VA Beach floodzones

[Priscilla Quintana]

Hello BP! Shout out to all VA investors... hoping to gather some advice. I am looking for a SFH or Duplex in the Norfolk/Virginia Beach area to buy and hold and/or AirBNB. Preferably under 180k.

Research has let me know to avoid flood zones but i am finding that EVERYTHING is in "flood zones"! 

My question is- should I avoid flood zones at all costs and keep searching? Or should I get quotes for flood insurance and factor that into my calculations? Also, if i find a property OUTSIDE a floodzone... is it still a best practice to get flood insurance regardless as a form of protection?

The FEMA website is kind of confusing.... everything i seem to plug in shows up in the blue segments which I am guessing means its a flood zone right?

Many thanks! 

[Sean Rooks]

I would just factor it into your costs. If the numbers work, the numbers work. Just have a reserve ready in case the worst happens. I currently have a primary in a flood zone, and it hasn't been a problem yet. Just higher insurance costs. Additionally an elevation certificate will be require, which could help the insurance cost if the home is built up on a higher foundation to mitigate the risk, or maybe just the garage is exposed to potential floods. 

Like Brandon Tuner always says on the podcast, he never thought hard money would work, until he just started factoring it into his analysis. Then if the numbers still worked, its still a deal. Happy hunting!