We live in an area that was flooded. Would it be wise to invest in a property? I'm sure the property values are lower but it obviously comes with a huge risk. Any advice is greatly appreciated!
Look into see if you can get flood insurance and if you can how much it would cost and see if the numbers make sense. Otherwise do a google search and try and find out how often the area floods and determine if you are willing to take that risk or not. Is there any properties near by you could invest in that are not as likely to get flooded?
I know a few areas, I'm not sure if there is a graph online that shows likelihood of flood in the area i'm searching. We live next to a lake so most of these houses get flooded after a day of rain. So the one's that don't may be a steal.