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Updated about 3 years ago,
Floodplain- Questions on a buy and hold
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!