ANALYTICS & MANAGEMENT OF MIXED INCOME PROPERTY
|
|
- Rosalyn Bishop
- 5 years ago
- Views:
Transcription
1 MIXED INCOME PROPERTY CFO FORUM NEIGHBORWORKS AMERICA TRAINING INSTITUTE KANSAS CITY, MISSOURI Presented by Len Tatem (Tatem Consulting LLC) & John Kelley (CNAHS/HRI Cambridge, MA)
2 DEFINING MIXED-INCOME Properties with numerous tiers or targets of Area Medium Income (AMI) (30%, 40%, 60%) Properties with targets expanded to units at 80% of AMI Properties with targets expanded to market rate units. Properties that are naturally affordable or unrestricted. Tatem Consulting LLC - Copyright Pending 2
3 ANALYTICS & MANAGEMENT OF 808 Memorial Drive Auburn Court Tatem Consulting LLC - Copyright Pending 3
4 MIXED- INCOME PROPERTY Water Garden Park Washington Terrace Tatem Consulting LLC - Copyright Pending 4
5 THE CHALLENGES 1. Rent Setting 2. Rent Stream over time 3. Operational differences when competing with the market 4. Customer Service Continuity Tatem Consulting LLC - Copyright Pending 5
6 Tatem Consulting LLC - Copyright Pending 6
7 THE CHALLENGES (continued) 5. Cost Containment 6. Investor Relations 7. Debt Management 8. Impact of decisions on balance sheet and cash Tatem Consulting LLC - Copyright Pending 7
8 RENT SETTING Benchmark against the market place Monitoring both affordable and market rents Understanding the value of amenities Understanding the value of location Regulatory Approvals Concessions Tatem Consulting LLC - Copyright Pending 8
9 Tatem Consulting LLC - Copyright Pending 9
10 Tatem Consulting LLC - Copyright Pending 10
11 ANALYZING THE RESULTS of RENT SETTING Per unit Per square foot Per bedroom size Tatem Consulting LLC - Copyright Pending 11
12 Tatem Consulting LLC - Copyright Pending 12
13 Tatem Consulting LLC - Copyright Pending 13
14 RENT STREAM OVER TIME Tracking of rents to the underwriting Expansion/contraction of rent level based on subsidy or market Ability to refinance Ability to generate cash Tatem Consulting LLC - Copyright Pending 14
15 HOW DO OPERATIONS DIFFER WHEN YOU ARE COMPETING DIRECTLY WITH THE MARKET? Affordable Targeting Only Mixed Income Market rate/naturally Affordable Tatem Consulting LLC - Copyright Pending 15
16 COST CONTAINMENT Capital investment to reduce operating costs Improvements with paybacks to reduce energy usage Reducing real estate taxes, insurance and other non-controllable items Tatem Consulting LLC - Copyright Pending 16
17 Magazine Williams Solar Panels Tatem Consulting LLC - Copyright Pending 17
18 CUSTOMER SERVICE Stable Staffing and Its Importance Good Old-Fashioned Customer Service Methods for retaining staff Housing Wage Competitive Compensation Recognition Rewards Tatem Consulting LLC - Copyright Pending 18
19 ANALYTICS & MANAGEMENT OF Tatem Consulting LLC - Copyright Pending 19
20 INVESTOR RELATIONS How does this differ for each property type? What is appropriate to provide? Wait or be proactive about information? Tatem Consulting LLC - Copyright Pending 20
21 FINANCING Short-term financing Long-term financing Appropriate time for both Financial statement impacts Tatem Consulting LLC - Copyright Pending 21
22 KEY FINANCIAL STATEMENTS 1. Pro forma Budgets 2. Annual Operating Budgets 3. Profit and Loss Statement or Statement of Operations 4. Balance Sheet 5. Income Statement 6. Annual Audit Tatem Consulting LLC - Copyright Pending 22
23 PRO FORMA BUDGETS 1. Development pro forma (fees and costs) 2. Operating Pro forma Trending Assumptions for Revenues and Expenses Net Operating Income Debt Service Coverage Capital Expenses Cash Flow This is often the source for asset management fees Tatem Consulting LLC - Copyright Pending 23
24 ANNUAL BUDGET 1. Road Map for the Coming Year 2. Preparation and Approval Schedule 3. Review last two years audits 4. Review operating pro forma 5. Maximize revenues (rent increases, vacancies, and turnover control) 6. Minimize Expenses (where is the controllable impact?) 7. Market knowledge and benchmarks Tatem Consulting LLC - Copyright Pending 24
25 INFORMATION AVAILABLE IN STATEMENT OF OPERATIONS Debt Service Coverage (DSCR) net operating income/debt service (Note: many lenders/investors include the replacement reserve contribution in the equation) Change Over Time (Vacancies) = Amount this period/amount Last Period Cash Flow: Calculation often defined in partnership or other closing documents Tatem Consulting LLC - Copyright Pending 25
