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Episode 10 - Project #5: Avoid Flood Zones

Deal Details

  • Address: 720 Earline St, Birmingham, AL 35215
  • Type: Rental Property
  • Year: 2018
  • Timeline: 1 month
  • Purchase Price: $50,000
  • Rehab: $0
  • Sales Price: $154,000
  • Profit: $100,000

Avoid Flood Zones

  • We got it for a steal ($50K).....because it was in a flood zone. But I was still new to the industry and an idiot then and did not know to check on this at first. Now I know ALWAYS to check the FEMA Flood Map Service up front to see if a property is in a flood zone. 
  • Properties in flood zones can be harder to sell and will cost a lot in extra insurance

Key Takeaways:

  1. Watch out for flood zonesā€“ALWAYS check the FEMA Flood Map Service
  2. Carefully screen your tenants
  3. Buy rental properties that will not have a lot of maintenance issues in the future

Episode Resources: 


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