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You don't have to know where the journey leads. Trust your gifts. Raise your hand. That message captures Lori Little's remarkable career and the wisdom she shares with hosts Jennifer Green and Diana McIver in this special WAHNcast 50 Over 50 episode. A Baylor Law graduate, Lori never planned on a career in affordable housing. A two-line newspaper job ad led her to research what LIHTC meant, take a chance and raise her hand. That opportunity launched decades of leadership and service, including 22 years with the National Affordable Housing Trust, where she ultimately served as CEO. Lori shares why curiosity, mentorship and a willingness to try something new have shaped her journey. She also reflects on resident services, women's evolving role in affordable housing, work-life balance and the importance of lifting up the next generation. As WAHN's inaugural Lifetime Achievement Award recipient, Lori's story is a reminder that a meaningful career doesn't always follow the path you planned. Sometimes you trust the journey, use the gifts you've been given and raise your hand.
Some people build careers in an industry. Ronne Thielen helped build the industry itself. In this special 50 Over 50 Women of Influence episode of WAHNcast, guest hosts Angie Truitt and Ashley Northcutt sit down with Ronne Thielen, Executive Vice President and Director of Public Policy & Advocacy at R4 Capital and one of affordable housing's true legends. With nearly five decades in the industry and a front-row seat to the earliest days of LIHTC, Ronne shares stories and wisdom from a remarkable career and an equally remarkable life. It's a conversation about taking chances, trusting yourself, continuing to learn and having the courage to find your own way. Fearless, brilliant and refreshingly candid, Ronne is truly a force of nature, and this is a conversation you don't want to miss.
The affordable housing landscape in Hawai'i is one with unique challenges and opportunities'which also provides an opportunity for leadership. On this week's episode of Tax Credit Tuesday, Michael Novogradac, CPA, and Brent Parker, CPA, discuss the distinctive cost drivers for affordable housing in Hawai'i, as well as various federal and state tools that developers can use to build affordable housing throughout the state. Novogradac and Parker give an overview of federal and state low-income housing tax credits (LIHTCs), disaster relief programs, state-level financing programs, 201H exemption and more. The two conclude the episode by giving a sneak peek into the agenda for Novogradac's upcoming 2026 Fall Affordable Housing Conference, Sept. 16-17 at the Hyatt Regency Waik'k' Beach Resort and Spa in Honolulu.
www.marktreichel.comhttps://www.linkedin.com/in/mark-treichel/Ryan Donovan, CEO of the Council of Federal Home Loan Banks, joins Mark Treichel to walk through what came out of the first Federal Home Loan Bank oversight hearing in 15 years — and what credit unions should take from it.The Federal Home Loan Bank System is not a well-known system, as Ryan puts it, so the testimony started with education: 11 banks serving 6,300 members — credit unions, banks, insurance companies, and community development financial institutions (CDFIs) — providing liquidity so those members can serve their own members, customers, and communities.On credit unions specifically, membership growth continues. A substantial portion of credit union assets is already inside the System; by member count, there is still room to grow among smaller institutions.Ryan explains the regulatory ask that matters most for liquidity managers: when regulators look at the liquidity coverage ratio and similar measures, Home Loan Bank advances should be treated as core liquidity, reflecting the System's reliability across its history. Those conversations have begun with the FDIC and will extend to the other member regulators, including the incoming chairman of the National Credit Union Administration (NCUA).He also draws the distinction credit unions sometimes blur: the Federal Reserve has limited lending authority — overnight lending, with limits on consecutive days and on days borrowed within a set period — while the Home Loan Bank is a daily liquidity provider, with its nexus to housing sitting in the collateral members bring, whether mortgages they originated or bought or mortgage-backed securities they hold.On interoperability — one of the two hard-to-pronounce words of the hearing, alongside countercyclical — Ryan describes the work that came out of the March 2023 lessons learned: encouraging members to establish and periodically test discount window lines, improving Fed and Home Loan Bank communication so the right people can reach each other at 6:00 on a Friday, negotiating master subordination agreements so collateral can move faster in a crisis, and proposing that the Fed accept a Home Loan Bank letter of credit on behalf of a member in stress to bridge from Friday's close to Monday's open. Mark connects this directly to staff turnover, including the roughly 27% of NCUA staff lost to buyouts, and what that does to a call tree.On housing, the banks are required by law to set aside 10% of the previous year's net earnings for the Affordable Housing Program (AHP). For the last two years they have contributed 50% more than required, putting more than $1 billion a year toward affordable housing. Ryan is candid about AHP's burden — 13 FHFA regulations and six advisory bulletins — and notes that FHFA under Director Pulte is overhauling it. He contrasts AHP dollars committed with voluntary program dollars already out the door, and warns against any change to the 10% statutory floor that would crowd out voluntary programs.The conversation closes on CDFI membership, low income housing tax credit (LIHTC) collateral that is reliable but hard to value, the subsidized programs Chicago, Boston, and Cincinnati run, H.R. 7647 and the community financial institution definition, and why insurance companies belong in the System at all.
