Flipping in flood zone ?

[Lombosco Dixon]

Should I flip a home in a flood zone 

It's a AE flood zone 

Purchase price is 99,900 

Last price home sold for was 265,000

Comps were 245,000

Damages 40,000

Apparently flood insurance would cost 200 a month 

I'm estimating that this home would cost roughly 1700 monthly ???

[Cheryl Schuck]

you may want to look into a flood cert.  to find out if the property has been zoned differently over the years and if the required amount of insurance will change.  flood zone homes have a tendency to stay on the market longer so you have to take that into account.  it's not a deal if you are sitting on it for 6-12 months. imo