Case Study

Multifamily

Maximizing Property Value via Letter of Map Amendment

Longview, TX

Flood Insurance Mandates Removed

Solutions Found:

LOMA

Solutions Value: Flood Insurance Mandates Removed & Property Value Improved

NFE Solution: LOMA

A cold call from National Flood Experts paid off big for this Client, a nationally recognized purchaser and operator of multifamily complexes throughout the Southern and Southeastern United States.

Based on past successful projects and area data, NFE's in-house research team pre-qualified the Client's Longview, TX, multifamily property as having a high likelihood of cost-saving solutions. NFE contacted the property owner to share our services and what we thought may be possible for their property.

Although this particular property did not carry a loan and therefore wasn't mandated to carry flood insurance, the owner recognized the potential to significantly increase the property value if any of the buildings qualified for removal from the Special Flood Hazard Area (SFHA) via Letter of Map Amendments (LOMA). The owner was excited to proceed with the complimentary desktop engineering review to see what might be possible.

NFE's engineering team reviewed property elevation certificates provided by the Client against in-house data and confirmed that four of the five buildings qualified for removal from the SFHA. NFE's team obtained all required sign-offs, communicated with the City of Longview's floodplain administrator, and submitted the final LOMR-F application to FEMA for approval. Thanks to the engineering team's expertise, the application was approved in only 31 days!

The approved LOMR-F officially reclassified the four buildings into an X zone. This solution unquestionably adds significant property value, a major asset, should the current owners decide to refinance or sell the property.

View Other Case Studies

Image of Residential property for Lender Mandate Lifted for Homeowner in Minnesota

A-Zone LOMA Success

Lender Mandate Lifted for Homeowner in Minnesota - Afton, MN

Discover how NFE helped a single-family homeowner in Afton, MN, remove the lender mandate for flood insurance on their home and detached garage via a Letter of Map Amendment (LOMA).

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 Property Owner in Texarkana Trims Year-Over-Year Flood Insurance Premiums by $10K

$10K Year-Over-Year Savings

Property Owner in Texarkana Trims Year-Over-Year Flood Insurance Premiums by $10K - Texarkana, TX

Discover how NFE helped a property owner in Texarkana, TX, overcome high flood insurance premiums. Through a comprehensive Flood Expert Survey (FES) and expert analysis, NFE successfully obtained a Letter of Map Amendment (LOMA), resulting in a yearly savings of approximately $10,000 and an increased property value of $167,000. Experience our expertise in flood risk management and effective solutions for tangible benefits.