All Forum Posts by: Sarah Kassem

Depending how close you are to the shoreline things to consider are:

 - Flood insurance - You can check the flood zones here:https://msc.fema.gov/portal/ho...

 - Actual risk of coastal flooding and erosion - Paying for insurance is one thing, but dealing with a property that is slowly falling into the ocean is something else

- Tsunami risk - Most of the OR coastline is exposed to tsunami risk from the Cascadia Subduction Zone. USGS predicts 10% chance over the next 50 years, producing waves that runup 50-80 ft high. I would get a property that is above this elevation.

 - Permitting - Development in the coastal zone is highly restricted. This may be a factor if rehabs are required.

Most if this can be mitigated if you get a property a few rows back from the shoreline. Wind is less of an issue on the west coast, we tend to get swell-type storms instead of wind-generated hurricanes like the east and gulf coasts. 

Hi Austin,

I'm not too familiar with the insurance side of FEMA but know a lot about the flood risk side (i make those maps for work). But generally, to summarize what people are saying above, to get out of paying insurance, you have to show that your property lies above the 100-yr flood level (also called the BFE). This is done with an elevation certificate which a surveyor will have to complete. If the elevation certificate says that you are in the flood zone, then unfortunately you have to get insurance, but it sounds like private insurance will get you cheaper premiums.

Also on the BP podcast, Brandon Turner has mentioned a few times about his tactic for dealing with flood insurance, which is to refuse to buy it, which forces the mortgage company to buy it on his behalf at a much cheaper rate.

Happy to discuss further, and as always, consult a licensed engineer in your state before proceeding.