Hurricane Irene

I owned a condo in VA bch for 16yrs- rented by the week- cash flowed over $40k yr. Sold it last year, the BP spill made me too nervous and besides it had been a cash cow for yrs.
I have been looking in the last few wks for another one or two there. The prices have dropped and seem will continue to drop even more now.

I have an aunt that had a beach house on the FL. gulf coast. I remember her having a problem with her ins. co. after a big storm. Make sure that your insurance will cover both wind and water damage, PLUS flood damage. Ask question when buying your insurance - know what it will or will not cover - don't wait until you need it and find out you don't have flood insurance.

Also, hurricane shutters are expensive, especially if you have more than one beach property to protect. So, when you're doing your rehab, buy extra sheets of plywood and have it stored on the property and use it when neccessary to cover windows and doors. (When hurricanes are predicted, plywood sells out fast.) If you're renting the property on a weekly or monthly basis, don't count on your tenants to protect your property. If you are not close enough to go board up the windows, have a handyman or someone you trust do this for you - and don't wait to the last minute to ask them, because they might have their own property to take care of also.

Keep records and reciepts of furnishings and appliances in the house. Maybe even a video recording of every room, again for insurance purposes.

Thanks Mike and Sandi...that was the kind of information I was hoping to hear...the good, the bad and the ugly.

I used to live in Pensacola and left right before the devastation of Hurricane Ivan and Dennis.

All the best to the both of you!

Ron and Ingrid
Denver

Good info, thanks!!