Transcript Jennifer Rodriguez

Ensuring Long-Term Success
-Presenter
Jennifer G. Rodriguez
“Okay we got the financing…now make the deal work.”
• Need for AH
• Available
Resources
• Initial Feasibility
Initial Phase
2nd Phase
• Secure Financing
• Acquisition
Rehab/Develop
ment process
starts
• Qualify
Households
• Close Financing
• Manage Funding
Requirements
3rd Phase

Lack of Due Diligence



Regulations
Rents
Lack of preliminary
communication between
Front-end and Back-end
Development Team
© 2009-2012 Eclipse Digital Imaging, Inc.
TIP: Appoint a main point of contact between
development team members

Initial Resident Eligibility





File Audits
State differences
Program differences
UPCS Inspections
Requires Reserve Accounts
Deferred Maintenance
 Lender Requirements


Strong Back-end Development
Teams
Include (but not limited to) board
members (managing GPs),
management agents, & supportive
service providers
 Experienced (Lender may have
specific loan requirements regarding
Managing Agents)
 Open communication (Pre & Post
Development)
 Strong commitment to Development



Copyright 2004 © Mark Jeantheau
Network with “Affordable
Housing” Experts
Use Regulations to your
Benefit
“You may never know what results come of your action,
but if you do nothing there will be no result.”
Mahatma Gandhi
© 2009 Barry Overstreet
Springridge Apartments is
located in South Dallas, Texas
and was built in 1964.
Renovated in 1993; 196 units.

Pre – Acquisition Rehab
25% delinquency
 High crime
 Numerous complaints
about drug activity


Post – Rehab
Zero delinquency
 Huge reduction in crime
 No complaints about drug
activity



Property divided by
main street; undesired
activities
Surrounded by two
partially demolished
communities (drugs,
prostitution, vagrants,
etc.)
Gulfstream Apartments is located
in Dania Beach, Florida and was
built in 1960. Renovated in 2000;
96 units.

Pre – Acquisition Rehab
 Severely distressed
 High crime
 Surrounding
neighborhood suffered
from years of decline
 The property was a major
negative factor in the
neighborhood


A total renovation,
including all major
mechanical systems,
roofs, windows and
interior finishes
The transformation of
Gulfstream has helped
to stabilize the
neighborhood,
providing a catalyst for
other redevelopment.
Project A
Project B
"Failure to Launch." Cartoon. Presenter Media. Eclipse Digital Imaging, Inc. Web. 11 Apr. 2012.
<http://www.presentermedia.com/index.php?target=closeup&maincat=clipart&id=6282>.
Gulfstream Apartments. Digital image. Reliance Housing Foundation. Integritive. Web. 16 Apr. 2012.
<http://reliancehousing.org/pages/developments/gulfstream-apartments-dania-beach-fl.php>.
How to Be Successful. Digital image. Barry Overstreet. MLM Blog Theme, 2009. Web. 16 Apr. 2012.
<http://barry-overstreet.com/do-you-know-how-to-be-successful/>.
Nowicki, Terrence. The Hand-Off. Digital image. This Is Historic Times. Wordpress, 19 Sept. 2011. Web.
16 Apr. 2012. <http://thisishistorictimes.com/2011/09/the-hand-off/>.
Springridge Apartments. Digital image. Hotpads.com. HotPads, Inc. Web. 16 Apr. 2012.
<http://hotpads.com/apartments/3604-Legendary-Lane-Dallas-TX-75224-31wabg4p1upa#lat=32.69974&lon=96.84066&zoom=20&previewId=31wabg4p1upa&previewType=listing&detailsOpen=true&listingTyp
es=rental,sublet,room,corporate&loan=30,0.04,0&resultsPerQuad=24>.
Summer Olympics Cartoon. Digital image. Grinning Planet. Grinning Planet, 2004. Web. 18 Apr. 2012.
<http://www.grinningplanet.com/2004/08-17/olympics-cartoon-criminal-joke.htm>.