26 BALANCE SHEET RATIOS Working Capital (monies available) = Current Assets Minus Current Liabilities Current Ratio (ability to pay debt) = Current Assets Divided By Current Liabilities Net Worth (Owner s Equity) Total Assets Divided by Total Liabilities Tatem Consulting LLC - Copyright Pending 26
27 OTHER BALANCE SHEET INDICATORS Will cash cover accounts payable? Calculate accounts payable as percentage of monthly rent. Are reserves adequate? Tatem Consulting LLC - Copyright Pending 27
28 LIHTC SPECIFIC CALCULATIONS Forecasting capital accounts Basis (with a focus on excess basis) Tatem Consulting LLC - Copyright Pending 28
Analysis of a Troubled Deal. Keith Broadnax Joshua Ghena David Helm Josh White
Analysis of a Troubled Deal Keith Broadnax Joshua Ghena David Helm Josh White Identifying a Troubled Deal How to Spot and Fix Problem Deals Introduction to Presenters Josh Ghena- Lansing MI Director Special
More information$450,000 $63,425 $39, % PURCHASE PRICE NET OPERATING INCOME ANNUAL CASH FLOW CAP RATE
Executive Summary Key Property Metrics $450,000 $63,425 $39,143 14.1% PURCHASE PRICE NET OPERATING INCOME ANNUAL CASH FLOW CAP RATE $70,000 $60,000 $50,000 $40,000 $30,000 Annual Cash Flow Repairs, 8%
More informationShawnee Landing TIF Project. City of Shawnee, Kansas. Need For Assistance Analysis
Shawnee Landing TIF Project City of Shawnee, Kansas Need For Assistance Analysis December 17, 2014 Table of Contents 1 EXECUTIVE SUMMARY... 1 2 PURPOSE... 2 3 THE PROJECT... 3 4 ASSISTANCE REQUEST... 7
More informationTenant: Law Firm 4 NAICS: Primary Industry: Offices of lawyers
Tenant: Law Firm 4 NAICS: 541110 Primary Industry: Offices of lawyers Date: 05.25.17 Table of Contents Law Firm 4 132 Main Street TABLE OF CONTENTS TIL Score Executive Summary Tenant Score Information
More informationMASS HOUSING PRO FORMA LINE ITEM EXPLANATIONS 132 Unit Project. The Residences at West Union
MASS HOUSING PRO FORMA LINE ITEM EXPLANATIONS 132 Unit Project The Residences at West Union Page 5 Affordable Unit Rates: The affordable unit rental rates listed on page 5 of the pro forma list projected
More informationInvestor Presentation. First Quarter 2015
Investor Presentation First Quarter 2015 1 CAUTIONARY STATEMENTS Today s session and our answers to questions contain statements that constitute forward-looking statements about expected future events
More informationNEW HAMPSHIRE HOUSING FINANCE AUTHORITY AFFORDABLE HOUSING FUND PROGRAM RULES HFA 113
NEW HAMPSHIRE HOUSING FINANCE AUTHORITY AFFORDABLE HOUSING FUND PROGRAM RULES HFA 113 Table of Contents HFA 113 PART ONE: Overview, Purpose, Applicability HFA 113.01 Overview and Purpose HFA 113.02 Applicability
More informationChapter 8. How much would you pay today for... The Income Approach to Appraisal
How much would you pay today for... Chapter 8 One hundred dollars paid with certainty each year for five years, starting one year from now. Why would you pay less than $500 Valuation Using the Income Approach
More informationMANUFACTURED HOME PARK LOAN PROGRAM TERM SHEET
MANUFACTURED HOME PARK LOAN PROGRAM TERM SHEET Description: The Manufactured Home Park Loan Program provides permanent financing for the acquisition of mobile home parks (MHPs) by organizations interested
More informationUNIT INFORMATION (Complete the yellow-shaded areas) Gross monthly rent per. # of baths
Project Name: Project #: UNIT INFORMATION (Complete the yellowshaded areas) Residential Finished Sq. Ft. per unit* Gross monthly rent per Less tenant paid Net monthly rent per # of bedrooms per unit #
More informationCHICAGO LOW-INCOME HOUSING TRUST FUND MAUI Program Guide and Application (Operating Reserve Fund)
CHICAGO LOW-INCOME HOUSING TRUST FUND MAUI Program Guide and Application (Operating Reserve Fund) (Rev 12-31-18) Chicago Low-Income Housing Trust Fund Since 1989, it has been the mission of the Chicago
More informationDemystifying Rental Underwriting. August 15, 2017
Demystifying Rental Underwriting August 15, 2017 Welcome & Introductions Delivered by Steve Lathom, TDA Consulting www.tdainc.org slathom@tdainc.org 517-203-4130 Session Objectives Regulatory issues driving
More informationMassachusetts Housing Investment Corporation Accounting, Audit & Tax Workshop For the Year Ended December 31, 2011
Massachusetts Housing Investment Corporation Accounting, Audit & Tax Workshop For the Year Ended December 31, 2011 Presented By: Marianne Heard, CPA, MST, Tax Director, Kevin P. Martin & Associates, P.C.
