Flood Insurance

Flood insurance is an important type of insurance for anyone living in an area that is at risk of flooding. Flooding is one of the most common and costly natural disasters, and it can cause significant damage to homes and other structures. Standard homeowners insurance policies do not typically cover flood damage, so it's important for property owners to have separate flood insurance coverage.

Having flood insurance can protect your home and belongings from the financial impact of flooding. If your home is damaged by a flood, your flood insurance policy can provide financial assistance to help you repair or rebuild your home. It can also help to replace any personal belongings that were damaged or destroyed in the flood.

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A 1031 exchange, also known as a like-kind exchange or a Starker exchange, is a tax strategy that allows investors to defer paying capital gains taxes on the sale of a property. This is done by reinvesting the proceeds from the sale into a similar property.

To qualify for a 1031 exchange, the property being sold and the property being purchased must be considered "like-kind," according to the IRS. This generally means that the properties must be used for the same purpose, such as for investment or business purposes. The properties do not need to be identical, but they must be of a similar type or nature.

There are several benefits to using a 1031 exchange. The most significant benefit is the ability to defer paying…

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New London County Multi Family Rents

The vacancy rate in the New London Submarket has remained stable over the past year, but at 2.6%, is somewhat below the long-term average. While developers have been active in recent years, nothing has been delivered over the past 12 months. But construction has started back up, and about 340 units are underway, which will substantially expand the existing inventory. Rents have increased by an impressive 7.9% over the past year, which significantly exceeds the average annual growth of 4.0% over the past decade. Investors have been active in the New London Submarket over the past three years. The market price, which is an estimated price of all properties in the submarket, has risen dramatically over that time period and now stands at $152,994/unit.

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