Hosts Steve Lowery and Yvonne Godfrey interview trial lawyers Taylor Powell and Whitney Harrison about DHD Jessamine LLC v. Florence County, a Fair Housing Act case over a proposed 60-unit LIHTC affordable housing community in an unzoned “donut hole” parcel in Florence County. CASE SUMMARY: After county officials initially supported the development, neighborhood opposition and a country club meeting preceded withdrawal of support, shifting objections (traffic, drainage, sidewalks), a special meeting to fast-track a development moratorium that was enforced before becoming law, and later rezoning to R-1 to bar multifamily housing. Plaintiffs pursued disparate treatment and disparate impact claims; the court granted summary judgment on the prima facie disparate impact prong. A jury trial featured streamlined exhibits, visual timelines, and expert testimony on disparate impact. On Nov. 5, 2025, the jury awarded $8.219M compensatory and $4M punitive damages; the case later settled for $10M. GUEST BIOS Taylor Powell: Originally from Charlotte, N.C., Taylor Powell brings more than a decade of legal experience to the Lesemann & Associates team. After graduating from The Citadel in 2006 with a B.A. in Criminal Justice and a Minor in U.S. History, Taylor attended Charleston School of Law and graduated in 2011. After law school, Taylor spent two years serving as the law clerk to South Carolina Circuit Judge Larry B. Hyman, Jr. in Conway, S.C. During his eight years at Lesemann & Associates, Taylor has helped his clients achieve successful results in wrongful death and catastrophic injury cases involving tractor trailer accidents, motor vehicle accidents, accidental shootings, drunk driving accidents, dram shop litigation against bars and restaurants, products liability cases against vehicle manufacturers and car dealerships, and cases involving negligent private security. Taylor has also secured significant settlements and verdicts for clients who suffered injuries resulting from improperly paved roads, dangerous homemade zip lines, dog bites, fireworks accidents, and more. Taylor has been directly responsible for securing and collecting more than $20 million in settlements on behalf of his clients. (READ MORE) Whitney Harrison: Whitney delights in nuance, complexity, and unsettled law. Having clerked in both of South Carolina's appellate courts, Whitney's seasoned instincts inform her appellate strategy from the start of every case. As a key member of our trial teams, she anticipates and addresses legal issues at each stage of litigation while preserving the record for an appeal. By treating every case as one that will involve a trial and an appeal, Whitney provides comprehensive courtroom advocacy. Whitney has tried multiple cases to verdict, as well as handled landmark cases involving civil, criminal, family, utility, and administrative law. Firms across the state associate her to assist with complex motions, trials, and appeals. Whitney has handled over fifty appeals—with issues ranging from constitutional challenges to corporate governance to novel law—before the Supreme Court of South Carolina and the South Carolina Court of Appeals. In January 2020, Whitney became the first woman to receive the South Carolina Bar's Trial and Appellate Advocacy Award. The award—not given annually—“recognizes a member of the Bar who has demonstrated substantial dedication to the furtherance of the art and techniques of trial and appellate advocacy in South Carolina, outstanding and exemplary skill and conduct in the practice of advocacy, and has devoted substantial time and effort to the education and training of lawyers.” (READ MORE) FIND A FAVORITE SPOT IN THIS EPISODE: 00:00 Podcast Cold Open 00:29 Meet The Hosts 01:13 Introducing The Guests 01:54 Taylor Powell Bio 03:04 UCLA Office And Softball 04:41 Whitney Harrison Bio 06:11 Prizewinning Pound Cake 07:11 Case Setup And Timeline 09:41 Fair Housing Case Overview 14:10 Verdict And Damages 15:08 Crafting The Opening 18:08 Explaining FHA Theories 21:06 Sponsor Break 21:51 Donut Hole Moratorium 26:56 Ordinance Readings And Enforcement 27:48 Trial Team And Appellate Strategy 29:30 Summary Judgment Strategy 31:39 Expert Testimony Impact 34:05 Humanizing The Development 35:50 Punitive Damages Surprise 39:32 Rare Jury Trial Stakes 45:02 Witness Order And Exhibits 49:40 Trial Tech And Impeachment 52:19 Klan Comment Sidebar 58:58 Closing Argument Masterclass 01:01:07 Wrap Up And Next Steps
The 21 st Century Renewing Opportunity in the American Dream (ROAD) to Housing Act, which became law July 11, introduced sweeping changes to various housing programs and provisions. On this week's episode of Tax Credit Tuesday's "Washington Watch" series, Michael Novogradac, CPA, and Novogradac Chief Public Policy Officer Peter Lawrence discuss the act and its implications for low-income housing tax credit (LIHTC) developers and other professionals working in affordable housing. The two review 10 ways the bill impacts various programs and provisions, including the public welfare investment provision, build-to-rent provision, HOME investments partnership program, Rental Assistance Demonstration (RAD) and more. Novogradac and Lawrence also discuss the ways in which the bill might affect opportunity zones (OZs) and the new markets tax credit (NMTC) incentive.
More than just housing, Arbor 515 gives Salt Lake City residents the opportunity to build a future. The new development, a conversion of a former office building financed by Low Income Housing Tax Credits (LIHTC), provides housing for residents earning between 25% and 55% of the area median income while also offering a unique opportunity to build equity.According to developer Chris Parker, director of the Perpetual Housing Fund (PHF), most of the building's annual cash flow will be returned to residents. If Arbor 515 is refinanced or sold, residents will also receive direct payments based on the length of time they have lived in their apartments. PHF, a lean non-profit with community-first capital sources, is able to share the majority of all annual cashflow, long-term equity generation, and future refinance/sale proceeds with the residents living in a PHF project.To learn more how this innovative approach is helping low income renters build financial security and explore whether similar ideas could help address Hawaiʻi's housing challenges, please listen Senator Chang and Chris Parker's intriguing conversation!! You can also watch this webinar on Senator Chang's YouTube page: HERE.
Developers who receive low-income housing tax credits (LIHTCs) must incur at least 10% of the costs that are included in its reasonably expected basis by a specified date determined by federal and, often, state requirements in order to pass what is often called "the 10% test." On this week's episode of Tax Credit Tuesday's "So You Want to Be a LIHTC Developer" series, Michael Novogradac, CPA, and Karie McMillen, CPA, discuss the 10% test and how it came about. Novogradac and McMillen then dive into how the 10% test is calculated as a fraction, reviewing what makes up the denominator and what can potentially go into the numerator. They conclude by addressing some common challenges that developers face when it comes to meeting the 10% test.
There are advantages and disadvantages to developing real estate in any location. When it comes to affordable rental housing, some locations qualify for a 30% basis boost, which translates to the potential for generating 30% more low-income housing tax credit (LIHTC) equity. On this week's episode of the So You Want to Be a LIHTC Developer, Michael Novogradac, CPA, and Thomas Stagg, CPA, discuss three types of locations eligible for a 30% basis boost: qualified census tracts (QCTs), difficult development areas (DDAs) and a basis boost eligible to developments that have received 9% LIHTC allocation. The two conclude by introducing a new resource available through Novogradac, the Qualified Census Tract Estimator tool.
On this episode of Tax Credit Tuesday, Michael Novogradac, CPA, and Novogradac partner Charles Rhuda III, CPA, discuss several challenges that may arise while developing an affordable housing property with multiple buildings financed by private activity bonds (PABs) in combination with 4% low-income housing tax credits (LIHTCs), including when those buildings are placed in service across multiple years. Novogradac and Rhuda highlight several issues that developers, syndicators and investors should be aware of, including satisfying 25% financed-by test requirements and challenges that may come up during the lease-up period. They also discuss potential complications when using recycled PABs and other sources of financing to close the gap.
Tax credit equity pricing is determined by various important supply-and-demand factors. On this episode of Tax Credit Tuesday, Michael Novogradac, CPA, sits down with Novogradac partners and CPAs Tony Grappone, Michael Kressig, Brad Elphick and Dirk Wallace to discuss the factors affecting demand for tax credit equity in 2026 and in the future. The speakers discuss the investor market and pressing issues for low-income housing tax credits (LIHTCs), new markets tax credits (NMTCs), historic tax credits (HTCs) and renewable energy tax credits (RETCs). The five then discuss potential legislative and regulatory changes on the horizon. This episode is the second part of a two-part series, with Part 1 released June 2.