More informationTHE ART OF BUSINESS VALUATION
BUSINESS VALUATIONS GROWING THE ART OF BUSINESS VALUATION Douglas A. Michel, CPA/ABV, CVA & Alex E. Kummer, CPA, CVA, Clark Schaefer Hackett THE VALUE OF YOUR BUSINESS Steve Lumley, LGI CFO BUY SELL AGREEMENTS
More informationConstruction. Required Documentation From Owner/Developer
3: 1.1.1 Demonstrated development and management capacity of owner/operator and professional development/ management team throughout all phases of the project (e.g. project vision, site selection, feasibility;
More informationUPTOWN NASHVILLE PRO FORMA TEAM
PRO FORMA FINANCIAL SUMMARY The transformation of the Sulphur Dell District into Uptown Nashville begins with the combination of the owners existing parcels and the immediate acquisition of surrounding
More informationNational Housing Trust Fund. Alissa Ice Missouri Housing Development Commission
National Housing Trust Fund Alissa Ice Missouri Housing Development Commission Purpose The National Housing Trust Fund (HTF) is a new affordable housing production program that will complement existing
More information$450,000 $63,425 $33, % PURCHASE PRICE NET OPERATING INCOME ANNUAL CASH FLOW CAP RATE
Executive Summary Key Property Metrics $450,000 $63,425 $33,431 14.1% PURCHASE PRICE NET OPERATING INCOME ANNUAL CASH FLOW CAP RATE $60,000 $50,000 $40,000 $30,000 Annual Cash Flow Maintenance & Repairs,
More informationChapter 8. How much would you pay today for... The Income Approach to Appraisal
How much would you pay today for... Chapter 8 One hundred dollars paid with certainty each year for five years, starting one year from now. Why would you pay less than $500 Valuation Using the Income Approach
More informationA View Like Never Before
A View Like Never Before Introducing CoStar Multifamily Whether you buy, sell, develop, underwrite or value multifamily properties, or advise industry professionals, you need granular multifamily property
More informationCHICAGO LOW-INCOME HOUSING TRUST FUND MAUI Program Guide and Application (Capital Investment)
2019 MAUI Capital Investment Application CHICAGO LOW-INCOME HOUSING TRUST FUND MAUI Program Guide and Application (Capital Investment) (Rev. 12-31-18) Chicago Low-Income Housing Trust Fund Since 1989,
More informationNYS HOME Local Program Small Rental Development Initiative Pro forma Budget Workbook Instructions
NYS HOME Local Program Small Rental Development Initiative Pro forma Budget Workbook Instructions I. Overview This Excel Workbook consists of 6 worksheets: 1) Project Summary 2) HOME Limits 3) Units &
More informationProperty Report 1434 NW 92. Presented by:
Property Report 1434 NW 92 Presented by: Jeff Straka Berkshire Hathaway-Commercial 16301 N. May Avenue Edmond, OK 73012 Office: Mobile: (405)416-4415 This is a pro forma based upon the information the
More informationPermanent Supportive Housing: An Operating Cost Analysis
Permanent Supportive Housing: An Operating Cost Analysis About Corporation for Supportive Housing (CSH) For 20 years, CSH has been a catalyst for housing connected with services to prevent and end homelessness.
