Successful investors aren’t fair-weathered investors. They have long-term plans with long-term payoffs.

Every business has its negative aspects and as business owners, we must have long-term vision and goals to work toward.

As investors in South Florida, owning properties during hurricane season certainly has its disadvantages. The cost of insurance substantially increases and causes cash flow to drop during these months.

Because of this, many investors drop their “wind” coverage during off-hurricane season. Even with inexpensive property, the increase can be as much as $2,000 annually for wind coverage.

Ironically, soon after a big weather event that may seem like a disaster occurs in an area, it’s typical to see a boom in real estate sales. However, after repeated events in the same season to the same area, the real estate market dries up for awhile.