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re: What will the flood do to the housing market here?
Posted on 8/16/16 at 4:55 pm to dualed
Posted on 8/16/16 at 4:55 pm to dualed
It did in Cedar Rapids, but our flood was over 1B in damage. I think private property was 858MM, and public buildings more than that. Bad deal for me.
What is the estimate there for dollar amount of residential damage?
Rental property owners here got both CDBG monies, and LOST monies. CDBG will be tied to affordable housing. You'll get. The same if your state and local gvts are organized, and if there is a federal declaration.
State is the eligible recipient. They make a state action plan, and. Locals get monies from there. It takes time as FEMA comes in a does an audit, probably 5 years down the road. Both state and local could pay funds back.
I was pretty involved here. We developed business jump start out of federal monies, first in the nation business funding, and developed a rental property rehab program from federal monies as well.
So will rental houses get rehabbed? Depends on level of organization. Will bargain rentals become available? Yes. Will there be opportunity to flip? Our guidelines were the recipient needed to own for five years.
It was a long painful process, but if there are some organized rental property and business owners down there with some political connection, I'm happy to turn over what we developed.
I've been thinking about. You guys down there. Lots of good people on the outdoor board doing great work.
You might want to share this post on both outdoor and ot, and see if there are some people willing to organize, get aggressive, and get some. Recovery money directed where it might not otherwise be directed.
Flood cost me 700,000, and I got about 125,000 I would have never gotten as a landlord and business owner.
Only good thing that came out of it was the local election, and the business guys I met when we got organized. They actually had us meet the head of FEMA at that time, and I suspect some of the programs we developed can be copied.
A word of warning, if you lost your arse, and lack patience, this is going to be tough. We had shouting matches with elected guys regularly. It was tough, and I'd never want to go through it again.
What is the estimate there for dollar amount of residential damage?
Rental property owners here got both CDBG monies, and LOST monies. CDBG will be tied to affordable housing. You'll get. The same if your state and local gvts are organized, and if there is a federal declaration.
State is the eligible recipient. They make a state action plan, and. Locals get monies from there. It takes time as FEMA comes in a does an audit, probably 5 years down the road. Both state and local could pay funds back.
I was pretty involved here. We developed business jump start out of federal monies, first in the nation business funding, and developed a rental property rehab program from federal monies as well.
So will rental houses get rehabbed? Depends on level of organization. Will bargain rentals become available? Yes. Will there be opportunity to flip? Our guidelines were the recipient needed to own for five years.
It was a long painful process, but if there are some organized rental property and business owners down there with some political connection, I'm happy to turn over what we developed.
I've been thinking about. You guys down there. Lots of good people on the outdoor board doing great work.
You might want to share this post on both outdoor and ot, and see if there are some people willing to organize, get aggressive, and get some. Recovery money directed where it might not otherwise be directed.
Flood cost me 700,000, and I got about 125,000 I would have never gotten as a landlord and business owner.
Only good thing that came out of it was the local election, and the business guys I met when we got organized. They actually had us meet the head of FEMA at that time, and I suspect some of the programs we developed can be copied.
A word of warning, if you lost your arse, and lack patience, this is going to be tough. We had shouting matches with elected guys regularly. It was tough, and I'd never want to go through it again.
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