More informationASSET MANAGEMENT PLAN FOR THE TENNESSEE HOUSING DEVELOPMENT AGENCY LOW-INCOME HOUSING TAX CREDIT MULTIFAMILY TCAP AND SECTION 1602 PORTFOLIO
ASSET MANAGEMENT PLAN FOR THE TENNESSEE HOUSING DEVELOPMENT AGENCY LOW-INCOME HOUSING TAX CREDIT MULTIFAMILY TCAP AND SECTION 1602 PORTFOLIO Table of Contents I. Introduction II. Overview III. Reporting
More informationNorth Seattle College RES 217 Session 5. Market Feasibility and Financial Analysis
North Seattle College RES 217 Session 5 Market Feasibility and Financial Analysis Preliminary Analysis Completed Back-of-the-Envelope Analysis (aka, Back-of-the-Napkin) Main advantage to back-of-the envelope
More informationChapter 8. The Income Approach to Appraisal. Two Approaches to Income Valuation. How Does DCF Differ from Direct Cap? Rationale:
The Income Approach to Appraisal Chapter 8 Valuation Using the Income Approach Rationale: Value of a property is the present value of its anticipated income. Often called income capitalization Capitalize:
More informationBenchmarking Your CCRC
Benchmarking Your CCRC Presented by: Moore Stephens Lovelace, P.A. Objectives Provide information on how ratios can provide insight into financial statements Give information about key ratios and what
More informationLow Income Housing Tax Credits 101 (and a little beyond 101) James Lehnhoff, Municipal Advisor
Low Income Housing Tax Credits 101 (and a little beyond 101) James Lehnhoff, Municipal Advisor 9/29/2017 1 Affordable Housing Need What is Affordable? Overview Why do affordable housing projects need financial
More informationPerry Farm Development Co.
(a not-for-profit corporation) Consolidated Financial Report December 31, 2010 Contents Report Letter 1 Consolidated Financial Statements Balance Sheet 2 Statement of Operations 3 Statement of Changes
More informationFinancial Analysis Workshop. Contents are subject to change. For the latest updates visit
Financial Analysis Workshop Page 1 of 11 Why Attend In today s world, finance professionals are challenged with providing management a detailed analysis of the impact of the organization's financial decisions.
More informationRetail Acquisition Example
Property Information Retail Acquisition Example Project Assumptions Acquisition Assumptions Property Name Retail Acquisition Example Project Type Acquisition Location Austin, TX Acquisition Cost $1,800,000
More informationVillage at Parkway Lakes Fourplex Gosling and Kuykendahl Spring, TX 77379
Property Report Village at Parkway Lakes Fourplex Presented by: Fourplex Investment Group RE/Max Equity 295 West Center Street Provo, UT 84601 FIG is not a company, but a marketing platform. All information
More informationTHE APPRAISAL OF REAL ESTATE 3 RD CANADIAN EDITION BUSI 330
THE APPRAISAL OF REAL ESTATE 3 RD CANADIAN EDITION BUSI 330 REVIEW NOTES by CHUCK DUNN CHAPTER 20 Copyright 2010 by the Real Estate Division and Chuck Dunn. All rights reserved CHAPTER 20 - THE INCOME
More informationTopic 4A: Developer Fee Recognition. Issue: Developer Fee Recognition for Unconsolidated Developers. Analysis/Input GAAP
Issue: Developer Fee Recognition for Unconsolidated Developers Analysis/Input GAAP Revenue represents the actual or expected cash inflow from sales of an entity's core products or services. For transactions
More informationMassachusetts Housing Investment Corporation Accounting, Audit & Tax Workshop For the Year Ended December 31, 2014
Massachusetts Housing Investment Corporation Accounting, Audit & Tax Workshop For the Year Ended December 31, 2014 Presented By: Karen Kent, CPA, Partner, Kevin P. Martin & Associates, P.C. Kenneth Lund,
More informationDecember 2014 Brewster Board of Selectmen and Town Administrators Office 2198 Main St Brewster, MA
Identifying and Overcoming Impediments to Successfully Managing Small, Affordable Housing Properties on Lower Cape Cod December 2014 Brewster Board of Selectmen and Town Administrators Office 2198 Main
More informationMEMORANDUM ADDENDUM. Dan Moye, Economic Development Corporation of Kansas City, Missouri
MEMORANDUM ADDENDUM TO: FROM: Dan Moye, Economic Development Corporation of Kansas City, Missouri Fran Lefor Rood, SB Friedman Development Advisors Direct: (312) 424-4253; Email: frood@sbfriedman.com DATE:
More informationUnderstanding the Economics & Financing Structures of Moderately Priced Life Plan Communities
Understanding the Economics & Financing Structures of Moderately Priced Life Plan Communities 2 Today s Presenters Wayne Olson, Executive Vice President, Volunteers of America National Services Steve Kuhns,
More informationHousing 101: Getting Started Development Finance Basics
Housing 101: Getting Started Development Finance Basics 23 rd Annual Statewide Housing Conference February 26, 2014 1 Challenges to Developing Affordable Housing Costs the same to develop whether rents
More informationFour (4) Factors in Investment Definition: Investment
Introductions Your name Where you work Your job responsibilities How long you have been in the industry What you hope to get from this class Chapter 1: Investments Agenda 2 Investments Adding Value to
More informationII. NEBRASKA INVESTMENT FINANCE AUTHORITY (NIFA) LOW INCOME HOUSING TAX CREDIT PROGRAM ALLOCATION PLAN
II. NEBRASKA INVESTMENT FINANCE AUTHORITY (NIFA) LOW INCOME HOUSING TAX CREDIT PROGRAM ALLOCATION PLAN 2004 LOW INCOME HOUSING TAX CREDIT PROGRAM 2004 Allocation Plan Table of Contents Page Available Low
More informationTax Credit Finance Primer. Tim Favaro. Partner Cannon Heyman & Weiss, LLP.
