Jason Iacovelli’s Post

Who is this Rorschach guy and why does he paint so many pictures of my parents fighting? Housing affordability: I have an idea...Lets try a 1 yr cancellation of the following fees/tax: At the State Level: State Deed Tax, Mortgage Registration Tax, Conservation Fee, Recording Fees, Building Permits, and Real Estate Tax . Use the MN "surplus" to pay for it. (thousands on an average transaction) At the Federal Level: Cut ALL loan level price adjustments in half for Fannie and Freddie. (thousands on an average transaction) The list is TOO long where we could divert this money from. Pipe dream? yah...but think about it when you hear ANYONE who sets policy to complain about affordability.

During last night's historic presidential debate, housing issues made a brief appearance! President Biden highlighted the need to reduce housing costs, promising to build 2 million new units and cap rents to combat corporate greed. He also mentioned a $10,000 tax credit for first-time homebuyers and a proposal to cut title insurance requirements on some loans. Former President Trump, however, did not address housing in the debate, and it’s not currently listed on his campaign website. What are your thoughts on the housing plans discussed? Do you think these proposals will effectively address the housing crisis? 🏠💬 #PresidentialDebate #RealEstate #HousingCrisis #LPshares #CommercialRealEstate #MarketTrends #RealEstateNews #multifamily #invest #entrepreneurship101 #limitedpartner #generalpartner #businessquotes #realestate #businessadvice #businessminded #businessowners #Trump #Biden

It's no secret that an increasing number of younger people are struggling to enter the housing market. 🏠 As a result, an increasing number of parents and grandparents are stepping in to help children onto the housing ladder. 🪜 There are several ways to do this; gifting, loans and providing security to mortgage providers are all worth consideration, and many of these solutions have the dual advantage of helping with effective estate planning. 🔑 However, you should seek advice when considering which option to take to ensure that this act of generosity does not result in unexpected tax liabilities.

$100 Million Approved for Hometown Heroes Housing Program!! The bill, which was a 2024 Florida Realtors legislative priority, also includes changes to the Live Local Act. Hometown Heroes Housing Program funding begins July 1.. Gov. Ron DeSantis signed a bill revising 2023’s Live Local Act, providing an additional $100 million to the Hometown Heroes Housing Program (HHHP) for zero-interest downpayment and closing cost assistance home loans to fulltime employed Floridians who meet income requirements. The HHHP financial boost injects new funding into a program that was so successful when it launched that funding was depleted in under two months. The new HHHP funding will be available after July 1. The modifications in the bill to last year’s Live Local Act also continue to provide flexibility for local governments to incentivize and expedite affordable housing developments. In general, the new law: Modifies the parking reduction requirements for qualifying developments by requiring local governments to reduce parking requirements by 20% under certain circumstances. Modifies certain provisions pertaining to the zoning and land use preemption for approving affordable multifamily rental developments. Provides that nothing in the act precludes a local government from granting a bonus, variance, conditional use or other special exception for height, density or floor area ratio in addition to the required entitlements. Appropriates $100 million in nonrecurring funds from the General Revenue Fund to the Florida Housing Finance Corporation to implement the Florida Hometown Heroes Program. © 2024 Florida Realtors® #HomeTownHerosHousingProgram #FloridaRealEstate #GloryInterntional

This article from CoStar News highlights something that's happening across the country! Owners are handing the keys of their buildings back to the banks that hold their notes in something call a Deed in Lieu of Foreclosure. While those owners avoid the foreclosure process, they face a substantial tax bill associated with the debt forgiveness, which in the case of this Chicago office tower, is $137 million! What many owners don't realize is that they can actually do a 1031 exchange, using a DST, to replace the debt and avoid the tax consequences of the debt forgiveness. In this example, the owners could have made an investment of roughly $19 million to avoid the tax bill that will be associated with the $137 million of debt forgiveness. Over the next 24 months, as much as $1.5 Trillion of CRE debt is scheduled to mature and unfortunately, Deed in Lieu of foreclosure is going to become a more common occurrence. Drop a comment if you'd like to learn more about how 1031 exchanges and DST's can be leveraged in these situations. #deedinlieuofforeclosure #accounting #realestate #commercialrealestate #1031exchange #dst #debtforgiveness

Lots of talk during the election about making housing more affordable, but not much discussion of housing finance (all the rage a few years back). Might we see additional emphasis on the topic during Trump 2.0? If they pick up where they left off, we could see significant progress on a matter in need of resolution. My latest in Forbes.com.

This is a reasonable remedy for a government bureaucracy that, during a housing crisis, has deviated so far from its original mission of supporting housing. Should current reform initiatives come up short, elimination is in order. More on the FHLB reform and flogging: https://ow.ly/yIIS50Qxs5r

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Turn your home sweet home into a money-saving machine! 🏡💸 Whether you choose a loan or a line of credit, you can use your home's equity to consolidate debt, finance home improvements, or cover major expenses. Lower interest rates and potential tax benefits? That's what we call smart homeownership. Let's put your home to work for you! #PFCU #HomeEquity #SmartHomeownership

Are you looking to finance your next affordable housing development? Get ready to learn from Michael Eaton, J.D., Ph.D., one of the few Tax Exempt Attorneys in the United States, having helped Affordable Housing Developers close on HUNDREDS of LIHTC and HUD projects in his career! In the world of affordable housing development, financing can often be the biggest hurdle. Thankfully, HUD provides several loan programs that help developers build affordable housing, create lasting communities, and address the housing crisis. On the latest episode of "Affordable Housing & Real Estate Investing", we focus on HUD’s most popular loan programs for real estate development: the 221(d), and 223(f) loans. These loan programs are designed to support both new construction and major renovations for affordable housing projects. Join us as we cover: ‣ The ins and outs of HUD financing ‣ Requirements and Qualifications of a HUD Loan ‣ How do nonprofits and for-profit entities collaborate on Affordable Housing ‣ How you can access them to finance your next project From application to approval, we break down everything you need to know to navigate the world of HUD loans. 📌 DISCLAIMER - all information & details shared are meant to be for entertainment purposes only. This is not legal, financial, insurance, tax, or investment advice. This is not a solicitation for any investments and should not be construed as such in any form. All investments have risks. This is not an offer to purchase securities. #HUDLoans #HUD #AffordableHousingDevelopment #RealEstateFinance #HousingConstruction #FHAloans #DevelopmentTips #HUDFunding #AffordableHousing #podcast #MichaelEaton