to sell these in a few years closer to $370k each home. I am hoping for a profit of $200,000 each unit while I am making a small rental profit each month.

Next flood, I will be shooting for 8 properties.

NotConor

Ward, How have you been?