Tax Credit Finance Primer Tim Favaro Partner Cannon Heyman & Weiss, LLP tfavaro@chwattys.com New Markets Tax Credit & Historic Tax Credit 101 New Markets Tax Credit Program: Background Codified in Section
More informationOFFERING MEMORANDUM FOR INVESTORS LOOKING for a LEGITIMATE 10%+ IRR YIELD
OFFERING MEMORANDUM FOR INVESTORS LOOKING for a LEGITIMATE 10%+ IRR YIELD Property has years of 100% occupancy with waiting list Av. length of stay about 7 years, some as long as 16, some 2 nd generation
More informationBridge Financing & Valuation Trends Amid a Changing CRE Landscape ARBOR.COM 800.ARBOR.10
Bridge Financing & Valuation Trends Amid a Changing CRE Landscape ARBOR.COM 800.ARBOR.10 Today s Speakers Gianni Ottaviano Senior Vice President, Structured Finance Production, Arbor Realty Trust, Inc.
More information0,...0 Los Angeles W orld Airports
Date 0,...0 Los Angeles W orld Airports Report to the BOARD OF AIRPORT COMMISSIONERS Meeting Date: owers, Deputy Executive Director May 21, 2013 Reviewed by: Stev CAO Review: Completed Pending. N/A City
More informationMassachusetts Housing Investment Corporation Accounting, Audit & Tax Workshop For the Year Ended December 31, 2016
Massachusetts Housing Investment Corporation Accounting, Audit & Tax Workshop For the Year Ended December 31, 2016 Presented By: Karen Kent, CPA, Partner, Kevin P. Martin & Associates, P.C. Kenneth Lund,
More informationCHAPTER TAX CREDITS AND SUBSIDY LAYERING. The Table of Contents
UNIT 12.0 PRESERVATION CHAPTER 12.10 TAX CREDITS AND SUBSIDY LAYERING The Table of Contents 12.10.1 Purpose.. I-1 12.10.2 Applicability.. I-2 12.10.3 Definitions and Acronyms... I-2 12.10.4 LIHTC s and
More informationProfessional Certification Programs
Professional Certification Programs Participants in NDC training, including staff members of Housing and Economic Development Networks, State and Local Governments, Community Development Banks and Charitable
More informationRequest for Proposals Wake County Affordable Housing Development Program for Tax Credit Developments
2015 Request for Proposals Wake County Affordable Housing Development Program for Tax Credit Developments 1) STATEMENT OF PURPOSE AND PROGRAM SUMMARY Wake County s Department of Housing and Community Revitalization
More informationDraft Roosevelt Income Restricted Housing Analysis
APPENDIX F Draft Roosevelt Income Restricted Housing Analysis Prepared for: Presented by: Sound Transit May 5, 2016 C/o Jeff Lehman, KPFF 1601 5th Avenue, Suite1600 Seattle, WA 98101 (206) 622 5822 Jeff.Lehman@kpff.com
More informationAmerica s Parking REIT
* America s Parking REIT November 2017 1 *Name change assuming the closing of the merger between MVP REIT, Inc. and MVP REIT II, Inc. Disclaimers Cautionary Note on Forward-looking Statements This presentation
More informationHOW TO MAKE THE RIGHT LEASING DECISIONS
HOW TO MAKE THE RIGHT LEASING DECISIONS 9480A HOW TO MAKE THE RIGHT LEASING DECISIONS RICHARD W. LOTT CONTENTS ABOUT THIS COURSE ix HOW TO TAKE THIS COURSE xi 1 LEASING: HISTORY AND TRENDS 1 LESSORS
More informationBasics of Commercial Real Estate Transactions Day Two
Basics of Commercial Real Estate Transactions Day Two John Rockwell, Partner Energy October 12, 2016 PG&E refers to the Pacific Gas and Electric Company, a subsidiary of PG&E Corporation. 2010 Pacific
More informationCALIFORNIA TAX CREDIT ALLOCATION COMMITTEE Project Staff Report 2012 First Round July 11, 2012 $443,552 $443,552 $1,774,207
CALIFORNIA TAX CREDIT ALLOCATION COMMITTEE Project Staff Report First Round July, Project Number Project Name Site Address: Census Tract: CA--0 Jack Capon Villa Lincoln Avenue Alameda, CA 940 480.000 County:
More informationMaterial Prepared by The Compass Group, LLC
MFI Bin Values and Calculations Gross Potential Income (GPI): Gross Potential Rent + Other Income Income Loss Income Loss: Vacancy Loss + Collection Loss + Loss to Lease Collection Rate (CR): Amount Collected
More informationThe result of your calculations is the Net Operating Income, or monthly cash flow BEFORE any mortgage payments.
