Advanced Financial Tools for Asset Managers

Advanced Financial Tools for Asset Managers is the first of two required courses for earning the Certified Housing Asset Manager designation. It teaches advanced financial analysis topics of interest to affordable housing asset managers. You will master a range of techniques to measure the profitability of multifamily real estate and options for refinancing a property’s debt and dive into LIHTC issues and concepts. 

This course is offered virtually by NeighborWorks America in two parts (AM321VC/AM322VC). Each part includes lively 90-minute sessions over a four-week period. You’ll have the ability to interact with your peers and expert faculty to explore how to apply the knowledge to your organization’s unique situation. A variety of online tools will enhance your learning and facilitate your coursework. Since Part 2 builds on what you learn in Part 1, you must take the virtual classes in order

Prerequisite:  Completion of the Asset Management Specialist (AMS) designation. Proficiency in Excel is required. 

Test: Successful completion of a test at the end of this class is required for the Certified Housing Asset Manager designation.  

How to Enroll: See the Enrollment Fact Sheet on the Certified Housing Asset Manager page for the latest information on how to sign up classes needed to earn the designation.

Advanced Financial Tools Part 1 (AM321VC)

Part 1 covers measures of property profitability and time value of money concepts (including NPV and IRR analysis), debt calculations and debt sizing considerations.  Participants will master a range of techniques to measure the profitability of multifamily real estate. You will learn to evaluate options for refinancing a property’s debt, and calculate debt service payments based on a given set of terms, as well as calculating the maximum debt a property can support.   

Core Competencies that participants will be able to perform:

  • Perform analysis of multifamily property with a range of techniques, including ROI, ROE, NPV and IRR

  • Calculate the financial impact of debt refinancing on a multifamily property

  • Analyze options for debt restructure, and understand the process for implementing the refinance of a property

  • Identify and understand a property’s capital stack

Advanced Financial Tools Part 2 (AM322VC)

Part 2 focuses on LIHTC properties across the asset management life cycle.  Building on profitability analysis skills introduced in Part 1, participants will explore the elements of financial return that investors are seeking in LIHTC properties. The class will deal with elements of troubleshooting during the compliance period (including such challenges as adjusters and the financial impact of noncompliance).  Participants will explore the relationships between the different financing sources in the capital stack, and the implications for managing stakeholders during refinancing and other financial events.  Finally, the class will dive into a range of Year 15 issues.

Core Competencies that participants will be able to perform:

  • Understand the elements of financial return to investors in a LIHTC project

  • Calculate the impact of tax credit adjusters and recapture penalties

  • Evaluate the stakeholder interests of funders, lenders and investors, and manage negotiations with these stakeholders through refinancing and other property life cycle events

  • Evaluate Year 15 options for LIHTC properties, and calculate exit tax liability for sponsors exercising purchase options or first refusal rights.

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