Episode Details

In this episode of The Best Ever CRE Show, Joe Cornwell interviews Ira Fishman, owner of North Loop Investments, who manages a portfolio of over 400 units across Illinois, Wisconsin, and South Carolina. Ira shares his 15-year journey in real estate, including his early experience with a challenging 12-unit Section 8 property before the 2008 recession. The conversation focuses heavily on HUD properties and affordable housing, with Ira explaining the differences between traditional Section 8 vouchers and HAP (Housing Assistance Payment) contracts. He reveals that about 55% of his current portfolio consists of HUD properties, driven by his personal mission to help others inspired by his experience raising a son with special needs. Ira and his wife have even developed specialized housing for young adults with disabilities. The discussion explores the challenges of managing aging affordable housing stock from the 1970s, what he calls a "CapEx tsunami," and broader housing market trends. Looking ahead to 2025, Ira predicts more buying opportunities may emerge as sellers become more realistic about pricing and interest rates potentially improve toward year-end.

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