CHEAT SHEET #6 NET OPERATING INCOME (IS YOUR RENTAL REALLY MAKING MONEY?) The Net Operating Income calculation is fairly straightforward. al income minus the expenses to own and operate the property equals
More informationNSP Rental Basics: A Primer on Using Rental Projects to Meet NSP Obligation and 25% Set-Aside Requirement. About this Tool
NSP Rental Basics: A Primer on Using Rental Projects to Meet NSP Obligation and 25% Set-Aside Requirement About this Tool Description: This tool is intended for NSP grantees and their partners seeking
More informationDSHA Underwriting Guidelines
DSHA Underwriting Guidelines NOTE: All applicants must utilize DSHA s LIHTC Application Part II - Pro Forma. No addition of tabs, changes to formulas, or manipulations of any kind are allowed. Any deviations
More informationBay Area Charter Foundation, LLC (Florida) Revenue Bonds, Series 2011
Bay Area Charter Foundation, LLC (Florida) Revenue Bonds, Series 2011 Review of Financial Results for the Six Months Ended December 31, 2012 February 20, 2013 12:00 PM EDT Contained herein is certain financial
More informationValbridge Valuation Advisory
Valbridge Valuation Advisory Re: Attn: Multi-Family Property Taxes Lenders and Purchasers Cash is king, and property taxes can kill the cash flow of a multi-family property. What does that mean to you?
More informationDISABILITY HOUSING NETWORK LOW INCOME HOUSING TAX CREDIT DEVELOPMENT
DISABILITY HOUSING NETWORK LOW INCOME HOUSING TAX CREDIT DEVELOPMENT OCTOBER 24, 2012 OHIO CAPITAL CORPORATION FOR HOUSING OCCH s mission is: to cause the construction, rehabilitation, and preservation
More informationCap Rate Trends, Methodology and Analysis. Dane R. Anderson MAI, CCIM Appraisal & Litigation Services Director
Cap Rate Trends, Methodology and Analysis Dane R. Anderson MAI, CCIM Appraisal & Litigation Services Director 1 Quickly The Income Approach Basis of the Approach Present worth of future benefits Two Methods:
More informationBUSI 330 Suggested Answers to Review and Discussion Questions: Lesson 10
BUSI 330 Suggested Answers to Review and Discussion Questions: Lesson 10 1. The client should give you a copy of their income and expense statements for the last 3 years showing their rental income by
More informationEXHIBIT E LOW INCOME HOUSING TAX CREDIT APPLICATION REQUIREMENTS
EXHIBIT E LOW INCOME HOUSING TAX CREDIT APPLICATION REQUIREMENTS A. Application for Tax Credit Reservation or Tax-Exempt Bond Conditional Commitment shall Include: 1. Complete application form (current
More informationHUD Section 8 Financing Financing Solution for HUD Section 8 Properties
HUD Section 8 Financing Financing Solution for HUD Section 8 Properties With flexibility and certainty of execution, we provide financing for multifamily properties supported by the U.S. Department of
More informationPublic Housing Assessment System (PHAS) Reform Discussion
Section Eight Public Housing Assessment Systems: Public Housing Assessment System (PHAS) Reform Discussion U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT September 2016 Rationale For Change Address Interim
More informationBroker. Basic Business Appraisal. Chapter 9. Copyright Gold Coast Schools 1
Broker Chapter 9 Basic Business Appraisal 1 Learning Objectives Describe the characteristics of the legal entities a business appraiser may encounter List at least 5 reasons for a business appraisal List
More informationHousing Consortium of Everett and Snohomish County 2013 Affordable Housing 101. Paul Purcell President, Beacon Development Group
