In The Zone with William Hancock, Managing Partner & Co-Founder at Brazos Residential

Published on March 29th, 2024

Updated on March 29th, 2024

This episode of “In The Zone: Project Spotlight” features William Hancock, Managing Partner & Co-Founder at Brazos Residential.

Will shares how National Flood Experts (NFE) managed to lift lender mandates on their flood zone multifamily assets in Garland, TX, before the flood insurance renewal.

Following 18 months of difficulties in removing the final two buildings from the flood zone, Will’s team sought assistance from NFE. In just over a week, NFE completed the task, providing substantial long-term value and saving them from ongoing expenses.

With roughly $10,000 in annual cost-savings, the property’s value significantly increased by approximately $165,000.

By achieving these substantial cost savings, the project not only benefits Brazos and its investors but also sets the stage for a potential future sale with less red tape and an expanded buyer pool, now that flood insurance requirements are no longer a factor.

This proactive approach effectively eliminates a major worry for their stakeholders and adds value to their investment.

Key takeaways:

  • Add NOI by reducing or eliminating flood insurance costs through NFE’s engineering solutions
  • Remove lender mandates for flood insurance
  • Experience NFE’s seamless and expedited process

About Brazos Residential: Brazos Residential is a private real estate company focusing exclusively on acquiring multifamily assets. The company seeks value-add and opportunistic acquisitions that produce superior risk-adjusted returns for our institutional partners and private capital investors. Brazostargetshigh-growth markets with strong long-term investment fundamentals throughout the Sun Belt region of the United States. Brazos aligns itself with industry-leading third-party management providers to successfully implement each asset’s unique business plan.

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