Buying rental properties in flood zones/ flood damage

[Chris Hadley]

Thoughts on buying rental properties that have flood damage . I’m going the rehab and rent route so the maintenance isn’t the issue for me. Just wondering is I should stray away from buying properties that have flooded or in flood zones ?

[Geordy Rostad]

@Chris Hadley

It all depends on the numbers. First off, check the flood maps to see how likely another flood is. Next, check the cost of the flood insurance and plug it into your calculator.

Personally I wouldn't buy in a flood zone because I feel like I can find plenty of better deals that don't have that problem. Everyone has their own risk profile though so you just have to decide what yours is.