*secret* Investing in the South

[Thirdcoastinvestments.net]

I run Third Coast Investments, llc out of Houston TX and Gulfport MS. I can tell you the hurricane brought a lot of "investors" down south most of the good ones staid. I have personally met with investors from Australia (14 in his group), England (2), Brazil (9), and all over the us (you Yankees love buying up these deals).
Most have found that with our climate to enjoy life year round, investment property is BOOMING! Here is the issue with so many "investors" coming in and buying everything in site. We have found many end up over paying for the property, over paying for the rehab, and then over pricing it to accommodate for there mistakes. Leading to even more holding cost and over all loss.
We OWN the south when it comes to buying property right. If you plan on coming to Texas, Louisiana, Mississippi, or Alabama. Try to partner on deals with investors who know the area. I work with investors from all over the world to partner on SF-Commercial deals. We deal with 1800+ investors in South Texas alone. We are not a club, whole seller, group, program, list, or anything that requires any payment of any kind. I have an office staff that locates deals, does the due diligence, ties up the unit, and comes up with an exit strategy. I simply say "yes" or "no".
I am an investor who likes to partner.
That is it. Plain and simple.

[Dan Auito]

Well said!

[Randy (SELA)]

Are you working the Baton Rouge and New Orleans areas?

[Thirdcoastinvestments.net]

Yes.

[SPIVALAW]

any one miss this: "the hurricane"

history repeats itself?

[Thirdcoastinvestments.net]

If you don't buy property in states that had disasters happen in them were do you buy property. Not in Georgia.
2004 09/24 Tropical Storm Frances
2004 09/18 Hurricane Ivan
1998 03/20 Severe Storms, Tornadoes and Flooding
1995 10/10 Hurricane Opal
1994 07/07 Tropical Storm Alberto
1964 09/10 HURRICANE DORA

[SPIVALAW]

I was kidding
peace

[ThreeRiversREI]

If you don't buy property in states that had disasters happen in them were do you buy property. Not in Georgia.

2004 09/18 Hurricane Ivan

Heh. Ivan even caused enough damage up here in Pittsburgh, PA, that a disaster was declared!

[Thirdcoastinvestments.net]

Anyone decided that the risk was worth the reward down here on the gulf?

[higcorpllc]

I definitely think the risk is worth the reward. I grew up on St. Thomas, US Virgin Islands. After Hurricane Marylin hit in 1995, property prices sank to unbelievable numbers. My father had to sell 1.0 acre of land with a 360 degree view of the island for $360k (split into two parcels). That land was worth at least $1 mil. We also had to sell our condo unit in the only complex on St. Thomas that had a premier Golf Course (Mohagany Run) for 169k. That same unit rents for upwards of $2000/week during peak season and sells for about 299k+.

Disasters are horrible for the people that live there, but investors lick their chops when they see this, and I don't blame them at all. Unfortunately, many do not give back to the community, which I firmly believe in. As Dan says, whatever goes around will come around. This belief is shared by many of the well-known investors throughout the world.