All Forum Posts by: Jeff Flaherty

I really appreciate the warm welcome from everyone!

@Denny Troncoso I'm not on the acquisition side so I'm afraid I'm not much of a help there. I do know that our focus is going to remain in Arizona for the time being. At some point we might begin to look at properties back up in Canada where the company started but that's likely still a ways out.

@Tim Winter Our criteria is typically for 100+ units. The last two acquisitions averaged 264 units so we're trending towards larger properties. Personally, I wouldn't be opposed to looking at opportunities up to a Quad-Plex so if you see anything that you believe presents an opportunity please don't hesitate to let me know.

From my understanding after the 14th year you can apply for the removal of the tax credits. There are several stipulations (in AZ at least) that include listing the property for sale for one year based on a valuation criteria set by the governing body overseeing LIHTC properties. In the event it doesn't sell then I believe they can removed and rents can be adjusted as high as the market will tolerate.

If you're doing a 50/50 split then, if I were him, I'd want to be listed as a member on the LLC. If you're avoiding that for some reason then it would be outlined in the operating agreement. As for establishing the entity, I'm not sure what the process is like in Washington, but here in Arizona it's worth doing yourself. Most attorney's charge $750+ to create the entity from the original filing to notice of publication but the process takes no more than 30 minutes to draft and a total of $120 (on the high side with expedited processing)

Greetings! I recently took a position as Director of Investor Relations for an Arizona based real estate investment firm. The company focuses on under performing and mismanaged properties where there is the opportunity for strategic changes that will ultimately increase NOI and therefore value. My role specifically focuses on managing the relationships of our existing accredited investors, uncovering opportunities for new investors, as well as creating marketing materials, raising capital, and just being a point of contact. My intentions on this site will be to utilize the resources provided to help educate myself further around the world of real estate investing, specifically on larger multifamily complexes.