There are deals for savvy real estate investors in Las Vegas and Nashville.
Disasters tend to weed out the settlers who want to leave town and start over somewhere else. I have seen that first hand in Nashville. Get on Craig’s List and look at the huge discounts in some properties that were flooded and most likely, will never flood again. (Shhh)
These investments are not for the faint of heart. There’s a lot of work to be done and the new EPA guidelines about lead paint removal are kicking in. Some folks without dry drywall are throwing in the towel, literally.
Will some of those properties always be cursed? Hard to tell. Others can not get a building permit to rebuild, so beware. But there are opportunities.
Las Vegas and Phoenix, on the other hand will probably have another dip on prices coming very soon, according to the Bloomberg news.
Sales are down since the tax credit ended, which means there will be more inventory to move. That’s inventory left over from the last housing bubble.
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- The Great Nashville Flood of 2010 Hits Well-known Landmarks (roughstock.com)
- Tennessee: My Home, My People (newsbusters.org)
- Increase in Las Vegas Short Sales & Distressed Properties Seen in 2010 (prweb.com)
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