Miami Multifamily Spotlight
Miami Multifamily Spotlight
Also, deep dives into both the historic and new market tax credit programs, and a deep dive into common loan documentation every investor should be able to produce with a loan application.
The Multifamily Minute takes a look at the latest news and trends across the multifamily industry, featuring content from Janover’s affiliated sites.
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Understanding The New Markets Tax Credit
As the struggle for more affordable housing rages on, one of the more basic concerns is how to get the necessary units delivered in the right areas. The New Markets Tax Credit serves to solve this by incentivizing investors with a hefty 39% tax credit for their capital injection into designated CDEs with a primary focus on such areas. This guide on the NMTC delves deeper into the program and its benefits to investors and the American population.
The Historic Tax Credit Demystified
Most can agree that the rich history of our country is preserved in the architecture found across the nation. These historic sites are valuable beyond their monetary worth, and preserving them should always be a priority. Investors looking to rehabilitate historic structures might be pleased to know that the historic tax credit program provides a 20% credit against the cost of eligible rehabilitation expenses – meant as a way to ensure the preservation of these historic sites.
A Look at Loan Documentation
Every commercial mortgage program is unique in some way, and every lender has its own slate of borrower requirements and lending criteria. Still, there are basic constants that nearly every loan transaction includes, mostly in the form of the required documentation. Whether you’re a seasoned investor or new to multifamily investment, having the proper documentation prepared and ready to submit with an application can make a world of difference. Our handy guide on Multifamily.Loans provides an extensive list of commonly required documents, with downloadable templates for any who may need them.
Miami Market Movements
The market for Class A luxury assets in Miami is on fire, and investors can’t get enough of the heat. Demand for luxury properties is expected to remain at elevated levels as more and more jobs and workers migrate to the sunny and business-friendly market. More details on the market trends can be found in this market assessment from Multifamily.Today.
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