Conroe Area: River Plantation

[Erika Herrera]

I found a home in River Plantation - interested in thoughts on investing in a neighborhood that has flooded multiple times? Would be a cash flowing property, but as a newbie, wondering what you all think. Already have a tenant interested if I was to move forward.

Thanks!

[Chris Hopper]

@Sam Etskovitz I own numerous flood homes, most in Bear Creek.  My most expensive policy (for a 3x flooded home) is right at $1300.  You can't get that in RP.  That areas BFE is much lower and demands a ridiculous price for flood insurance.  And yes, I have been paid on a flooded home in Kingwood last year.  Went pretty smoothly actually.  Bought it as a flood, rehabbed it and listed it.  Had it sold and literally 3 days before closing was the flood last March.  Was going to make about 30K flipping it, wound up collecting 62K from insurance.  Put it on the market as is and sold to another investor - I had to bring $1500 to closing.  I still won, lol.