All Forum Posts by: Aj Malempati

 what state? 

@Aj Malempati This is what I deal with at my 9-5 job. You need to fully understand the flood way maps and zones. Every zone has different regulations. 

Flood insurance is the elephant in the room. Just because you can raise the land doesn't mean you should, nor does it mean you can legally build structures. I'd also think about your long term goals for the property. Timber harvest, trails, outdoor recreation, hunting, etc. None of those require building permits it could be a win-win. 

Selling land in a flood zone is extremely hard. Why do you think the value is so low to begin with? People try to challenge local and state flood way regulations and get "stuck". Meaning you can't build, raise, or change anything due to the nature of the maps, but they ignored the regulations and purchased the land aways. State and local can and will condemn houses in the floodway. If a house is damage 50% or more to the appraised value in most cases the owner is forced to elevate the structure. You can maps changed but it costs money and it's not always an option. Lots to think about before buying land in a flood zone. 

If the land is designated a wetland you have regulations on it. Some farmers abuse these regulations and they end up creating a mess. Don't be that guy. 

 the real money is in talking to groups to see if it can be taken out of the flood plain and if there is other homes that have. we purchased a piece of land for 8k and got it out of the flood plain and it was worth close to 40k. land entitlement is one of the highest money making activities. check with the local zoning office or national firms a lot will take a look for no cost and if you can get sewer and water and developable by raising it out of the flood plain you are good for some $$ we did this in newark ohio with a single family home plot that we ended up building on and had to raise the land up 6'. it's a suburb of columbus ohio

On the cheaper end, it could also be worth exploring low-maintenance, nature-focused uses like leasing it out for hunting or outdoor activities. If the price is low enough, it could be worth getting creative and taking a long-term approach to land use while checking local restrictions. If you’re looking for something more stable and long-term, you might also want to explore the possibility of selling or leasing it to someone who is interested in farming, hunting, or conservation.