DerbyDad03 on Thu, 4 Jan 2018 18:47:10 -0800
(PST) typed in rec.woodworking the following:
On Thursday, January 4, 2018 at 7:22:02 PM UTC-5, pyotr filipivich wrote:
Electric Comet on Thu, 4 Jan 2018
08:53:04 -0800 typed in rec.woodworking the following:
On Thu, 4 Jan 2018 08:19:21 -0600
Bill Gill wrote:

The WoodCraft store that got walked on by the tornado last
August has reopened in a new location. I was driving down


did they add a tornado shelter
maybe for members only


seriously though i wonder how insurance actuaries handle insurance
for places like this

i would guess that the odds are low that the same location would get
hit twice

One would think so. But, like the cliche that lightening never
strikes twice in the same place - the reality is that often there
isn't anything left after the first strike.
Same goes for tornadoes. I was told that the Air Force Base in
Salina Kansas had a tornado come through and tear the front off the
commissary. A year later, another tornado tore the front off the
repairs.

In 2015 a co-worker bought a condo in a waterfront property in Myrtle
Beach, SC. The plan was for it to be a vacation spot and income property.
During the first year, he didn't rent it out because he was fixing up his
unit.

In 2016 Hurricane Matthew caused enough flood damage to the building that everyone had to move out while they gutted the first floor and rebuilt.
There were a lot of delays due to code upgrades and insurance issues.

In 2017, before they had even completed the repairs, Tropical Storm Irma
hit and flooded the place again.

My coworker has made no income from the property and has been paying to
vacation in other places. Not his best investment idea.

A good "idea" - but one that didn't work out as planned. B-)
--
pyotr filipivich
Next month's Panel: Graft - Boon or blessing?