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 Residential property for NH Homeowner Relieved of Rising Flood Insurance Costs

Flood Insurance Mandates Removed

NH Homeowner Relieved of Rising Flood Insurance Costs - Bedford, NH

A homeowner in Bedford, NH, faced skyrocketing flood insurance premiums, nearly doubling their mortgage payments. They sought relief and their insurance agent recommended NFE as a trusted partner. NFE conducted a complimentary engineering review, qualifying the property for a LOMA. NFE assisted throughout the FEMA submission process, addressing RFIs and ensuring smooth progress. The homeowner obtained a LOMA, eliminating the need for flood insurance, improving property value and marketability.

Image of Multifamily property for Multifamily Property Increases NOI by $10K

$166,000 in Added Property Value

Multifamily Property Increases NOI by $10K - Overland Park, KS

Discover how a multifamily property owner in Overland Park, KS, added approximately $166,000 in property value and increased NOI by nearly $10,000 by working with National Flood Experts (NFE) thanks to an introduction from their insurance broker.

Image of Multifamily property for 17 of 21 Buildings Removed from SFHA

$50K+ in total savings

17 of 21 Buildings Removed from SFHA - Mobile, AL

NFE was successful in qualifying 17 of 21 multifamily buildings in Mobile, AL for removal from the SFHA, resulting in nearly $50K NOI increase for the property owners.