Hi Guys,
I'm a keen investor wanting to invest in the US hence I've started my due dilligence here by reading as much as I can from investors who've posted their experienced investing in the US. Thanks guys.
Then, I thought about the Bushfire, Qld flood and our drought here in Australia…calamities. US is a vast country and has its own calamities such tornatodo and storm.
If you have already investing in the US whereby your property sits on the Tornado ally, be prepared and hope you bought yourself a building insurance.
The link below show where the Tornado Ally from the map…perhaps if you are thinking investing in the US, much like myself, try avoiding those areas where HIGH activities of Tornadoes is present.
Further, there are investors who invested in Florida which has big problem with its weather such as yearly storm.
In short, to mitigate this risk try selecting an area where such the above calamities aren't present so you can enjoy the fruits of your labour long after the GFC.
Leo,
Depending on how good your insurance is, most rental policies will cover natural disaster. So in any case you will be protected in the worst case scenario.
If you do not have natural disaster coverage and you are in a high disaster zone, you may want to look for a new insurance agent.
Leo,
That’s very good advise, despite the insuranc epolicy covering any damage, as an Australian investor why would you want to invest in an area that is prone to natural disasters.
Where are you looking to purchaseJeff
Hi Guys,
Here in Australia we have our own share of calamities (i.e., bush fire, typoon up North Qld, drought etc). These type of calamities certainly have dire consequence on investment property. Not to mention, the time it takes to rebuild the property if it burned down or ruined by flood. My feel for those fellow investors got caught in the recent Qld flood. As an educated investor, these sort of things that you need to take into your buying consideration hence as part of your due dulligence.
For instance, the recent flood in Qld state whereby there is an issue of lodging your insurance claim because some Insurance company won't compensate the claimants for their claim because of different interpretation of flood (e.g., Natural disaster flood vs burst dam).
I know for a fact that there are more people get killed by Tornado in the US compare with other form of natural disaster. Would this stop me from investing in the US. ABSOLUTELY NOT! – I just got to pick the area whereby not prone from such yearly calamity. As a matter of fact, Tony from http://www.myusproperty.com.au just rang me this morning, and we discussed about about investing in the US which I HIGHLY considering after I've signed my mortgage increase document from lender.
Thanks, Leo
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