Flood insurance is among the important things to secure for your property. But, do you feel you are paying too much for it? In this episode, we uncover the hidden value in flood zones. We will also tell you ways to reduce or eliminate your flood insurance costs and substantially improve the value of your property.
How to Start Investing in Multifamily Real Estate
If you’re interested in multifamily real estate but don’t know where to begin, our guide “How to Start Investing in Multifamily Real Estate” breaks down everything you need to know about identifying good investments plus real world examples. Download your copy in the show notes or visit lifebridgecapital.com/startnow to start your journey in multifamily real estate.
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Our guest today is DJ McClure, the Director of business development for National Flood Experts, a Tampa-based engineering firm. DJ says it is important to be open-minded as there are some unicorns out there in properties within the flood zones for the investor. He also tells us how flood zones can help investors to have a better financial situation. Tune in now and find out how you can take advantage of properties in flood zones!
Key Points From This Episode:
- DJ talks about his background as Director of Business Development for National Flood Experts.
- DJ shares his journey from playing tennis to becoming a multifamily investor.
- DJ tells us what a flood zone is and why it is important for somebody in real estate.
- How does knowing where the flood zone is will help an investor have a better financial situation?
- When is the best time to reach out to an expert like DJ when a property is in the flood zone?
- DJ elaborates on the hidden value of property in a flood zone.
- The regulations around flood zones that an investor needs to be concerned about.
- How difficult is it to assume the previous policy of someone else in a flood zone?
- DJ talks about the misconceptions about flood zones.
- How and why would the property be changed from a flood zone to not being in a flood zone?
- DJ’s predictions in the real estate market over the next six to twelve months.
- The daily habits that helped DJ achieve success.
- The number one thing that contributed to DJ’s success – consistency.
“So, we’re working with property owners to look for exceptions to the rules and look for, you know, any consistencies that could be beneficial to get their premium costs reduced. In some instances even get their properties, out of the flood zones.” [0:02:47]
“I think just being more open-minded is the idea. You know there are a lot of areas of the country that are really, you know, great markets right now.” [013:39]
Links Mentioned in Today’s Episode:
About DJ McClure
DJ McClure is the Director of Sales at National Flood Experts who has helped their clients add millions in property value to their assets. DJ is originally from Kentucky with a background as a collegiate tennis player beginning his early career as a professional tennis coach before transitioning those skills into business development. DJ and his wife reside in Tampa where National Flood Experts is based overseeing a team dedicated to helping our clients.
DJ has a passion for building relationships and helping people solve problems. He works currently with real estate investors across the country to provide a niche solution to add value to their flood zone assets. Just in 2020, NFE helped its clients save over $4M.
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