All Forum Posts by: Tom Brooks

Flood mitigation with foundation flood vents and other methods might be able to help you get lower costs for flood insurance. It is also worth having a professional review the property's elevation certificate for this stuff. I can point you in the right direction if you would like. Best of luck!

I think you should look into flood mitigation. You can reduce insurance premiums in a number of ways. I am available to discuss if you want to reach out to me.

I can have flood experts who can help you review the elevation certificate and the flood insurance end if you would like. We can also tell you if there are flood mitigation steps that can help you lower the flood insurance costs. Reach out to me if you would like to discuss.

Flood mitigation with foundation flood vents and other methods can also significantly reduce the cost of flood insurance depending on a number of factors. We have seen annual premiums reduced by several thousand dollars annually on individual properties. Mitigation can reduce risks to building foundations which can be very costly if damaged. Reach out to me if you would like to discuss.

margins are too thin.

Russell is on point. Elevation certificates are important. A review of the EC can also save you money in the long term. An EC review can help you find mitigation techniques that can lower your flood insurance costs. As many of you know the gained cashflow also improves the value of your property.

Please reach out to me if you need help finding a local surveyor. Our website actually has a surveyor locator. Additionally if you are a surveyor, please reach out to me to find out about becoming part of the surveyor locator.

Wet mitigation like foundation flood vents might be able to lower the insurance costs additionally. Let me know if you would like me to direct you to a contact who can evaluate the elevation certificate.

Wet flood mitigation techniques can potentially reduce your premiums further and often pay for themselves relatively quickly. Greater cashflow means translates into a more valuable property. PM me if you would like to connect you with someone. 

Use the current flood insurance amount to negotiate a better purchase price while looking into mitigation techniques that will lower your premiums when you own the property for better cash flow.  I can point you in the right direction if you need help.  

There are also advantages to buying a distressed property as some people don't want to deal with the headache so you can get a better deal.

Moving forward flood insurance is probably a good idea. Mitigation techniques can sometimes lower your premiums which helps your cash flow.  Mitigation can also reduce repair time by reducing the amount of damage when something like this happens. This can lower your vacancy rate and mean less out of pocket expenses from vacancy and damage. Every property is different and I can point you in the right direction if you are looking to learn more or would like help with your property. Additionally from my understanding most policies don't cover losses from vacancy. There are a number of factors to consider here.

I am sorry to hear about the damage. My family and I evacuated as we live very close to the water on Florida's east coast where it was predicted to land initially. Best of luck getting things back up and running.