Just wondering how investors approach natural disasters for their properties. especially if they are interstate.
I’ve only ever had to deal with the 1 in 100 year storm in Melbourne and my insurer managed it with relatively no problem however I think the task was easier because I was IN Melbourne.
Especially with this Innisfail disaster where are investors left in terms of mortgage payments on a property with no roof in a town with 4000 less jobs than last week.
I really feel for the the people of Innisfail as nobody wants to see something like this happen to a small town who’s main industries have been destroyed for the coming year but I imagne the pain also spreads to local and interstate investors who have a big headache to deal with and are left with properties that can’t be rented or sold.
Interested to hear people’s thoughts on how they manage issues that arise like this one and for those that haven’t had the opportunity maybe what approaches you think are good and how to manage the risk.
NATS12
Originally posted by NATS12:…I imagne the pain also spreads to local and interstate investors who have a big headache to deal with and are left with properties that can’t be rented or sold.
Hmmm…. does this present an opportunity to snatch a few bargains?
Quote:[Especially with this Innisfail disaster where are investors left in terms of mortgage payments on a property with no roof in a town with 4000 less jobs than last week/quote]landlords insurance should cover the rents until the property is repaired – then again who is goingto be there to rent the houses – won’t be banana pickers – probably roofing contractors and chipies -maybe some will stay on and make it there new home – sometimes positives come out of natural disasters for housing – old “past used” stock is removed and new stock built with insurance checks (unless you a under insured) -anyway I wish those brave people up there all the best in re building their lives.
cheers
Don
Positive Cashflow NZ Property Deals.Email to receive current deals & Free New Zealand Information Sheet [email protected]Don Nicolussi | Mortgage Broker - Home Loan Warehouse
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