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All Forum Posts by: Paresh Patel

Paresh Patel has started 3 posts and replied 4 times.

General Landlording & Rental Properties

Post: Elevation Certification for Flood Insurance

Paresh PatelPosted
  • Posts 4
  • Votes 2

Own a 2 flat in a flood plain area. Paying huge sum to FEMA for flood insurance. To appeal for the flood insurance, i was told to obtain a elevation certification and submit it to FEMA for review on the premium. Any advise, if this is feasible.

Thank you

2 Votes
Multi-Family and Apartment Investing

Post: Splitting up heat in 2 unit

Paresh PatelPosted
  • Posts 4
  • Votes 2

Dual Zoning, we just added that to one of our properties. Separate thermostats, each controlling respective units. HVAC company will be able to help you out. We paid approx. $2500.00 

0 Votes
Innovative Strategies

Post: Tear Down two flat and rebuild four flat

Paresh PatelPosted
  • Posts 4
  • Votes 2

Have a two flat in suburb of Chicago.  Thinking of complete tear down and constructing four flat with enclosed garage on ground level. Never done this before. Need advise.

Thank you

0 Votes
General Landlording & Rental Properties

Post: Flood Insurance rates increased

Paresh PatelPosted
  • Posts 4
  • Votes 2

We purchased a two flat (converted from single family home) a year ago. Paid for flood insurance when we closed on the deal. Now we get a letter from FEMA stating our flood insurance premium is more than doubled. Reason, they show as excessive risk. Last claim was from a prior owner in the year 2013. Any remedy to rectify and find out what will be a good way find out what will be true rate. Thank you,in advance for your help and suggestions.

0 Votes