Updated over 3 years ago on . Most recent reply
Flood Zone Flip
Recently bid on a property with a tax assessment value of $110,000. Got it for $50k. Need to put about $20k into it and plan on flipping. The property was zoned in a hi-risk flood area. The property is located in a decent low-income neighborhood.
What are your thoughts on moving forward with the deal? Insurance cost will be around $1,300 a year.