Case Study

Multifamily

Houston Multifamily Property Saves Over $31K in Premiums

Houston, TX

Image of Multifamily property for Houston Multifamily Property Saves Over $31K in Premiums

$500,000 in Added Property Value

Solutions Found:

Flood Expert Survey

LOMA

Solutions Value:≈$31K in Lender Mandates Removed, Adding $500,000 in Property Value

NFE Solutions: FES; LOMA

National Flood Experts' engineering review revalidated a multifamily property's Letter of Map Amendment (LOMA) compliance, including newly built structures, removing lender mandates for flood insurance, and saving over $31,000 in premiums in Houston, TX.

A newly acquired multifamily property in Houston, TX, was faced with hefty lender mandates (including excess!) as the lender did not recognize an existing LOMA due to the addition of new structures on the property.

The owner's insurance agent introduced them to National Flood Experts. The NFE team visited the site and performed a Flood Expert Survey (FES) to gather current data. The FES proved worthwhile, with the data revalidating the existing LOMA while also qualifying the new buildings for removal from the SFHA. After providing the LOMA, the lender removed all mandates for flood insurance! The project made a huge impact on the property value, with an increase of $500,000.

NFE's solutions proved to be essential in boosting NOI early, providing significant savings, and adding a substantial increase in property value for the new owners.

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$365K+ Added in Property Value

19 of 29 Buildings Removed from SFHA - Coral Springs, FL

On a rushed timeline due to an upcoming sale, NFE's flood experts helped the nation's largest multi-family property owner save ≈$22K in annual flood insurance premiums while also adding $365K in property value for a 29-building property in Coral Springs, FL. NFE’s field work and engineering review maximized cost savings and helped the current and future owners avoid costly premium hikes on the horizon.

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Industrial Property Achieve LOMA

Montana Utility Company Achieves LOMA Success - Helena, MT

A water management company worked with the team at NFE to secure a LOMA for their Helena, MT property. Clients have many reasons for seeking out NFE’s services, from lifting lender-mandated flood insurance via a letter of map amendment or reducing flood insurance policy premiums via insurance consulting; we are happy to help reduce expenses, boost NOI, and increase property value in whatever way we can!

Image of Multifamily property for Refinancing Saved, Excess Flood Insurance Mandate Removed, and $1MM+ in Property Value Added for Terre Haute, IN, Multifamily Property

$1MM+ in Added Property Value

Refinancing Saved, Excess Flood Insurance Mandate Removed, and $1MM+ in Property Value Added for Terre Haute, IN, Multifamily Property - Terre Haute , IN

Discover how a multifamily property owner in Terre Haute, IN, maximized refinancing and eliminated the need for excess flood insurance coverage. NFE’s engineering review helped the owners overcome restrictions, increase property value by a staggering $1MM+, and increase NOI by $65,250 annually - all in just under two weeks!