Burn That Belly
New member
x
Donald Trump counseled Trump University students to take advantage of the housing bubble as an investment opportunity and said, just a year before it burst, that he was ?excited? for it to end because of the money he?d make.
?People have been talking about the end of the cycle for 12 years, and I'm excited if it is,?
Burn That Belly said:I concur that it has to be all cash. But many nice Houston homes aren't that expensive to begin with. They're like $150-250K. With all the flood damage, I reckon cash buyers should be able to buy them as-is in the condition it is in for very little money ($75-100K ?) considering almost everything just above the foundation would need to be gutted and start over. All the contamination and filth going into the drywall, studs, insulation, electrical, cabinets, etc. It is going to be a massive remodel.
You're right. It's time to put money into construction as well.
I wonder if Builders are flocking to Houston soon. Huge opportunities to rebuild tri and quad level condos. They can make the first floor be parking structure or something. That way, if it floods again, it would only be the parking lot and not the homes.
Burn That Belly said:eyephone said:Burn That Belly said:I concur that it has to be all cash. But many nice Houston homes aren't that expensive to begin with. They're like $150-250K. With all the flood damage, I reckon cash buyers should be able to buy them as-is in the condition it is in for very little money ($75-100K ?) considering almost everything just above the foundation would need to be gutted and start over. All the contamination and filth going into the drywall, studs, insulation, electrical, cabinets, etc. It is going to be a massive remodel.
You're right. It's time to put money into construction as well.
I wonder if Builders are flocking to Houston soon. Huge opportunities to rebuild tri and quad level condos. They can make the first floor be parking structure or something. That way, if it floods again, it would only be the parking lot and not the homes.
Are you kidding me? Potential water damage and mold. As a RE investor, might be more liability than opportunity.
Unless you rebuild from scratch.
That's why I said everything above the concrete foundation would have to be gutted. You're essentially just paying for the land and foundation.
eyephone said:You "might possibly" make high gross margin if you sell bottle water there.
Compressed-Village said:eyephone said:You "might possibly" make high gross margin if you sell bottle water there.
It's not always about profit. Times like these we SHOULD, think about how we can help. Basic necessity such as water, and a warm bed, often taken for granted.
Good thing is there is a lot of emergencies resources geared up. The best that I can do is to donate some small sums of dollars to a trust worthy organization to help.
eyephone said:Just saying...http://nypost.com/2017/08/29/stores-are-hiking-up-prices-for-flood-victims-in-houston/
I wonder if you feel the same about the potential homeless shelter. "Think about how we can help"
Burn That Belly said:Fewer than 2 out of 10 Houston residents bought flood insurance. Estimated that over 85% of residents have no insurance.
https://www.yahoo.com/news/flood-insurance-policies-plunge-houston-past-5-years-161335987.html
However, the flood insurance is typically managed by the government's National Flood Insurance Program (NFIP), but is already in debt $23 Billion before Harvey.
http://www.foxbusiness.com/politics...-further-into-debt-as-harvey-slams-texas.html
I think the tax payers are going to bail out this one.
"If a man catches a disease in Winterfell, the people send their regards. But if the entire Winterfell is ravaged and devastated by the disease, all of the 7 Kingdoms shall bear the burden." - BTB
Burn That Belly said:Should be some pretty sweet deals. As Michelle Obama once said, 'When they go low, you go high'. I believe Houston is going low now.
Totally a buyer's market out there now. Houston will recover. They always do.
Burn That Belly said:FEMA doesn't pay out much. The average payout was $7-8 grand during Sandy and Katrina. That'll be enough to put the drywalls back up with no roof, no paint, no lights, and certainly no flooring. No countertops, no appliances, no cabinets, no nothing.
They should take that $8 grand, cut their losses, and move to Victorville, CA. They will NEVER EVER worry about torrential rain again.
http://www.theadvocate.com/louisiana_flood_2016/article_22c86fe0-64cd-11e6-9bb2-07f95d36ee28.html