What’s Happening in St. Petersburg, Florida Post Hurricane Milton

so I'm currently in Shore Acres which is one of the neighborhoods here in St Petersburg that was absolutely decimated by Hurricane Milton and the rain and this was on the heels of hurricane Helen which they flooded out as well and this neighborhood is one of those gems in the Tampa Bay area but just continues to see challenges um from the reoccurring storms and the Hurricanes that we keep dealing with here and this this neighborhood is it's not new when this neighborhood floats this was one of the neighborhoods that floods when it when it even talks about raining and um it's really sad the thing I wanted to highlight here is uh last week I made a video and we'll link that up top here where I talked about how property values actually go up after a hurricane and I'm going to link um one of the studies that I cited um in the description down below so you guys can go check that out because it's a fascinating read and what it says is they studied I think from the beginning of 2000 through roughly 2016 and what they found was that property values tend to go up in the 3 years post hurricanes and people said you are full of it um that can't happen and I and I want to share with you that study because it's crazy the way that things work and let me explain a little bit of why typically what happens is not everyone has the ability to come in and renovate or rehabilitate their property and what ends up happening is because this land is so attractive in terms of its value the home may not be but once you build these homes up off the ground you know you get them off off the uh sea level um you can build these houses up 10 13 ft High all of a sudden it becomes a very attractive property for people who are flushed with cash so you've got investors who come in and tapa Bay has already been one of those areas over the last 5 years that the amount of institutional investors in the area has grown tremendously um and people take advantage of situations like this am I a proponent of that no am I a proponent of capitalism yes you know I'm I love the fact that we're able to um in this country make something out of nothing but I really think that there are some definite unscrupulous activities that take place and let me explain what I mean by that if someone doesn't have the ability to renovate their property a institutional buyer or an investor comes in and um is willing to partner with them what do I mean by that like hey I'm willing to give you pennies and the dollar for this property and they are okay with it and they know that they could get more money at market value but they just don't want to deal with it um if they were to list their property or to sell it to anyone else but they just don't want to deal with it anymore that's a fair and transparent transaction and I'm I'm all about that but but if the investors come in and they are trying to take advantage of people that's when I personally have a problem now that activity has been taking place for a very long time that's how a lot of people make money it's called wholesaling that's one way there's lots of different ways that people do this um but wholesaling is one of the most popular where they come in offer you penties on the dollar and then someone who gets that contract signed will literally just go sell it to another investor they'll make money by selling that contract sometimes 3040 $50,000 just by passing that along to someone else who wants to uh come along and take advantage of that situation so I'm going to get deeper on this subject not the not to be negative on I just want to highlight some things right because there are people here who have been given these properties U maybe passed down from generation to generation and they don't have the ability to renovate them there are uh government programs this stuff is going to take a long time y'all look around I mean this is almost 3 weeks post um hurricane Milton and there's trash everywhere so this is going to be a while for cleanup it's going to take some time to get um you know some cash back in people's hands who want to uh renovate their property and and get themselves in a situation where they're not being taken advantage of so I want to highlight that my goal here um you know is to make sure that I'm I'm showing everything the Good Bad and the Ugly and you know if you've never been to this channel before we talk about all things Tampa Bay and this unfortunately is one of the things you have to deal with right now over the last 3 years I've been able to help 150 plus families move to the greater Tampa Bay area and it just breaks my heart to see this and I shared with you guys last week that I'm one of those families you know we're currently displaced out of our home now I'm not in a flood zone I didn't require flood insurance I'm 40 ft above sea level and with the over 12 Ines of rain we got in a 6-h hour period my house flooded and I'm going to share that Journey with you guys but I just got my denial letter from my insurance company yesterday which I expected I don't have flood insurance right so we got to take this on on our own and that was an exchange we were willing to make but not everyone is and not everyone can y'all and to be honest with you like we weren't expecting to be in this situation so we're dealing with it just like a lot of other people are you know I've drove this neighborhood today and you just see block after block of trashed out homes and piles of this is people's lives man and I want to take the time to recognize that um not everything's perfect in Paradise there is a price to be paid you know and um unfortunately this is that side now there's all kinds of conversations about more frequent and those types of things and honestly I haven't studied the numbers enough to be well educated to speak on it but I will okay so I'm going to dig into some of that stuff but this is the reality of what we're dealing with I wanted to get out here and share this with my community with our audience and kind of talk about this I wanted to give you those resources again people with cash they're already running around I showed you guys last week they're buying houses for cash you know they're going to come in renovate these properties or bring them up that's there's a lot of demand for that right now where they raise a home put at 10 13 ft in the air all of a sudden you don't have those flood problems to deal with um and the property becomes worth more the house okay cuz remember there's two different things happening here there is the land value and then there's the property value right those are two different things the home is independent of the land now combined they're the total real value right but they're not necessarily the same thing and sometimes we get caught up on it like one of the comments that we often get when I make videos like this is why would any fool quote unquote um buy a piece of property like this and sometimes you got to understand that there are a lot of people there are a lot of people in this country who have more money than they have time okay and they make so much money that having to deal with something like this is nothing more than an inconvenience and for other people who may not be in that situation sometimes we have a hard time understanding that but after living here for the last 6 years and seeing how much cash is in the Tampa Bay Area Coastal period there is always people waiting for opportunities like this there are properties here that people have not come off of because they've been in their family for generations and they were never going to sell those properties and maybe they've been flooded out three times and they're no longer going to deal with it the people with money who have been sitting on the sidelines they are waiting for opportunities like this so while like I said I don't NE necessarily love it if it's done transparently and openly I think it's it's great because someone's going to come in and do the thing that someone else could not but if it's done unscrupulously that's where I take definitely a different angle on that I'm not a fan of that um I think that kind of stuff should be exposed and if you do too let me know down in the comments below um if you've never been on this channel before welcome uh you know if you like this type of information feel free to subscribe and uh we'll be back what next week with another video and hope you enjoyed it till next time go out and live that Tempa life y'all [Music]