Housing Consortium of Everett and Snohomish County 2013 Affordable Housing 101 Paul Purcell President, Beacon Development Group Session Outline 1. What is affordable housing? How is it defined? Who does
More informationFor General Information Only Peter M. Amari, President Parkmont Capital, LLC Established in 2005
PARKMONT IMPACT INVESTMENTS PARTNERSHIP. Residential & Commercial Real Estate Assets Urban Neighborhoods & Town Redevelopment Centers New York Tri-State Region For General Information Only Peter M. Amari,
More informationPreface Table of Contents Chapter 1: Overview of the Liquor Store Industry... 13
Preface.................................................................... 3 Who Should Read This Book 3 Organization and Content 4 Chapter 4: Liquor Store Business Valuation 4 Acknowledgments 5 Contacting
More informationRolling Out RAD Webinar Q&A
Rolling Out RAD Webinar Q&A Hosted by Ballard Spahr LLP on March 14, 2012 Q What are PEL and UEL? A The PEL is the Project Expense Level and the UEL is the Utility Expense Level. These, along with add-ons,
More informationWAYNE STATE UNIVERSITY. Housing Facilities Master Plan
WAYNE STATE UNIVERSITY Housing Facilities Master Plan 2016-2026 January 29, 2016 1 Briefly review significant milestones and trends in housing facilities, occupancy, housing system finances, and programming
More informationManaging a Section 8, Section 236, PRAC/LIHTC Project
Managing a Section 8, Section 236, PRAC/LIHTC Project www.lizbramletconsulting.com www.lbctrainingcenter.com www.lizbramlet.wordpress.com HUD-Assisted Projects and LIHTC Across the country, owners are
More informationOWNERS AND DEVELOPERS
Suite TM OWNERS AND DEVELOPERS Move Your Business Forward ALL THE TOOLS YOU NEED TO MAXIMIZE THE PERFORMANCE OF YOUR PORTFOLIO As an owner or developer, you hold the keys to a $1.5 trillion industry. It
More information4 Unit Investment Property 329 N 2nd St W Missoula, MT 59802
Property Report 4 Unit Investment Property Presented by: Ink Realty Group 148 South Ave W Missoula, MT 59801 Office: 406-728-8270 Mobile: Fax: 406-728-2315 All data is from sources deemed reliable but
More informationPROJECT FINANCE & APPRAISAL Translating the Value of Regenerative Design into Real Estate Speak. Matt Macko Environmental Building Strategies
PROJECT FINANCE & APPRAISAL Translating the Value of Regenerative Design into Real Estate Speak Matt Macko Environmental Building Strategies The Developer Role Understand your client! How a developer thinks
More informationU.S. Department of Housing and Urban Development Community Planning and Development
U.S. Department of Housing and Urban Development Community Planning and Development Special Attention of: Notice: CPD 98-1 All Secretary's Representatives All State/Area Coordinators Issued: January 22,
More informationGateway NACM Credit Conference Presented by: Curtis Litchfield, CCE September 20, 2018
Gateway NACM Credit Conference Presented by: Curtis Litchfield, CCE September 20, 2018 Who Receives and Analyzes Financial Statements? Why do you request them? What information are you trying to determine?
More informationPreface Who Should Read This Book 3 Organization and Content 4 Acknowledgments 5 Contacting the Author 5 About the Author 6
Preface.................................................................... 3 Who Should Read This Book 3 Organization and Content 4 Acknowledgments 5 Contacting the Author 5 About the Author 6...........................................................
