Why FEMA Flood Zone Maps Must Be Part of Due Diligence for Investors - Next Level Thursday
Rental Property Owner & Real Estate Investor Podcast · Brian Hamrick
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Show Notes
Welcome to Next Level Thursday!
On our very first episode we're going to discuss FEMA Flood Zone Maps and why you must include them in your due diligence when buying any type of property.
Both lenders and insurance companies look at FEMA flood maps to assess risk and determine whether you'll need to pay for extra flood insurance—which can be quite costly.
If you're already paying for flood insurance, then you'll also want to re-check the FEMA flood maps because they've been updated in the past year.
I'll discuss my property where we were paying an extra $15,000 in flood insurance, and how FEMA revised their flood maps and I don't have to pay that any longer.