Investors Are Hungry For Storm-Damaged Bahamas Properties
Investors aren't wasting anytime when it comes to searching for bargains in the disaster-stricken Bahamas. A new report revealed that real estate investors have been calling local agents in search of great deals on damaged properties.
"We've surprisingly had several calls," said Colin Lightbourn, who manages real estate company Engel & Volkers' Bahamas office in Nassau, according to National Mortgage News.
"People are asking if there is anybody selling properties in any of those cays and to keep them on our list."
The report revealed that these requests aren't out of the norm as the same requests were made in other islands throughout the Caribbean following a number of natural disasters that have swept through in previous years.
"There were discounts to be had," according to NMN.
"On Dutch St. Maarten, for example, a five-bedroom home with an ocean view was on the market for $3.5 million before the storm, but was reduced to about $1.9 million in damaged condition after the storm passed through, the Wall Street Journal reported at the time."
To learn more about some of the bargains that may be available in these regions and how a similar model could work in disaster-stricken areas in the U.S., click on the image above.