More informationCHOICE PROPERTIES REAL ESTATE INVESTMENT TRUST. Management s Discussion and Analysis of Financial Condition and Results of Operations
CHOICE PROPERTIES REAL ESTATE INVESTMENT TRUST Management s Discussion and Analysis of Financial Condition and Results of Operations (in thousands of Canadian dollars except where otherwise indicated)
More informationRENTAL DEVELOPMENT PROJECT MONITORING GUIDE
DHCD HOME, HIF, HSF, CIPF, CATNHP/TOD, CBH, AHT PROGRAMS RENTAL DEVELOPMENT PROJECT MONITORING GUIDE Reviewer: Date: I PROJECT INFORMATION Project Name: Property Location: Owner: Contact info: Email address:
More informationCertificate in Financial Management
Certificate in Financial Page 1 of 11 Why Attend Most strategic and operational business decisions rely on a fundamental knowledge of financial management. Speaking and understanding the language of finance
More informationReal Estate Appraisal
Market Value Chapter 17 Real Estate Appraisal This presentation includes materials from Ling and Archer, 4 th edition, Real Estate Principles The highest price a property will bring if: Payment is made
More informationRisk Management Insights
Risk Management Insights Appraisal Review Part II: Income Capitalization Approach George Mann, Managing Director and Chief Appraiser, Collateral Evaluation Services, Inc.and Nikki Griffith, MAI, CCIM,
More informationISC: UNRESTRICTED AC Attachment. Attainable Homes Acquisition and Development Cycle Audit
Attainable Homes Acquisition and Development Cycle Audit April 6, 2016 THIS PAGE LEFT INTENTIONALLY BLANK ISC: UNRESTRICTED Table of Contents Executive Summary... 5 1.0 Background... 6 2.0 Audit Objectives,
More informationChapter 18. Investors have different required yields Different risk assessment Different opportunity cost of equity
Decision Making in Real Estate Centers Around Valuation Chapter 18 Investment Decisions: Ratios We examined the concept of market value in Chapters 7 & 8 As noted, professional RE appraisers are often
More informationU.S. Housing Act of 1937
SERC/NAHRO Conference Norfolk, Virginia June 25, 2018 U.S. Housing Act of 1937 Another New Deal initiative designed to relieve conditions in the nation's housing stock This was the beginning of Public
More informationCHICAGO LOW-INCOME HOUSING TRUST FUND MAUI Program Guide and Application (Capital Investment)
CHICAGO LOW-INCOME HOUSING TRUST FUND MAUI Program Guide and Application (Capital Investment) Chicago Low-Income Housing Trust Fund Since 1989, it has been the mission of the Chicago Low-Income Housing
More informationBroker. Investment Real Estate. Chapter 15. Copyright Gold Coast Schools 1
Broker Chapter 15 Investment Real Estate Copyright Gold Coast Schools 1 Learning Objectives Matching an investor with the right property Evaluating the sites and improvements of income properties Determining
More information2019 9% Competitive Housing Credit Application
2019 9% Competitive Housing Credit Application Application Checklist This checklist includes all the items from the CFA application and the LIHTC Addendum that are required for the 2019 9% Application
More informationCITY OF TACOMA HOUSING & COMMUNITY DEVELOPMENT 2012 APPLICATION SUPPLEMENTAL FORM
CITY OF TACOMA HOUSING & COMMUNITY DEVELOPMENT 2012 APPLICATION SUPPLEMENTAL FORM I. DEVELOPMENT PROJECT INFORMATION (Acquisition, New Construction or Rehabilitation only) A. Permanent Capital Funding
More informationRate Case Dismissal & Asset Exchange July 24, 2017
Rate Case Dismissal & Asset Exchange July 24, 2017 Safe Harbor Forward Looking Statements This presentation contains forward-looking statements about the business, financial performance, contracts, leases
More informationFOOTHILLS HOMEOWNERS ASSOCIATION FINANCIAL STATEMENTS BALANCE SHEET
FOOTHILLS HOMEOWNERS ASSOCIATION FINANCIAL STATEMENTS BALANCE SHEET Years Ended December 31, ASSETS 2016 Current Assets Cash & Cash Equivalents Checking 532.07 Certificates of Deposit 43942.01 Savings
More informationGuidelines for compiling the multi-year Financial-Business Plan (FBP hereafter; in Italian PEF Piano Economico Finanziario
Guidelines for compiling the multi-year Financial-Business Plan (FBP hereafter; in Italian PEF Piano Economico Finanziario) in accordance with the schedule in Attached VIII of the call for bids. The FBP,
More informationMidstate Office Park
For more information contact: Managing Director ejordan@northeastpcg.com Drew Kirkland Licensed Associate (857) 990-6802 dkirkland@northeastpcg.com Francis Saenz Investment Associate (857) 990-6803 fsaenz@northeastpcg.com
More informationRiver Trace Apartments (fka River Trace Senior Apartments) MMRB 2000 Series V / 4% HC C
Page 1 of 10 To: From: Brantley Henderson Florida Housing Finance Corporation Thais Pepe, Senior Credit Underwriter First Housing Development Corporation Date: Subject: River Trace Apartments (fka River
More informationAssessing Financial Condition
Assessing Financial Condition Glenn Barnes Environmental Finance Center The University of North Carolina at Chapel Hill 919-962-2789 glennbarnes@sog.unc.edu Session Objectives Understanding where your
More informationREPORT TO THE HOUSING AUTHORITY
REPORT TO THE HOUSING AUTHORITY DATE ISSUED: October 12, 2012 REPORT NO: HAR12-043 ATTENTION: SUBJECT: Chair and Members of the Housing Authority of the City of San Diego For the Agenda of November 27,
More informationThe rental levels will be based upon contract rent for the leases in place and is provided below:
PROJECT 1: TWIN PINES FINANCIAL DATA Leases The potential income relates to rentals being obtained from tenants occupying space in the project. A current rent roll was provided, and it is assumed that
More information