CTW 062: Hurricane Michael and Multifamily
As real estate investors, we learn to be opportunistic. We look for distressed sellers in distressed situations. Why? Because we usually are able to get these properties for a discounted price. Divorce, death, partnership tensions, foreclosure, natural disaster etc. You name it, these are all opportunities.
Speaking of natural disasters, opportunities will exist on the east coast due to Hurricane Michael. There are many apartments that got damaged but the biggest damage may be in the single family and trailer homes.
And because of the damage to the homes, investors are able to jump in afterwards and buy for discounted prices.
And because of the decrease in available single family housing, there will be an increased demand for multifamily apartment housing.
Two sets of opportunities for real estate investors.
Remember, you are assisting with bringing these communities back together while providing a place to live. Investors are usually the ones who help turn things around for the better.
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