Tax credit equity pricing is determined by a variety of critical supply-and-demand factors. On this record-breaking episode of Tax Credit Tuesday, Michael Novogradac, CPA, sits down with Novogradac partners and CPAs Tony Grappone, Michael Kressig, Brad Elphick and Dirk Wallace to discuss various factors affecting tax credit equity supply in 2026 and beyond. The speakers give an overview of new markets tax credits (NMTCs), historic tax credits (HTCs), low-income housing tax credits (LIHTCs) and renewable energy tax credits (RETCs), as well as provide their estimates of what the market size will be in 2026, 2027 and 2028. The speakers then briefly discuss equity pricing in each tax credit area. This episode is the first part of a two-part series, with part two slated to release next Tuesday.
The U.S. Department of Housing and Urban Development (HUD) released income limits May 1 for fiscal year (FY) 2026. On this week's episode of Tax Credit Tuesday, Michael Novogradac, CPA, and Thomas Stagg, CPA, discuss the new income limits and how they are used to determine eligibility and calculate rent limits for HUD-assisted programs and low-income housing tax credit (LIHTC) properties. Novogradac and Stagg give an overview of the new income limits and review the factors that determine them. The two then discuss the potential impact that income limits will have on year-over-year income growth, as well as factors that various stakeholders should consider. They close the episode with an overview of various Novogradac resources to understand income limits, including the upcoming Novogradac 2026 HUD Rent and Income Limits and Outlook for 2027 Webinar.
Arizona Senator Wendy Rogers joins Jeff for a wide-ranging discussion on the budget showdown at the Arizona Legislature and the growing political battles shaping the state's future. Senator Rogers breaks down the chaotic budget situation at the Capitol, what went wrong, and why lawmakers continue struggling to find agreement. The conversation also dives into Arizona's crowded ballot initiative landscape, including whether the high-profile ESA/school choice initiative can actually survive the signature and voter gauntlet. Jeff and Senator Rogers also discuss a recent meeting with the City of Flagstaff and Mayor Becky Daggett focused on Northern Arizona water concerns, including: Desalinization proposals Long-term aquifer use Possible federal funding involvement The future of water infrastructure in Arizona The episode wraps with a discussion on rural housing challenges and whether rural tax credits and LIHTC-style incentives are truly conservative solutions — or just another form of government-driven development policy. Politics, water, housing, and Arizona's uncertain future — all in one episode.
Legislative changes and policy updates have continued to shape the tax credit world over the course of the first quarter of 2026. On the inaugural episode of Tax Credit Tuesday's new Washington Watch series, Michael Novogradac, CPA, and Novogradac Chief Public Policy Officer Peter Lawrence discuss the latest policy updates in the tax credit world from Capitol Hill. The two discuss recent developments regarding the low-income housing tax credit (LIHTC), the opportunity zones (OZ) incentive, as well as the proposed budget for the U.S. Department of Housing and Urban Development (HUD). Novogradac and Lawrence also discuss a variety of resources Novogradac provides to help navigate these developments, including the Novogradac news pages and the various Novogradac working groups.
Examine tenant-led movements and legal strategies to preserve affordability and resist displacement. It could highlight lawsuits like the one in Missouri where tenants fought to keep their homes within the LIHTC program, connecting to broader tenant unionization efforts nationwide.
Join the Co-Investing Club and start building passive income through real estate: https://sparkrental.mykajabi.com/co-investing-club-sparkrental Every asset class looks frothy right now. The S&P 500 has had three straight years of outsized returns. Nvidia is up 721% in three years. Gold and silver are surging. Home prices hover near record highs. So where do you actually put your money? In this session, Brian and Deni break down how they personally invest in real estate when everything looks like a bubble… and why multifamily might be the exception. We cover: → → Why multifamily already had its crash (down 25-30% from 2022 peak) → The three biggest risks in real estate right now: recession, inflation and geopolitical uncertainty → How recessions are a double-edged sword (lower NOI but also lower interest rates and cap rates) → Recession-resilient strategies: property tax abatements, LIHTC properties and the Section 8 overhang loophole → Why Class B multifamily can actually benefit during downturns → How new multifamily supply is crashing (creating tailwinds for existing properties) → What the 2025 UBS Billionaire Survey says about where the ultra-wealthy are moving money → Dollar cost averaging into passive real estate ($5k at a time across 12+ deals per year) → Diversifying across geography, asset types, operators and investment timelines → Creating a bell curve of returns instead of betting everything on one deal → Real lessons from deals that went south (and how to vet lead sponsors vs. co-sponsors) Whether you're worried about a stock market correction or looking for alternatives to overpriced assets, this session walks through a practical framework for investing through uncertainty. New to passive real estate investing? Take our free course: https://sparkrental.com/free Questions? Email us: support@sparkrental.com #RealEstateInvesting #MultifamilyInvesting #PassiveRealEstate #RecessionProofInvesting #DollarCostAveraging #RealEstateSyndication #PassiveIncome #AssetAllocation #InvestmentDiversification #RealEstateRisk #LIHTC #Section8Investing #AlternativeInvestments #WealthBuilding #FinancialIndependence
Examine tenant-led movements and legal strategies to preserve affordability and resist displacement. It could highlight lawsuits like the one in Missouri where tenants fought to keep their homes within the LIHTC program, connecting to broader tenant unionization efforts nationwide.
First-year qualifying occupancy reports are essential for compliance with the low-income housing tax credit (LIHTC), but the processes can be challenging. On this episode of Tax Credit Tuesday, Michael Novogradac, CPA, and Novogradac Director of Multifamily Property Compliance Stephanie Naquin review the most common compliance mistakes LIHTC properties make regarding first-year qualifying occupancy reports, and how to avoid them. The pair discuss four categories of common errors: misunderstanding state requirements, tenant income calculation, implementing the Housing Opportunity Through Modernization Act of 2016 (HOTMA) and using the wrong forms or completing them incorrectly. The categories come from a survey conducted recently by Naquin and her team, which was covered in the March issue of the Novogradac Journal of Tax Credits magazine.
When it comes to the low-income housing tax credit (LIHTC) allocation and underwriting, it's critical to have a thorough understanding of the basics. With the Spring 2026 Novogradac LIHTC Allocation and Underwriting Basics Course on the horizon (every Thursday from March 26 to April 30), Michael Novogradac, CPA, and course instructor'Mark Shelburne dive into LIHTC basics. Novogradac and Shelburne discuss the course and the topics it will cover, including eligible basis and boost, applicable fraction and tax credit rate, equity investment and qualified allocation plans on a week-by week basis. The pair also shout out the various instructors that will lead the training alongside Shelburne. The episode concludes with a discussion of Novogradac LIHTC services and the upcoming Novogradac 2026 Affordable Housing Conference, May 7-8 in San Deigo.
