Floodplain Information: Puget Sound and Greater Seattle-Tacoma

[Alex Chin]

PIG-gy backing on Ben Leybovich's unfortunate flooding experience, I wanted to know what methods Puget Sound area investors use to help them evaluate flood risk on a buy-and-hold opportunity.

Secondary question would are water-related red-flags for a property, and what are things that give you pause but can be worked with?

[Josh Caldwell]

Alex

I dont know about your area but in Pittsburgh we have a lot of flood areas, that arent really flood areas. FEMA and the insurance companies think they are flood areas because some gov study says that an area will flood once in every 100 years.

I talk to old people who are from those areas and hear their opinion.  Find me an 80 year old who has never seen that area flood and I am good with that property.  I will also buy property where there has been one flood during one specific horrible storm in the last 40 years of so. 

I dont consider these areas to be a real problem because I am likely to have to deal with a lot of problems in a 4 decade period and flood can be one of them

To your success

Josh