It’s the things you need to be aware of when considering acquiring or selling a property that can factor into your decision as much as whether or not the numbers work. Knowing about the current and future infrastructure and utilities can keep a deal from going sour and bring on challenges for owners.
The below linked article gives the latest about concerns over the water supply in Florida. Recent major wildfires in Southern California remind us how quickly a water supply status could change. Such events have nothing to do with the current condition of a property.
Some readers will see the article below and think “It doesn’t matter to me since I’m not in Florida”. I think the readers should think “I need to know about the water supply for my property(ies) or those I am considering”. When a municipality needs to improve or add infrastructure, somebody helps pay for it. Sometimes there is a special assessment and/or a property tax increase. Such an event likely impacts the profit potential or margins on a pending or future deal. There are instances where a landlord gets stuck with related expenses like needing to update wiring, or upgrade an electrical system.
The way to find out or make sure is by doing your research before it’s too late. If you don’t have a research person or team, you could make a deal which is less favorable than originally thought or not have a property ready to get max value in return for. Let my team and me show you how much of a difference continued research will make!
https://www.bdcnetwork.com/home/news/55261204/floridas-water-supply-strained-by-development-overexploitation-of-groundwater
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