All Forum Posts by: Matthew Vallandingham

Still trying to buy my first SFH for long term rental, I've lost out on 4 homes so far since December. I've been mostly looking in the east end area of Louisville but recently I've expanded my search area in hopes of finding more options. I've been trying to find the unicorn it seems, 3br/2ba brick ranch in my budget. Any input on the Okolona area? On the rise or stagnant? Any input is appreciated.

Yep definitely a no go for an investment property in a flood zone, flood insurance for non primary residence was triple what the regular home owners policy was.

I've noticed during this process that everything is just a little bit more difficult, insurance is higher on non primary residence, financing is more stringent, etc.  This is probably because it is more of a risk.

The search continues.  

Thanks for the responses, I'm planning on this house being a long term rental investment, however resell in a flood area is concerning to me. Also what David H said, the fact FEMA will raise prices continuously and eating into cash flow. I'm shooting for a property with over $200 cash flow per month using very conservative numbers. This is all very exciting and nerve racking.

Hello, I'm brand new to real estate investing, I've read several books and listened to many BP podcasts and others. I'm looking at houses in the 40213 zip code. My concern is the flood zone (which is a huge portion of south Louisville), I looked at one house and it is in the FEMA flood zone, however the house has never flooded since it was built in 1963 but flood insurance is an extra cost which I would have to include in my numbers.

Does anyone have any experience with 40213 and/or buying in a flood zone?