Join the Co-Investing Club and start building passive income through real estate: https://sparkrental.com/coinvesting/ Most investors have never heard of buying tax credits—but it's a strategy that can reduce your tax bill by 15-20%. In this episode, Brian sits down with Brian Seidensticker, founder of Tax Sale Resources and Mountain North Capital, to break down how LIHTC (Low-Income Housing Tax Credits) and historic tax credits actually work. We cover: → How developers receive 9% of project costs as tax credits over 10 years → Why developers sell their tax credits at 80-85 cents on the dollar → How investors can buy those credits and reduce their taxes by 15-20% → Historic tax credits: getting 20-40% back on renovations of older buildings → Converting old schools and historic properties into apartments → The "Section 8 overhang" loophole for LIHTC properties → How to collect market rents while keeping LIHTC benefits → Tax liens vs. tax deeds and participating in tax sale auctions Whether you're a high-income earner looking for tax reduction strategies or a developer trying to fund projects, this episode breaks down one of real estate's most misunderstood niches. New to passive real estate investing? Take our free course: https://sparkrental.com/free Questions? Email us: support@sparkrental.com Other resources mentioned: Last Best Partners: https://www.lastbestpartners.com/comp... Tax Sale Resources: https://taxsaleresources.com #TaxCredits #LIHTC #HistoricTaxCredits #RealEstateInvesting #TaxStrategy #LowIncomeHousing #TaxReduction #RealEstateDevelopment #TaxLiens #TaxDeeds #PassiveIncome #AlternativeInvestments #NicheInvesting #TaxSales #AffordableHousing
In this episode of WAHNcast, we sit down with leaders from CohnReznick to unpack insights from the 2025 Affordable Housing Credit Study, one of the most widely referenced performance benchmarks in the LIHTC industry. Hosted by Stephanie Sleva, Senior Assurance Manager at CohnReznick and Founding Member and Board President of the Pennsylvania chapter of WAHN, the conversation explores how LIHTC portfolios are performing post-pandemic, what trends are holding steady, and where new pressures are reshaping underwriting, operations, and policy. Stephanie is joined by: Cindy Fang, Partner at CohnReznick and Tax Credit Investment Services Leader, as well as a member of WAHN's National Sponsorship Committee, who shares key takeaways from nearly 25 years of the study and what they signal for investors and developers. Regan St. Pierre, Director at CohnReznick and Co-Author of the Affordable Housing Credit Study, who highlights what makes the study unique and how stakeholders can use its interactive tools to inform smarter decision-making. The episode also includes a special moment honoring Beth Mullen, CohnReznick's Affordable Housing Industry Leader and WAHN's Lifetime Achievement Award Winner, recognized for her extraordinary impact on the industry, her mentorship, and her unwavering commitment to advocacy. Together, this conversation reinforces a powerful message: the LIHTC program remains resilient, effective, and essential—and the data behind it matters more than ever. Access the full 2025 Affordable Housing Credit Study and interactive tools: https://creditstudy.cohnreznick.com
The One Big Beautiful Bill Act (OBBBA), approved July 4, 2025, made various significant changes to the low-income housing tax credit (LIHTC) incentive. Among key changes, the OBBBA lowered the threshold for private activity bond (PAB) financing required to qualify for 4% LIHTCs from 50% of a development's land and building costs to 25%. On this episode of the Tax Credit Tuesday podcast, Michael Novogradac, CPA, and Novogradac partner Dirk Wallace, CPA, explore how this change is affecting financing for affordable housing development. Novogradac and Wallace provide an overview of the 25% test and PABs, including recycled PABs. The pair also discuss how states are implementing the 25% financed-by test, as well as the ways developers are overcoming the financing gap the new test created. Finally, Novogradac and Wallace conclude by discussing how to maximize net operating income (NOI) by approaching operating expenses as efficiently as possible.
Rental income and operating expenses for low-income housing tax credit (LIHTC) properties have seen significant increases over recent years. On this episode of the Tax Credit Tuesday podcast, Michael Novogradac, CPA, and Novogradac partner Kelly Gorman review the 2025 Novogradac Low-Income Housing Tax Credit Income and Operating Expenses Report, which provides an in-depth look at 2024 rental income, operating expenses and net operating income for LIHTC properties tracked by Novogradac. Novogradac and Gorman provide their perspective on the relationship between rental income and operating expenses, as well as annual and compound annual growth rates. The two then discuss the two largest operating income expenses, which were property insurance and repairs and maintenance, and how to handle those expenses in the underwriting and budgeting process.
Matt Faircloth interviews David Kamara of Cape Sierra Capital, who shares how patience, operational discipline, and a willingness to tackle complex deal structures have shaped his investing success. David walks through his path from management consulting to multifamily ownership, explaining how hands-on operations, strong reserves, and trusted property management partners helped him navigate fires, insurance claims, and long hold periods while still delivering outsized returns. The conversation dives deep into niche strategies like LIHTC properties coming off restrictions and Housing Assistance Program (HAP) deals, highlighting why many investors avoid them—and how that creates opportunity for those willing to be patient. David also breaks down why investing close to home, even in smaller Midwest markets, has allowed him to scale efficiently while maintaining control over operations and risk. David KamaraCurrent role: Founder and Principal, Cape Sierra CapitalBased in: Ann Arbor, MichiganSay hi to them at: https://capesierracapital.com/ | Join us at Best Ever Conference 2026! Find more info at: https://www.besteverconference.com/ Join the Best Ever Community The Best Ever Community is live and growing - and we want serious commercial real estate investors like you inside. It's free to join, but you must apply and meet the criteria. Connect with top operators, LPs, GPs, and more, get real insights, and be part of a curated network built to help you grow. Apply now at www.bestevercommunity.com Podcast production done by Outlier Audio Learn more about your ad choices. Visit megaphone.fm/adchoices
We're back for more stories about the impact the David Eccles School of Business has on their lives and careers, and for this episode, host Frances Johnson is joined by Ashley Atkinson Williamson, Founder and Principal at Williamson Development. In this episode, Frances talks to Ashley about her journey from med school to finance and then real estate, and what valuable lessons she learned from each segment, and how it all helps her now in her passion for real estate development. Ashley discusses her other significant projects, including the co-founding of Utah's Perpetual Housing Fund, and highlights the importance of adaptability, intuition, continuous learning, and building strong relationships. Ashley also emphasizes the value of grit and open-mindedness in navigating career changes and underscores the importance of community involvement and giving back.Eccles Business Buzz is a production of the David Eccles School of Business and is produced by University.fm.Eccles Business Buzz is proud to be selected by FeedSpot as one of the Top 70 Business School podcasts on the web. Learn more at https://podcast.feedspot.com/us_business_school_podcasts. Episode Quotes:Being a lifelong learner helps you embrace change and every pivot that comes with it.