Lessons Learned from Hurricane Katrina

Hurricane Katrina pic
Hurricane Katrina
Image: history.com

With more than three decades of real estate development experience, Malibu resident Kenneth D. Heller is co-founder of Heller/Stone Properties. When Hurricane Katrina devastated New Orleans in 2004, Kenneth D. Heller of Malibu facilitated the housing needs of first responders in New Orleans.

Katrina’s first responders played a major role in providing first aid and keeping many citizens safe. Always striving for improvement, emergency personnel in North Carolina compiled the following short list of lessons they learned from the Louisiana emergency, in hopes that items on the list can help save lives in the future.

1. Use social media. Push out information as it becomes available via social media. Be proactive and accurate in details.

2. Stock up. Resources such as evacuation vehicles and satellite equipment used for communications should be readily accessible.

3. Ask for help. Don’t be afraid to ask for the support and resources from other agencies. Disasters demand extensive assistance.

How to Begin Investing in Real Estate

Based in Malibu California, Kenneth D. Heller leverages decades of experience in real estate to serve as managing partner of Heller Stone Properties. In this capacity, Kenneth D. Heller oversees all aspects of the firm’s property management services and real estate investments across several states.

Over the last five decades, real estate investment has gained popularity, allowing financiers to greatly increase their capital through the purchase and sale of properties. Recently, low interest rates have provided a unique opportunity for individual investors to enter the real estate market. The following are basic tips about how to begin investing in real estate.

Income Property
One of the most basic forms of real estate investment, rental properties allow you to cultivate long-term profit by renting the property to tenants. You should choose a property in a location that features low vacancy rates to ensure monthly profits that will supplement the cost of overall property maintenance and mortgage payments.

Risk Assessment
All investments pose some risk, but you can make lower risk real estate investments by avoiding certain common pitfalls; undesirable locations, speculative land development, and private property funds promising above market returns. Before making a real estate decision, you should complete due diligence and extensive analysis to determine if the investment meets your financial objectives.

Invest in a real estate investment trust (REIT)
If you do not wish to own real estate directly, you can invest in an REIT by purchasing shares in a real estate investment firm’s property portfolio. The worth of an REIT depends upon the value and cash flow of the property and the fund related to the investment trust. In addition to gaining real estate investment experience, you can use REITs to add value to your current portfolio of stocks and bonds.