Thoughts on buying flooded properties as flips

[Eunice Villarroel]

Hello, I live in South Florida and have been thinking about purchasing a flooded property in south Florida. It is in a flood zone. But it is in an amazing location Close to the beach and downtown. The whole area got flooded recently, first time in 50 years. Not sure how that affects house values. Please advise

[Adam Schooley]

@Eunice Villarroel almost every neighborhood on the east side of South Florida is in a flood zone. I’m currently negotiating a triplex that was flooded in April from all the rain fall. The owners owned the property for 35 years and it’s never been flooded like it was this past April. They payed $27k for it. Even with the flood damage it’s probably still worth $400k. My point is that if you’re keeping the property long term the values will go up regardless of if it’s in a flood zone or not.