[21:21] I think that intuitiveness comes from experiences and learning. Now I'm 30, almost 35, and I still am like, well, now what am I going to learn? Like now I learned LIHTC; what should I learn next? Because you just have no idea where that's going to help you somewhere else. Anyway, I think continuing to want to learn and enjoy it, even if it's like architecture or planning or art or something that really, maybe it's adjacent, maybe it has nothing to do with your career, I think reading books about anything will help you somewhere. So I think just that mindset of enjoying learning—try to keep that up even when you're in the thick of long workweeks and your late twenties and early thirties. Find a way to learn and enjoy what you're learning.Ashley reveals what it took for her to push past the fear of changing careers.[16:42] Frances Johnson: Talk to us about how you motivated yourself and how you prepared yourself. What was it, maybe a mantra or a ritual or something that allowed you to overcome that fear and just really go for the opportunity?[16:58] Ashley Atkinson Williamson: I think it was just this self-knowing that this is where I want to be. I could have stayed at the bank; I could have worked my way up, but looking like five or ten years ahead, would I just have wasted those five or ten years, or would I be putting my effort into something else? And I have to attribute it to just grit. Like I just knew that this is where I was supposed to be. There were a lot of miserable days. Some of those days dragged on for a very long time, but I just, if this is what I wanted to do, I had to start somewhere. I had to get my foot in the door, and I do think that's one of my most valuable skills, especially being a developer.How staying connected to the alumni network opened doors for Ashley[30:52] I have gotten job offers, partnership opportunities from the relationships that I made years later. Like you talked about, maybe these relationships are going to bring opportunities years in the future. I'm really busy now. I'm running a business, and I'm a mom to a one-and-a-half-year-old, but I still make a point to say yes anytime I get invited to the U because, and I'm sure this is the same for most alums, we just want to give back to the school that gave so much to us. And I love getting invited to come back, and I love meeting with the students, and I really hope that I can inspire someone that maybe is nervous about jumping into something that seems scary or not following exactly the trajectory that seems like either their other classmates are doing or their mentors are kind of pushing them. Like just be open to doing something a little different. Anyway, I am always excited to come and tell my story and to try to help any students that I can.Show Links:Ashley Atkinson Williamson | LinkedInUtah's Perpetual Housing Fund | WebsiteDavid Eccles School of Business (@ubusiness) | InstagramUndergraduate Scholars ProgramsRising Business LeadersEccles Alumni Network (@ecclesalumni) | Instagram Eccles Experience Magazine
Public housing authorities (PHAs) are increasingly finding that common funding opportunities such as U.S. Department of Housing and Urban Development (HUD) financing is not meeting their operational or capital needs. With recent policy changes on the horizon that will further drain PHA resources, many are turning to programs such as Rental Assistance Demonstration (RAD). On this episode of the Tax Credit Tuesday podcast, Michael Novogradac, CPA, and Novogradac partner Rich Larsen, CPA, give a crash course on the RAD program and discuss how PHAs can utilize RAD to support their public housing developments. The pair also discuss how to most effectively utilize tax credit equity, such as low-income housing tax credit (LIHTC) equity, in RAD transactions.
Developers of affordable rental housing using low-income housing tax credits (LIHTCs) want to know what they can include in eligible basis calculations. In the latest installment in the "So You Want to Be a LIHTC Developer" series of the Tax Credit Tuesday podcast, Michael Novogradac, CPA, and Novogradac partner Christina Apostolidis, CPA, discuss three issues around eligible basis. First, they discuss the treatment of community service areas in the calculation for eligible basis. Next, Novogradac and Apostolidis cover enhancements made that are not physically part of the main development site, better known as off-site improvements. Finally, the pair discuss the issues around impact fees.'
In this episode of BuzzHouse, Don Bernards and Garrick Gibson sit down with Philip Porter, senior vice president and head of acquisitions at Enterprise Housing Credit Investments, to make sense of the shifting landscape in low-income housing tax credit equity.Philip breaks down what developers should know about lower credit pricing, the impact of recent legislation like the One Big Beautiful Bill Act, and what's really driving changes in investor behavior. From construction timelines to CRA cycles, they unpack how demand, policy and capacity are colliding in today's LIHTC market.If you've been wondering what all this means for pricing, underwriting and syndication strategy, this episode covers it all.Follow UsTwitter @BakerTillyUSFacebook @BakerTillyUSInstagram @bakertillyusPresented by Baker Tillywww.bakertilly.com Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.
Get my new book: https://bronsonequity.com/fireyourselfDownload my new special report - How to Use Inflation to Your Advantage - www.bronsonequity.com/inflationWelcome to our latest episode!Join Bronson today for an episode with Denis Shapiro, author of The Alternative Investment Almanac and Managing Partner of SIH Capital Group. Denis dives into his evolution from government work to real estate syndication, spotlighting niches like LIHTC affordable housing and Jersey Shore boutique hotels. Explore market timing for 2025 acquisitions, contrarian strategies amid cooling multifamily sentiment, and offbeat personal plays like litigation finance—all geared toward passive investors chasing cash flow, appreciation, and tax perks.Unpack why niches beat broad plays, how lower LTVs and refi-friendly loans create windfalls, and tips for vetting operators while balancing life stability.TIMESTAMPS0:41 — Guest Intro: Denis Shapiro1:23 — From Government to Investing: Early Days & Syndication Pivot3:46 — Progression: LP to JV to Operator7:14 — Re-Engaging the Entrepreneur Bug in Real Estate7:56 — What Makes a Great Operator: Stability, Time, & Team Structure10:17 — Vetting Operators as a Passive Investor11:03 — Shift to Affordable Housing & Hospitality12:45 — LIHTC Properties: Low-Income Tax Credits Explained14:28 — Niches Like Tax Abatements & Grants15:39 — Riches in the Niches: Learning Curve in Affordable Housing16:37 — Hospitality Opportunities: Jersey Shore Turnarounds17:55 — Boutique Hotels: Location Over Room Count19:02 — Seller-Financed Deals & Family Legacies20:25 — Contrarian Investing: Greedy When Others Are Fearful21:28 — 2025 Outlook: Lower Rates, Better Pipelines23:48 — Loan Structures: 3-2-1 Prepayments & Refi Goldilocks25:27 — Low LTVs: Margin of Safety for LPs27:17 — Ideal Setup for Multifamily Windfalls28:11 — Exciting Side Plays: Turnkey Multis & Litigation Finance30:08 — Personal Investments: Sports Ownership & Marinas32:07 — Where to Follow DenisBook: "The Alternative Investment Almanac by Denis Shapiro"Email: Denis@SIHCapitalGroup.comWebsite: https://sihcapitalgroup.com/X: https://x.com/sihcapital?lang=enInstagram: https://www.instagram.com/sihcapitalgroup/?hl=enLinkedin: https://www.linkedin.com/in/denisshapiro#AlternativeInvesting#AffordableHousing#HospitalityRealEstate#RealEstateSyndication#LIHTC#ContrarianInvesting#PassiveIncome
While changes to the low-income housing tax credit (LIHTC) will help address America's affordable housing shortage, there remains a significant gap to help renovate and preserve affordable rental housing'a gap that could be addressed by a proposed tax incentive that would allow nonprofit developers and property managers to raise capital from individual investors to finance those improvements. In this week's podcast, Michael Novogradac, CPA, Novogradac partner Kevin Wilson, CPA, and Peter Lawrence, Novogradac's chief public policy officer, discuss the proposal, including why there's a need, how it would work, where it is in the legislative process and how a new Novogradac working group is addressing the issue.
