Floodplain- Questions on a buy and hold

[Alicia Marks]

I'm looking to purchase a BRRR property that is on the edge of a 100 year floodplain. What should I know? The property is mostly zone A, but the front is X. It's a pier and beam foundation with sufficient crawlspace underneath. I'm curious on the ability to get coverage in this scenario as well as any additional things I should consider. I have an ARV of $175k, purchase of $95k and about $20- $25k in work to be done. Deciding if I should move forward, as the other numbers and scope of work pan out, but I have never purchased in a flood zone. Thanks!

[Scott Mac]

100 year floodplain doesn't mean it floods every 100 years.

It could flood tomorrow, and next year and next year...there is no way to tell.

Will it flood when you own it (???) or will you be lucky (???).

If you get the urge to build a big boat and start collecting 2 of every animal--well...yah....