“If you build it, they will come.” Made famous in the renowned motion picture “Field of Dreams,” this iconic phrase depicts an admirable work ethic that is applicable to life beyond the screen. Field of Dreams, which celebrates its 25th anniversary this year, is certainly an entertaining movie for baseball aficionados, but it also offers a […]
The government’s rules give more leeway to funds and businesses looking to invest in distressed areas nationwide. The government released its long-awaited and latest set of Opportunity Zone regulations Wednesday, hoping to provide investors who have been on the fence with the clarity needed to begin developing projects in distressed areas nationwide. Under the law, […]
Today, the Oregon State House passed SB 608, a bill that creates a new statewide rent control law. The measure now goes to Governor Kate Brown’s desk, where she is likely to sign the bill into law. The liberal legislators in Oregon don’t understand basic economics and this legislation will only exacerbate the situation they […]
Last week, I spent a day sharing my experiences working in Opportunity Zones with more than 400 of my closest friends. Gathered at a conference in Las Vegas organized by the Federal Reserve Bank of San Francisco, the Nevada Governor’s Office of Economic Development and the State Department of Business and Industry, the group was […]
New research from the Urban Land Institute shows that the population of urban neighborhoods in many metropolitan areas is growing as quickly or nearly as quickly as that of suburban neighborhoods, reflecting ongoing consumer demand – particularly among younger households — for living environments that are convenient to jobs, transit, and urban amenities, and which are highly […]
Earlier this month, I was in New York City at the IMN Middle Market Multifamily Conference moderating a panel discussion for property owners who are considering creating their own management firms. As a partner in one of the industry’s larger outsourced accounting firms, I help clients make that decision every day. The discussion included some […]
On Tuesday, February 13th, the U.S. Treasury Department’s Community Development Financial Institutions Fund (CDFI Fund) awarded $3.5 billion in New Markets Tax Credit allocation to 73 community development entities throughout the country. Based on the terms of the awards, it is expected that approximately $2.47 billion of allocation will be deployed to support businesses in […]
Multi-Housing News Discusses Multifamily Trend Years ago, the Harvard Business Review reported that “Outsourcing is not just a trend; it is an integral part of how smart companies do business.” Whether or not outsourcing is a trend, multifamily operations are beginning to adopt outsourcing in a big way. As reported in last month’s Multi-Housing News, […]
I was speaking with the Owner/CEO of the third party management firm who outsourced his back office with Ascent Multifamily in March 2016. At the time that he began outsourcing with us, he had 18 properties and 4,600 units. (Today he has more than 6,000 units.) He called me to tell me that he appreciated […]
I came across this article about investing in multifamily and taxes that I felt I should share. It relate how $20 million of capital can be leveraged to produce $210 million in multifamily assets over 20 years. It would throw off $131 million in cash flow (to the investor) from years 11 through 20. Even […]
