Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Rehabbing & House Flipping
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 3 years ago, 06/07/2021

User Stats

38
Posts
11
Votes
Kevin Kong
  • Chicago, IL
11
Votes |
38
Posts

What would be better?

Kevin Kong
  • Chicago, IL
Posted
Thanks for everyone who took the time to read this dumb post of mine.  I was wondering some stuff for rehabbing to refinance and BRRRR my way into early retirement.  I found this house on the MLS that's in a 6/10 flood zone.  There was a recent flood in the area that rose about 17-24 inches.  The house I saw had water marks about that high.  The house is a ranch on a concrete slab.  Since I dont want to buy a house that could essentially destroy all my stuff I was pondering ideas that may help.  First thing I came up with is put the house on stilts.  The house is roughly 2800sqft so that would be too expensive.  I was also thinking of adding cement to raise the floor around 24inches or more.  I know if I did that I would have to raise the roof as well and move everything up 24inches.  I know this seems like a lot of work and money but the house is listed at 299k.  The surrounding houses are at over 550k for the same sqft.  The house actually sold in 2018 for 625k.  Also would raising the house save me on my insurance?  I was also thinking of making creative trenches so the water fills up before it reaches the house.   Or should i just completely forget about this house and move on?  Thanks for any and all the help!

Loading replies...