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E573 - CFC - 100k to Invest - Is This The Solution To the Affordable Housing Crises? - Asym Capital

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E573 – CFC – 100k to Invest – Is This The Solution To the Affordable Housing Crises?

Recession or not, America needs more Affordable Housing…

However, when deals are getting harder to pencil out, can affordable deals make sense?

To figure this out, I’m bringing on expert LIHTC Investor and Nashville native, Evan Holladay!

Today, we discuss why affordable housing is so different from every other asset class and the key drivers of Evan’s success.

The problem is that the demand for housing in cities far outpaces the supply.

Since it costs the same to build affordable housing as it does to build luxury class A, developers build the product type that will result in the highest NOI.

The only way to solve this problem in our current economy is for governments to incentivize developers to build affordable housing through various programs, such as Low-Income Tax Credits (LIHTC).

When deciding whether a deal works out, we tend to look at IRR and Cash-on-Cash returns.

However, in affordable housing, a deal works out if there are enough sources of capital to get the deal done because NOI is not what drives success.

LIHTC solves this problem by covering 40-70% of the development costs for developers.

However, that still leaves a significant portion of the capital to be found, which is where Evan’s attention to detail and creative people skills make all the difference!

Tune in to hear how he has put together some of the most prominent projects in Nashville!

Take Control,

Hunter Thompson

Resources mentioned in the episode:

1. Evan Holladay

Website

Podcast

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