Hurricanes & Real Estate Investing
Hurricane Dorian is barreling toward the southeast, and could hit Florida as a Category 3 or stronger storm within days. Here’s the truth about hurricanes and investing in real estate.
Real Estate Closings
Hurricanes put the breaks on real estate closings. Even if the banks and title companies are open, you won’t be able to get an insurance policy to satisfy closing requirements once a storm is ‘in the box’. After the storm passes end buyers may need a new appraisal, and get it cleared by their lenders prior to rescheduling the closing.
The Truth About Insurance
The truth is that while it is often mandatory to have insurance, it probably won’t pay out. Even if it does, it probably won’t be enough, nor fast enough. Be sure you have coverage for fires, wind and flood damage. Get a great lawyer to help fight for your claim and be sure you have their contact information with you when you evacuate.
Hurricanes Aren’t The Only Threat
No matter where you invest there are going to be risks. Tornadoes, earthquakes, tsunamis, and terror attacks can all bring similar threats to other areas. At least you can prepare for a hurricane and see it coming.
Landfall Isn’t The Biggest Problem
Staying and trying to ride out the storm is one of the worst mistakes people make. The initial impact of the winds and storm surge isn’t the real threat. The days and weeks afterwards can be much worse. It’s the looting, downed power lines, and disrupted business that can really do some of the greatest damage. You’ll never regret getting out of the way. You might really regret trying to stay. Real estate investors need to ensure they and their teams and business partners can run remotely without missing a beat. Or everything can crumble quickly without cash flow and closings.
Risk Vs. Reward
It’s always a balancing act. Some properties just aren’t intelligently built or placed. Can you believe they are still building stick built homes along the Florida coastline? This is especially true of multifamily apartments. Cover it up with a little stucco and no one knows what they are really living in. Other properties may offer the same returns with less risk. Though it’s hard to change the prestige of living by the beach and on the waterfront. The land may still hold the most value, but if you invest in these hurricane prone areas, it’s not if, but when and how hard you’ll get hit. As well as how often.
Disasters Create Opportunities To Help Others
Between homeowners impacted by storms and those wanting access to investments, wholesalers can be those best positioned to act fast and help most. WIth 100% transactional funding and speed, and the ability to work the middle from anywhere, wholesalers can be the biggest helpers.
Top Funding News
|
|
|
|
|
| Linked In | You Tube | Google+ |
"I want thank you for the excellent service I received from Best Transaction Funding.The quick response I received from your company from the beginning of the transaction and to the end was unbelievable. I also want to give a special compliment to you as well. You went to great lengths to keep me informed and gave my title company all the information they needed to complete a successful closing. I cannot express how thankful I am. Such service builds great working relationships. I will definitely recommend Best Transaction Funding to all my fellow investors. Thank You."
- Frank Olaitan, Real Estate Investor, MD
"I can't thank you and your company enough for providing funding for our latest project, and right at the last minute. You came through with funding in less than 24 hours and coordinated with the closing agent and attorneys like you had been involved with our project the entire way. I'll know exactly where to call for the funding we'll need for our next project."
- Dave Pricken, Real Estate Investor, NJ
"Thank you so much! I just had a talk with our Realtor on both properties and told him amazing things about your company!... Normally I rehab the houses and re resells them. I just don't have the patience for that work anymore. This [transactional funding] is such a better way for me and less stress."
- Steven Kupecz, Real Estate Investor, TN
"We want to thank you for the exceptional customer service you provided. No one comes close. We had contacted a competitor the same time we contacted your company. Your company responded with in a few minutes while the competitor has yet to respond weeks later even after multiple phone calls and emails. Thanks again for the unmatched customer service."
"We had looked into several transaction lenders for a couple properties we were trying to flip. Your company was the most responsive and had the best pricing. Even though we had logistics issues with the B/C lender, your company acted very professionally and handled our requests beyond our expectations."
"Thank you for your commitment to an excellent customer experience."
- Phoenix Properties, LLC, Ronald Destefani, Investor, PA
"I was studying on how transactional funding works and you guys had the best and most thorough explanations posted so I could fully understand the details in back to back closing. I'd already started setting everything up but your video confirmed that I'm on the right track."
- La'Donna Turnipseed-Scott, Investor, LA
"....a few months back, I happened upon a video, on your site, regarding the use of transactional funding with Hud properties; and I found myself replaying the video over and over because of the value that I saw in the message...it actually explained the process, step-by-step on how to submit a Hud deal by using transactional funding. Once I completed the video, my initial response was to take immediate action by duplicating what I had learned from the video into real time. So I did some research on properties in a market where I knew I had buyers; and put together a hud deal. I then located a realtor able and willing to submit my bid online and within a couple of days, to my surprise, received a call telling me that I had won – my very 1st Hud bid."
"To you I say, ”KUDOS to Best Transactional Funding and Thank you for providing the education and services to Real Estate Entrepreneurs like me. Please keep up the good work!'"
- T. A. Davis, Investor, NJ
"You each deserve high marks for your wonderfully quick response time to each of our questions and requests! You hit home runs with us! Your application system was easy to use. Our deal met your qualifications and every time Rob Kozak or any member of Mystic Properties, LLC phoned, we received a "real" person dialing back to speak with us.
Your patience and persistence were exceptional in dealing with our business interests. Thank you for such great customer service! We look forward to working with your staff, again, in the future. We like referring people to you, as us, our team would have missed-out on an excellent earning opportunity.
Your help negotiating with our title company made our back-to-back deal, finally happen. People noticed on settlement day how effectively and efficiently your part of the transaction was organized and executed. Again, thank you for truthfully being the "BEST" at what you do!"
- Diane McAdams, Mystic Properties, LLC, Real Estate Investor, Pennsylvania
"Boy, you guys are impressive! I can’t thank you enough for scrambling and getting my deal done at the last minute like that. You and your team were awesome!"
- Donna Bauer, The NoteBuyer Inc., Real Estate Investor, OH
"Thank you so much for working so diligently with me. Your services really are the "BEST". I look forward to working with you in the near future!"
- Ericka B., Real Estate Investor, CA
