Case Study

Multifamily

Lender Mandates Removed For A Multifamily Property in Spartanburg, SC

Spartanburg, SC

Image of Multifamily property for Lender Mandates Removed For A Multifamily Property in Spartanburg, SC

$228,000 in Added Property Value

Solutions Found:

Flood Expert Survey

LOMA

Solutions Value: $13.7K in Annual Premium Savings | $228K+ in Added Property Value

NFE Solution: FES, LOMA

A cold call from National Flood Experts paid off big for this Client, owner of a multifamily property in Spartanburg, South Carolina.

Based on past successful projects and area data, NFE's in-house research team pre-qualified the Client’s 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.

NFE performed the initial desktop review, which that four buildings would most likely qualify for removal from the Special Flood Hazard Area (SFHA) through a Letter of Map Amendment (LOMA). To fully confirm the solution, additional property-specific data was required. The Client agreed to have NFE perform a Flood Expert Survey (FES) of the property. After an exhaustive review of the new data, NFE's engineers qualified all four buildings for a LOMA.

As a result, the lender's mandate for NFIP and excess flood insurance were removed, saving the Client nearly $14,000 in flood insurance premiums and increased property value by nearly $230,000.

By successfully removing the flood insurance mandate through the LOMA process, NFE showcased its commitment to providing effective flood zone solutions and delivering financial benefits to clients.

View Other Case Studies

Image of Residential property for $130K+ in Added Property Value Across TX Portfolio

$8K in Insurance Mandate Removed

$130K+ in Added Property Value Across TX Portfolio - Multiple, TX

See how NFE's expertise helped one of the largest Real Estate firms in South Texas explore options to reduce flood insurance premiums and add over $130K in property value to their portfolio of properties.

Image of Multifamily property for CA Multifamily Property Saves $86K

$1.7MM in Added Property Value

CA Multifamily Property Saves $86K - Vacaville, CA

We have MASSIVE savings for you from the Golden State in Vacaville, CA. Imagine increasing the NOI of your multifamily asset by $86,000 annually. What would that mean for the financial performance of your investment?

Image of Commercial property for $1.8MM+ in Added Property Value for a Commercial Real Estate Portfolio. Huge!

$110K in Premium Savings

$1.8MM+ in Added Property Value for a Commercial Real Estate Portfolio. Huge! - Honolulu & Lahaina, HI

Read how NFE helped a commercial real-estate portfolio save over $110,000 in premiums and increase property value exceeding $1.8 million across several retail & hotel properties in Hawaii and California.