Today on the podcast, Gary sits down with Joe Rinderknecht, founder of Upgrade Partners Capital, a fund of funds, and Cowboy Capital, a real estate investment firm specializing in value-add multifamily properties. With nearly a decade of experience in commercial real estate, Joe has owned and invested in roughly 600 apartment units across Montana, Idaho, Utah, Texas, and Ohio. His background spans property and construction management, asset management for large portfolios, and capital raising for a range of projects. In this conversation, Joe shares his approach to overcoming analysis paralysis through actionable steps like 10-minute napkin underwriting, dives into his strategies for investment and market selection, tells us how he honed his skills in asset management, and shares why understanding every part of the process matters. He also opens up about Tiny's Tribe, the nonprofit he founded in memory of his brother and grandmother. Tune in for an inspiring and insightful discussion packed with practical advice, personal stories, and lessons on taking action even when fear stands in the way.Key Points From This Episode:We're introduced to today's guest, Joe Rinderknecht.Joe shares his real estate journey and how he got into commercial real estate.He recounts his first encounter with LIHTC section 42. Joe's advice on overcoming analysis paralysis.His strategy for potential investment properties and market selection.How Joe got into and learned the ropes of asset management. He sheds light on Tiny's Tribe nonprofit work.How to get in contact with Joe. Links Mentioned in Today's Episode:Joe Rinderknecht on LinkedInJoe Rinderknecht on InstagramJoe Rinderknecht on EmailCowboy CapitalTiny's Tribe on FacebookObsidian CapitalLevi Allen on LinkedInAsset Management Mastery Facebook Group Invest SmartBreak of Day Capital Break of Day Capital InstagramBreak of Day Capital YouTubeGary Lipsky on LinkedIn
The One Big Beautiful Bill Act, approved July 4, introduced sweeping changes to various community development tax credits. In this episode of Tax Credit Tuesday, Michael Novogradac, CPA, sits down with Novogradac partners Brad Elphick, CPA, Tony Grappone, CPA and Dirk Wallace, CPA, to discuss what those changes are and how they are shaping the present and future of the tax credit equity market. The group reviews the various changes to the low-income housing tax credit (LIHTC), the new markets tax credit (NMTC) and the renewable energy tax credit (RETC) and their impact on tax credit supply and equity prices. Then, they discuss the ways in which these policies may impact the market in 2026 and 2027. Finally, the group dives into how developers can increase the equity pricing for their transactions.
Jason Martins is a Certified Property Manager and seasoned real estate investor overseeing more than 170 rentals across multiple states, with over 17 years in property management. His expertise spans conventional, LIHTC, and Section 8 housing, blending hands-on experience with strategic investment insight. Fluent in English and Portuguese and proficient in Spanish, Jason is an active member of the Central Florida Chapter of the Institute of Real Estate Management®, where he continues to lead and inspire within the industry. Here's some of the topics we covered: How Jason Built His Property Management Expertise The Game-Changing First Multifamily Deal Overcoming the Fear of Raising Capital Secrets to Finding the Right Investor Demographic How Technology Can Supercharge a Remote Real Estate Team Why Educating Your Property Management Company Is Non-Negotiable Key Traits Every Successful Multifamily Partner Shares How to Crush Fear and Take Bold Action in Real Estate If you'd like to apply to the warrior program and do deals with other rockstars in this business: Text crush to 72345 and we'll be speaking soon. For more about Rod and his real estate investing journey go to www.rodkhleif.com
Investor Fuel Real Estate Investing Mastermind - Audio Version
In this conversation, Rick Sims discusses the importance of developing community housing solutions and the role of equity in affordable housing. He emphasizes the potential for individuals to create their own retirement jobs through nonprofit trusts and the significant equity that can be gained from successful housing deals. Additionally, he addresses common misconceptions surrounding affordable housing and Section 8 programs. Professional Real Estate Investors - How we can help you: Investor Fuel Mastermind: Learn more about the Investor Fuel Mastermind, including 100% deal financing, massive discounts from vendors and sponsors you're already using, our world class community of over 150 members, and SO much more here: http://www.investorfuel.com/apply Investor Machine Marketing Partnership: Are you looking for consistent, high quality lead generation? Investor Machine is America's #1 lead generation service professional investors. Investor Machine provides true ‘white glove' support to help you build the perfect marketing plan, then we'll execute it for you…talking and working together on an ongoing basis to help you hit YOUR goals! Learn more here: http://www.investormachine.com Coaching with Mike Hambright: Interested in 1 on 1 coaching with Mike Hambright? Mike coaches entrepreneurs looking to level up, build coaching or service based businesses (Mike runs multiple 7 and 8 figure a year businesses), building a coaching program and more. Learn more here: https://investorfuel.com/coachingwithmike Attend a Vacation/Mastermind Retreat with Mike Hambright: Interested in joining a “mini-mastermind” with Mike and his private clients on an upcoming “Retreat”, either at locations like Cabo San Lucas, Napa, Park City ski trip, Yellowstone, or even at Mike's East Texas “Big H Ranch”? Learn more here: http://www.investorfuel.com/retreat Property Insurance: Join the largest and most investor friendly property insurance provider in 2 minutes. Free to join, and insure all your flips and rentals within minutes! There is NO easier insurance provider on the planet (turn insurance on or off in 1 minute without talking to anyone!), and there's no 15-30% agent mark up through this platform! Register here: https://myinvestorinsurance.com/ New Real Estate Investors - How we can work together: Investor Fuel Club (Coaching and Deal Partner Community): Looking to kickstart your real estate investing career? Join our one of a kind Coaching Community, Investor Fuel Club, where you'll get trained by some of the best real estate investors in America, and partner with them on deals! You don't need $ for deals…we'll partner with you and hold your hand along the way! Learn More here: http://www.investorfuel.com/club —--------------------
The One Big Beautiful Bill Act (OBBBA), signed into law July 4, lowered the tax-exempt bond financed- by test for low-income housing tax credit (LIHTC) properties from 50% to 25%. In this episode of the Tax Credit Tuesday podcast, Michael Novogradac, CPA, and Novogradac Housing Policy Consultant Mark Shelburne discuss the ways in which state housing agencies are implementing the new test. They discuss how the 25% financed-by test gives states the ability to finance more affordable housing with the same amount of bond cap. The pair then explain how states can begin implementing the new test. States can implement the test on its effective date in one as of Jan. 1, 2026; wait until 2027 and spend 2026 deciding how they will implement it; or lean into the new rule and start taking actions in 2025.
