Latest / Property Profits Real Estate Podcast
The Business Behind Low Income Housing Tax Credit Properties with Denis Shapiro
A 98 unit property with about $15,000 in annual debt service caught Denis Shapiro’s attention for one simple reason. The debt was backed by a zero percent state loan that his team could assume.
Denis and his partners focus on Low Income Housing Tax Credit properties. Their strategy is to buy properties during the second 15 year affordability period, when the original credits have already phased off but income and rent restrictions remain.
Denis explains why these properties can trade far below replacement cost, why his team likes secondary markets, and why high occupancy can make the model…
The skinny
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