Real Estate FAIL 2023 | Investor Guide

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One of the speaker's apartment complexes, which had not flooded in the past 60 years, was affected by a rare thousand-year flood caused by heavy rain in St. Louis. The creek overflowed and flooded the basement and first floor of the complex. Although the property was insured, the insurance only covered $50,000 of the repairs, which ended up costing $200,000. As a result, the speaker had to pay $150,000 out of pocket for the repairs.

One of the speaker's apartment complexes, which had not flooded in the past 60 years, was affected b