Hurricane Ike left in its wake a path of destruction and devastation. In real estate, Homes, buildings, schools, shops and even whole communities have been uprooted and upturned if not totally obliterated by the Category 3 hurricane. It is estimated that Hurricane Ike left a swathe of damage worth US$22 Billion, making it the third costliest hurricane after Hurricane Katrina in 2005 and Hurricane Andrew in 1992.
But more than its tremendous impact on the country’s economy is Hurricane Ike’s effect on the lives of millions of Americans. Beyond the billion-dollar damage wrought about by the hurricane are actual shattered homes and the families who lost them. Some of these homes may have held a lot of sentimental value before the hurricane hit. But all that is gone now. Still a number of these homes may have been last investments of their owners, who now find themselves homeless and indebted. Indeed, this is a sad time for the country.
But where there is despair and devastation, there is also a sparkle of hope – especially in the real estate industry which has been suffering setback after setback for the past months.
With all those damaged properties, thanks to Hurricane Ike, Real Estate is almost certainly going to bloom in Houston and in the general Texas area – with people wanting to buy new homes after their old ones have been decimated by the hurricane or real estate investors looking at bargain deals out of all the wrecked houses. Looks like a whole new world of opportunity to me but let’s get something straight.
No one wanted Hurricane Ike to cause this much destruction just so we could profit from everyone else’s loss. No one’s happy or thankful with what the deluge left in its wake.
But we also got to be realistic about this. It so happened that this is one of the few opportunities that actually arise from tragedy. And as this event truly is horrific to say the least, it also poses for us, real estate investors, a chance to make a few bucks and contribute to the quicker recovery of our hurricane- ravaged communities.
The only downside is that repair costs as well as time constraints would surely be cutting into profit margins. Not to mention, some of us might be accused of opportunism and profiteering. We’ll be treading treacherous grounds that had just been recently pummeled by Hurricane Ike so caution and prudence need be optimized.
But the prospect of making money in real estate is there. No one will be able to deny that. The success you would be reaping through real estate despite the hurricane’s aftermath only depends on how keen your sense of propriety is, and how discrete you are, as well as how intelligently you would be able to package your deals and offers. You just remember that it’s not always the profit that counts but the service you would be able to offer to a fellow American who had just lost his home.
At least we would be able to have an opportunity not only to earn money in real estate, but more importantly, to be able to help others rise up after being battered by the hurricane.