We celebrate 2025 Hispanic Heritage month's theme "Collective Heritage: Honoring the Past, Inspiring the Future" with great conversation between mentors and Mentees. Erica is talking to the authors of with Latinx/e In Social Work Volume 3 along with their Madrinas/Padrinos (mentors) for a look into the process of what it takes to build community in the social work field. She is joined by Vol. 3 Author Pilar O. Bonilla, MSW and her Mentor / Madrina Rosita Marinez, MS-NPL, ADV-CSW, MSW, about supports, mentorship, and community.More about our guest:Rosita Marinez is the Senior Vice President of Supportive Housing at the Institute for Community Living. She manages the country's largest NY OMH housing portfolio for people with serious mental illness and co-occurring disorders. A social work executive and LIHTC-certified consultant. She has developed several programs in housing, mental health, and HIV/AIDS. She is also a mentor for RELISH and various mentorship programs. You can contact her below:LinkedIn: https://www.linkedin.com/in/rosita-marinez-a1443966/IG: https://www.instagram.com/rosita.marinez/Blue Sky: https://bsky.app/profile/rositamarinez.bsky.social Pilar O. Bonilla, MSW, earned her Master of Social Work degree from Hunter College Silberman School of Social Work. As a self-described social justice worker, Pilar is actively involved in the Payment for Placements (P4P) movement, the Social Worker Equity Campaign (SWEC), and the #StopASWB Campaign—advocating for racial, gender, and socioeconomic justice through collective action that is needed for long-term change. You can contact her below:LinkedIn: https://www.linkedin.com/in/pilar-o-bonilla/IG: https://www.instagram.com/daringly_myself/BlueSky: https://bsky.app/profile/daringlymyself.bsky.socialFollow LatinX in Social Work on the web:LinkedIn: https://www.linkedin.com/in/erica-priscilla-sandoval-lcsw-483928ba/Instagram: https://www.instagram.com/latinxinsocialwork/Website: https://www.latinxinsocialwork.com/Get the best selling book Latinx in Social Work: Stories that heal, inspire, and connect communities on Amazon today:https://www.amazon.com/dp/1952779766
The One Big Beautiful Bill Act (OBBBA), signed into law July 4, lowered the tax-exempt bond financed- test for low-income housing tax credit properties from 50% to 25%, giving states the ability to potentially double the amount of bond-financed tax credit transactions that they can finance with the same amount of bond cap. In this episode of the Tax Credit Tuesday podcast, Michael Novogradac, CPA, Novogradac partner Charlie Rhuda, CPA, and Novogradac principal Julie Lawrence, CPA, discuss Internal Revenue Code Section 42 and Section 142(d) key compliance areas, including minimum set-aside tests, rent limit rules, handling over-income tenants and compliance monitoring. The episode provides valuable insights for developers and investors on navigating the complexities of combining LIHTC with private-activity bonds.
Partnerships provide a mutually beneficial legal structure for developers and investors to create and rehabilitate affordable rental housing with low-income housing tax credits (LIHTC). In the second installment of a two-episode set on LIHTC partnerships, Michael Novogradac, CPA, and Novogradac partner Nicolo Pinoli, CPA, discuss the importance of having partnership allocations of tax attributes be respected, as well as the requirements to have allocations of tax attributes be respected. They discuss the set of regulations that create a safe harbor, and what it means when developers and investors do not qualify for the safe harbor. Finally, Novogradac and Pinoli discuss exit taxes and the fact that many affordable housing developments will have notable residual value at the end of Year 15.
Amid budget negotiations, shifting tax credit allocations and evolving funding programs, LIHTC developers are facing a dramatically changing landscape. The recently passed “One Big Beautiful Bill” is already reshaping how housing projects will be financed, structured, and planned in 2026 and beyond.In this episode of BuzzHouse, Don Bernards and Garrick Gibson walk through the biggest updates that matter most to affordable housing professionals. Listen now to stay ahead of what's changing and how it affects your pipeline.Follow UsTwitter @BakerTillyUSFacebook @BakerTillyUSInstagram @bakertillyusPresented by Baker Tillywww.bakertilly.com
Global Investors: Foreign Investing In US Real Estate with Charles Carillo
In this episode of the Global Investors Podcast, Charles Carillo interviews Jay Biggins, a seasoned investor with over 25 years of experience in value-add affordable housing strategy and LIHTC multifamily investing. You'll hear how Jay built his business without syndication, scaled from small C-class properties to a large portfolio across multiple states, and why he prefers self-management over third-party property management. Topics Covered: Building a multifamily portfolio without syndication Moving from C-class to LIHTC affordable housing Why self-management can beat third-party property management Finding hidden value-add opportunities in deals The “Four Cs” formula for higher cash flow Managing properties across multiple states Avoiding common multifamily investing mistakes Using over-delivery to boost occupancy and renewals Learn More About Jay Here: Website - https://www.multihousing.com Connect with the Global Investors Show, Charles Carillo and Harborside Partners: ◾ Setup a FREE 30 Minute Strategy Call with Charles: http://ScheduleCharles.com ◾ Learn How To Invest In Real Estate: https://www.SyndicationSuperstars.com/ ◾ FREE Passive Investing Guide: http://www.HSPguide.com ◾ Join Our Weekly Email Newsletter: http://www.HSPsignup.com ◾ Passively Invest in Real Estate: http://www.InvestHSP.com ◾ Global Investors Web Page: http://GlobalInvestorsPodcast.com/
President Donald Trump on July 4 approved multi-trillion-dollar reconciliation legislation that enacts sweeping reforms to various tax credits, including the low-income housing tax credit (LIHTC). In this week's episode of Tax Credit Tuesday, Michael Novogradac, CPA, and Dirk Wallace, CPA, review various provisions included in the legislation and discuss how the bill will impact LIHTC developers, syndicators and investors. They begin by talking about the change from the 50% financed-by test to 25%, then explain the 12% increase in the supply of 9% LIHTCs and the return of 100% bonus depreciation. They assess the impact that phasing out the Section 45L credit will have on LIHTC developments. Finally, they discuss additional key legislative items that were not included in the bill.
Developers of affordable housing that qualifies for the historic rehabilitation tax credit (HTC)'as well as historic property developers who are including affordable homes in their property'can use both the HTC and the low-income housing tax credit to finance their property. In this week's episode of Tax Credit Tuesday, Michael Novogradac, CPA, and John DeJovine, CPA, discuss the considerations and options for combining those two community development tax incentives. They begin by looking at what types of developers most commonly pair the credits, then talk about what a low-income housing tax credit developer should know before diving into HTC financing. After that, they look at structuring alternatives, other tax issues and crucial factors around calculating basis.
