Property By Creek
Hello all
First post for me. Has anyone dealt with houses that back up to a creek. There is actually not much to rehab. and is in good shape. I am thinking about putting around 1k in it and renting it out. Houses around the cul-de-sac go for about 32k-40k. Think I can pick it up for around 28k. Not the best Hood. Rent in the area is around 400-500 for 3br 1ba. My question is if it shows well, will i have a problem A. renting or B. selling. It is in a flood plain but has not flooded since the 70's. Should I steer clear or take a chance.
can you get flood insurance policy?
if yes do it....
Talk to a Realtor. Have houses in that same situ had difficulty? What is their average DOM (days on Market)?
Can you casually talk to neighbors to verify it has not flooded since 70's? Do they have any concerns about selling?
I have not asked my ins. co. but the people living there are paying about $750 a year.
not sure how to find out detailed info like DOM wo/hiring a realtor
You must contact an insurance comepny, offer them an elevation certificate and ask them if you can GET insurance. Not so easy to get anymore.
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