SFR I currently have under contract. Probably $70-$75k in value, and my contract is for $45k. Plan on approximately $25k in rehab. It has a basement, and I learned today that flood insurance will run about $6k per year!!! Holy smokes! I was not prepared for that. I'm using the BRRRR method. Has anyone done this before in a flood plane? Is there any other options I have at lowering the cost of flood insurance? Thanks!
@Allen Collier shop around.... I have a SFR in a flood zone and quotes ranged from $650 - $3500 per year. I ended up going with a policy that cost me about $800/yr.
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