Partnerships provide a mutually beneficial legal structure for developers and investors to create and rehabilitate affordable rental housing with low-income housing tax credits (LIHTC). In the first installment of a two-episode set on LIHTC partnerships, Michael Novogradac, CPA, and Nicolo Pinoli, CPA, discuss some of the details about these legal structures in this week's episode of the Tax Credit Tuesday podcast. Novogradac and Pinoli discuss why developers and investors might choose partnerships over other legal structures, the value of partnerships to deliver economic benefits, how the economic substance doctrine applies to partnerships, how partnership requirements deliver some potential benefits to the investor and the power of partnerships to deliver on public policy goals.
On today's show we are talking about access to US Federal low income housing tax credits. This is something that frankly has not made headlines. The Low-Income Housing Tax Credit (LIHTC) program is the primary federal program for encouraging the development and preservation of affordable rental housing in the United States. Here's how bonding capacity links to LIHTC and how recent legislation has changed the requirements.The Act permanently reduces the threshold for private activity bond financing from 50% to 25% of the aggregate basis of the building and land costs. They effectively doubled the impact of bonding capacity and therefore they doubled the low income housing tax credits that are possible for the same amount of bonding.-----------**Real Estate Espresso Podcast:** Spotify: [The Real Estate Espresso Podcast](https://open.spotify.com/show/3GvtwRmTq4r3es8cbw8jW0?si=c75ea506a6694ef1) iTunes: [The Real Estate Espresso Podcast](https://podcasts.apple.com/ca/podcast/the-real-estate-espresso-podcast/id1340482613) Website: [www.victorjm.com](http://www.victorjm.com) LinkedIn: [Victor Menasce](http://www.linkedin.com/in/vmenasce) YouTube: [The Real Estate Espresso Podcast](http://www.youtube.com/@victorjmenasce6734) Facebook: [www.facebook.com/realestateespresso](http://www.facebook.com/realestateespresso) Email: [podcast@victorjm.com](mailto:podcast@victorjm.com) **Y Street Capital:** Website: [www.ystreetcapital.com](http://www.ystreetcapital.com) Facebook: [www.facebook.com/YStreetCapital](https://www.facebook.com/YStreetCapital) Instagram: [@ystreetcapital](http://www.instagram.com/ystreetcapital)
On this episode of The Horizon, John discusses the long-term implications of the newly passed U.S. tax law and its impact on commercial real estate. He highlights the permanence of key provisions like accelerated depreciation, Opportunity Zones, and LIHTC expansions, explaining how they open the door for long-term investment strategies and development models. John also breaks down the potential inflationary effects of tariffs—particularly on construction materials—and how that could influence interest rates and Federal Reserve policy. He closes with insights on job market data, noting mixed signals beneath the headline unemployment rate and suggesting caution ahead. Get a 4-week trial, free postage, and a digital scale at https://www.stamps.com/cre. Thanks to Stamps.com for sponsoring the show! Post your job for free at https://www.linkedin.com/BRE. Terms and conditions apply. Join the Best Ever Community The Best Ever Community is live and growing - and we want serious commercial real estate investors like you inside. It's free to join, but you must apply and meet the criteria. Connect with top operators, LPs, GPs, and more, get real insights, and be part of a curated network built to help you grow. Apply now at www.bestevercommunity.com Learn more about your ad choices. Visit megaphone.fm/adchoices
The One Big Beautiful Bill is now law, and its impact on housing could be massive.The Low-Income Housing Tax Credit received its biggest reform in 25 years, including halving the requirements of how much of its funding must come from municipal bonds.LIHTC and the Opportunity Zones program were both made permanent, and major adjustments to OZs — including a wave of new zones to come and a new focus on rural areas — could supercharge housing development.It's not just a welcome step from the U.S. government, Camden President and Chief Financial Officer Alex Jessett said on this week's episode — new tax treatment and a deregulation push are absolutely critical to get housing supply up and start to chip away at the nation's affordable housing crisis.Register on Bisnow.com to join next Friday's conversation live, or check back here for the conversation after it airs.
When President Donald Trump signed multi-trillion-dollar reconciliation legislation July 4, it included provisions to expand the low-income housing tax credit (LIHTC), make permanent the opportunity zones (OZ) incentive and new markets tax credit (NMTC) and sharply pare back clean energy tax incentives. On this week's episode of Tax Credit Tuesday, Michael Novogradac, CPA, discusses the bill's provisions with Peter Lawrence, Novogradac's chief public policy officer; Jason Watkins, CPA; and Tony Grappone, CPA. They begin by looking at how the legislation was passed in Congress, then dive into the specific provisions for the LIHTC, OZs and NMTCs before taking a deeper dive into how clean energy tax credits were cut back. They then look at some cross-cutting provisions that will affect community development tax credits and what provisions failed to make it into the final reconciliation bill.
Jay Biggins is a seasoned entrepreneur with over 23 years of experience revitalizing multifamily assets and creating thriving, affordable communities. As the founder of Multihousing.com, he has completed more than 150 successful transactions, specializing in repositioning USDA RD housing, condo conversions, historical properties, and LIHTC multifamily assets. Known for his strategic focus on curb appeal, amenity enhancements, and community uplift, Jay consistently delivers strong returns while fostering long-term relationships with both sellers and buyers. Here's some of the topics we covered: How Jay Landed His Very First Multifamily Properties What You Must Know Before Buying Your Next Property The Multifamily Buy-and-Sell Strategy That Builds Real Wealth The Best Time to Buy Multifamily And Why Most People Miss It Can You Really Balance Family, Life, and Multifamily Investing? Inside the Multifamily Shark Tank Deals, Drama, and Lessons Creative Capital Raising Hacks Most Investors Don't Know About To find out more about partnering or investing in a multifamily deal: Text Partner to 72345 or email Partner@RodKhleif.com For more about Rod and his real estate investing journey go to www.rodkhleif.com Please Review and Subscribe
On this episode of Next Level CRE, Matt Faircloth interviews Lon Welsh, founder of Ironton Capital and seasoned real estate investor managing over $80 million in other people's money. Lon shares how his journey began with house hacking and fix-and-flips before scaling into brokerage, syndication, and ultimately launching multiple real estate funds. They dive deep into market segmentation, the risk-reward spectrum of different neighborhoods, and why investor matchmaking is key. Lon also unpacks the future of office space, opportunities in low-income housing tax credit (LIHTC) conversions, and the rising potential of extended stay hospitality and new multifamily construction. Lon Welsh Founder Based in: Denver, Colorado Say hi to them at irontoncapital.com/ www.facebook.com/irontoncapital www.linkedin.com/company/ironton-capital/ vikingcapllc.com Join the Best Ever Community The Best Ever Community is live and growing - and we want serious commercial real estate investors like you inside. It's free to join, but you must apply and meet the criteria. Connect with top operators, LPs, GPs, and more, get real insights, and be part of a curated network built to help you grow. Apply now at www.bestevercommunity.com Learn more about your ad choices. Visit megaphone.fm/adchoices