I am a new investor and have come across a few properties on the mls that seem like they might work numbers wise, but then i notice they are in a flood zone.
Would you ever BRRRR a house in a flood zone? Why or Why Not?
Do the numbers still work with the extra flood insurance? If so, I would still invest in a flood zone. Unless there is clear and obvious evidence that the space floods regularly and will be a huge headache, I would still invest there.
@Matt Goldstein depends on where the property sits.. the geology of the property location plays a big part on its future. Is it coastal or along a river? It along a river, which meander its along could determine whether or not the property will exist in the future. I own an STR in a coastal flood zone and flood insurance still worked for my numbers and it cash flows. If it's insured properly and the numbers still work, I wouldn't worry too much about it