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Updated almost 6 years ago on . Most recent reply

Allen Collier's profile image
Allen Collier's profile image
Allen Collier
  • from Scott City, Missouri
  • Member since Jan 31, 2018
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Allen Collier's profile image
Allen Collier's profile image
Allen Collier
  • from Scott City, Missouri
  • Member since Jan 31, 2018
Connect
Allen Collier
  • Scott City, MO
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6
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Buying & Selling Real Estate

SFR purchase in flood plane

Allen Collier
  • Scott City, MO
Posted

SFR I currently have under contract. Probably $70-$75k in value, and my contract is for $45k. Plan on approximately $25k in rehab. It has a basement, and I learned today that flood insurance will run about $6k per year!!! Holy smokes! I was not prepared for that. I'm using the BRRRR method. Has anyone done this before in a flood plane? Is there any other options I have at lowering the cost of flood insurance? Thanks!

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