Raise Capital Legally
Ready to invest in properties and projects bigger than you can manage alone? Then you're ready to syndicate. Our "Raise Capital Legally" host and Corporate Securities Attorney Kim Lisa Taylor, and co-host Krisha Young guides you through this complex and confusing world. Learn how to raise all the capital you need for real estate or small business and avoid legal potholes.
Each episode either teaches a subject related to capital raising or interviews service providers who offer services investors need as they grow their businesses. At the end of each show, Kim and her guests take live questions from the audience.
Kim is not just an attorney, she's also an investor. She has owned or controlled 30 rental properties; has been a general partner in a land development project; and currently owns vacation rentals. She is also the author of two Amazon best sellers on how to raise capital legally. Kim and her team have helped hundreds of clients raise ~$4B.
Information discussed during this podcast is of a general, educational nature and should not be construed as a legal advice.
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Raise Capital Legally
Cracking the Code on Tax Credit Housing: What Syndicators Need to Know to Compete Nationwide
Kim Lisa Taylor and Krisha Young of Syndication Attorneys PLLC welcome Homero Cabello Jr., the Deputy Executive Director at the Texas Department of Housing and Community Affairs. Homero shares insights from his decades of experience managing affordable housing programs and tax credit compliance that can be applied to projects nationwide. We'll discuss what it takes to qualify for Low-Income Housing Tax Credits (LIHTC), what entity structures their deals need to qualify, and how LIHTC programs benefit syndicators, investors and low income tenants. This knowledge is perfect for sponsors looking to enter or scale in affordable housing, or looking to maximize cash flow and tax benefits for their existing and future deals.
Chapters
Introduction to LIHTC Programs and Types (00:04:40)
Omero Cabello Jr. explained the two types of LIHTC programs: 9% program funding 70% of development costs, and 4% program with tax-exempt bonds funding about 80% of total development costs. He emphasized that each state must follow a qualified allocation plan dictating requirements and rules.
Property Qualification and Requirements (00:07:28)
Omero detailed that properties must maintain affordability for a minimum 30-year period. The program funds new construction, acquisition rehab, senior housing, and supportive housing for special needs populations. He emphasized their preference for mixed-income developments.
Application Process and Common Challenges (00:08:18)
Omero outlined that applications can be denied due to failure to meet threshold requirements, incomplete financial projections, and lack of local support. He emphasized the importance of securing resolutions from local government entities and state representatives.
Sponsor Requirements and Team Composition (00:11:07)
Omero detailed that sponsors must demonstrate experience, financial stability, and knowledge of compliance requirements. He highlighted the value of partnering with nonprofits or historically underutilized businesses.
Compliance and Property Management (00:16:19)
Omero stressed the importance of partnering with experienced property management companies that understand LIHTC programs and tenant qualification requirements. He mentioned Texas's robust compliance monitoring team overseeing 350,000 doors across 3,000 properties.
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