How To Break Into Affordable Housing as an Emerging Developer: How He Won 9% Low Income Tax Credits

On the Affordable Housing & Real Estate Investing Podcast, the best podcast for affordable housing investments hosted by Kent Fai He, I sit down with Fred Yeakey, an emerging affordable housing developer who successfully broke into affordable housing development industry. Hear how he and his team won the 9% Low Income Housing Tax Credits "LIHTC" set-aside for emerging developers in Indiana from beginning to end!In this episode, Fred explains how identifying a unique housing need was critical to winning a competitive 9% LIHTC set-aside. His team's project focused on supportive housing for women in recovery, paired with nonprofit partners already serving the population. That alignment helped strengthen the application and ultimately made the project more impactful... while scoring more points to win the tax credits!Fred also walks through the realities after winning tax credits. He explains how execution becomes the real challenge. One missing part or permit can stop an entire project. City departments can stall progress. Relationships with municipal staff and even city council can matter when things get stuck. Winning credits is not the finish line. It can be celebrated... while you embrace the beginning of execution risk.This episode is a practical roadmap for anyone who believes affordable housing is only accessible to large, experienced firms. Fred’s story shows that mission, preparation, and partnerships can open doors. I hope you can become inspired after hearing from Fred... that you can STILL make an impact with your time, energy, and resources!Why This Episode MattersAffordable housing development often looks impossible for first time developers. This episode shows what it actually takes to break in.It matters because Fred explains:• How emerging developers can win competitive LIHTC awards• Why identifying a unique housing need matters• How nonprofit partnerships strengthen applications• What really happens after you win tax credits• Why permitting and city processes can stall projects• How relationships reduce execution risk• How imposter syndrome affects developers more than people admitCommon Questions This Episode Answers• How first time developers can still win 9% LIHTC deals?• What qualifies as a unique housing need for LIHTC?• Why nonprofit partnerships matter in LIHTC applications• What mistakes or issues can delay affordable housing development projects• How permitting issues derail timelines• What capital sources help emerging developers• How do developers overcome imposter syndromeIf you have questions or want to connect with Fred, you can reach him via email at: [email protected] DM any questions or content suggestions to Kent Fai He, affordable housing developer, educator, and host of the Affordable Housing & Real Estate Investing Podcast, the best podcast for affordable housing investments in the United States.Disclaimer: This content is for informational and entertainment purposes only. It is not legal, financial, investment, insurance, or tax advice. It is not an offer or solicitation for any investments. Always do your own research before making investment decisions.00:00 Podcast Trailer 02:44 Intro (Getting to Know Fred: His Background and Story) 07:40 How New Developers Can Still Win Low Income Housing Tax Credits?10:14 How to Put a WINNING Project Together To Win Tax Credits for Emerging Developers16:12 What is a RE Developer's Job?28:08 Why are Housing Tax Credits as Good As Gold! (SIMPLE Explanation)35:44 What Does It Take to Win Set-Aside Housing Tax Credits?40:30 How Developers Structure Partnerships To Get Pre-Development Complete w/ Lower Out-of-Pocket Costs!50:19 What Issues Can RE Developers Expect to Face During Construction (Learn from Fred's Experience)52:24 Why One Missing Permit Can Stop an Entire Development Project59:41 Why Is Affordable housing (i.e. lack of supply)  Hard to Solve?01:06:45 How to Contact Fred