Case Study

Multifamily

Real Estate Portfolio Secures $14.7K Annual Insurance Savings

Clarkston, GA

$245K+ in Added Property Value

Solutions Found:

Flood Expert Survey

LOMA

Solutions Value: $14.7K+ in Annual Premium Savings and $245K+ in Added Property Value

NFE Solution: LOMA; FES

From overwhelming challenges to remarkable success, National Flood Experts secures $14.7K in savings and $245K in added value for an Atlanta, GA, based property management firm for their Clarkston, GA, multifamily property.

Challenge: A property management and real estate investment firm faced challenges due to the flood zone designation for a Clarkston, GA, property, with the lender required them to maintain expensive flood insurance policies for two buildings.

Solution:
NFE conducted a thorough desktop engineering review of the property. To confirm potential solutions, a Flood Expert Survey (FES) was required. The data collected from the FES revealed valuable insights and data. Based on the findings, NFE qualified both buildings for a Letter of Map Amendment (LOMA). Upon approval, the LOMA would remove the lender mandate for flood insurance and provide long-term cost savings for the client.

Cost Savings: The successful removal of the lender mandate for flood insurance resulted in $14.7K in annual flood insurance premium savings, instantly increasing the NOI.

Property Value Increase:
In addition to the cost savings, the removal of the flood zone designation had a positive impact on the properties' value. Assuming a 6% CAP rate, the properties experienced an estimated $245K increase in property value.

Conclusion:
By leveraging NFE's expertise, the client was able to navigate the LOMA process with ease and achieve substantial financial benefits.

If you are facing similar challenges related to flood insurance, consider engaging with NFE to explore options. NFE's proven track record and specialized flood expertise can help you unlock cost savings and increase the value of your properties.

View Other Case Studies

Image of Multifamily property for Multifamily Property Avoids Flood Insurance Requirements at Closing

$165K in Added Property Value

Multifamily Property Avoids Flood Insurance Requirements at Closing - Shepherdsville, KY

Learn how a multifamily property in Kentucky saved $10,000+ on flood insurance mandates and increased property value by $165,000. NFE's expertise qualified all buildings for a Letter of Map Amendment (LOMA), helping the client avoid unnecessary and hefty flood insurance requirements while facilitating a smooth closing.

Image of Multifamily property for Multifamily Property in Toms River Successfully Removed from Special Flood Hazard Area (SFHA)

$250,000 in Added Property Value

Multifamily Property in Toms River Successfully Removed from Special Flood Hazard Area (SFHA) - Toms River , NJ

NFE successfully removed a multifamily property in Toms River from the Special Flood Hazard Area (SFHA). A Flood Expert Survey (FES) qualified all 5 buildings for a Letter of Map Amendment (LOMA). These solutions elimated$15,000 in annual insurance costs and added a remarkable $250,000 in property value.

Image of Multifamily property for Cold Call Results in $116K Property Value Increase for Multifamily Owner

$116K in Added Property Value

Cold Call Results in $116K Property Value Increase for Multifamily Owner - Colorado Springs, CO

Explore how National Flood Experts helped a client increase the value of their multifamily property in Colorado Springs, CO by more than $116,000. Through NFE’s comprehensive engineering review, the building was successfully removed from the high-risk flood zone, eliminating the lender mandate for flood insurance and decreasing annual expenses by nearly $7,000 while also increasing property value.