REO: Real Estate Owned, Real Estate Opportunities How Top-Performing Non-Profit Owners Manage Multifamily Assets for Long-Term Financial Success
When proactively managed across all real estate life cycle phases, multifamily rental housing can be the lifeblood of a non-profit affordable housing organization. Rental housing provides revenue streams from i) property operations, ii) reposition opportunities and iii) developer fees. These diverse revenue sources can grow an organization’s balance sheet and help ensure its long-term success and housing mission. In this 90-minute webcast, Vinnie Viola presents a sample multifamily portfolio with various operational challenges, opportunities and risks to the owner. He illustrates how successful owners maximize a portfolio’s operating cash flow and other revenues sources to the benefit of the developer organization. Vinnie concludes the training with an example of a portfolio asset management plan to help guide an owner’s annual REO goals.
About the Presenter
Vinnie Viola, MPA, HCCP, has more than three decades’ experience in multifamily affordable housing. His areas of expertise include asset management best practices for multifamily properties and compliance with IRS’ Section 42, Low-Income Housing Tax Credit (LIHTC) program. Among other clients, Vinnie consults with NeighborWorks America (NWA) on organizational assessments of NWA’s non-profit charter members; he assesses production and profitability of organizations’ real estate development, asset management and property management lines of business. He also consults with multifamily developers, tax credit syndicators, lenders and operators on i) property and portfolio workouts and repositions, ii) evaluation of REO policies and procedures and iii) implementation of asset management best practices. Vinnie currently serves as Director of Asset Management (part-time) at Madison Park Development Corporation located in Nubian Square, Boston
Vinnie earned a BA in Geography with an urban planning concentration from the University of Massachusetts, Boston, and an MPA from the University of Texas, Dallas. He completed a certificate in real estate finance from Boston University’s Metropolitan College. Vinnie is passionate about helping multifamily stakeholders achieve their real estate goals and objectives and enjoys hosting public and live web-based trainings. In 2013, Vinnie leveraged his successful career in the private sector to launch Birch Island Real Estate Consulting.
Contact Vinnie at Vinnie@birchislandrec.com or 617-905-6340 with any questions about this training or your registration.