LIHTC Underwriting & Asset Management Intern

Description LIHTC Underwriting & Asset Management Intern Affordable Housing | Real Estate Finance | Portfolio Management

Position Summary: Advantage Capital is seeking a detail-oriented, analytically strong intern to support its affordable housing business. The intern will work with the team responsible for evaluating LIHTC investments and monitoring a portfolio of affordable housing properties through construction, lease-up, stabilization, and ongoing operations.

This position offers hands-on experience in affordable housing finance, real estate underwriting, financial analysis, portfolio monitoring, and LIHTC compliance.

Core Responsibilities

• Assist with underwriting and review of affordable housing transactions, including development budgets, sources and uses, operating pro formas, rent rolls, market studies, and third-party reports.
• Support review of financial statements, operating results, construction draws, quarterly reports, and annual property budgets.
• Compare actual property performance with underwriting assumptions, approved budgets, and prior-period results; identify meaningful trends and variances.
• Assist in monitoring occupancy, rental income, operating expenses, debt-service coverage, reserve balances, liquidity, and other key performance indicators.
• Support asset managers in preparing construction, lease-up, and stabilized-portfolio reports for internal stakeholders.
• Research LIHTC, Section 8, HOME, state housing-credit, and other affordable-housing program requirements as needed.
• Participate in internal meetings and, as appropriate, calls with developers, property managers, lenders, attorneys, and other transaction partners.

Qualifications

• Current undergraduate or graduate student pursuing a degree in finance, accounting, real estate, or a related field.
• Strong interest in affordable housing, real estate finance, asset management, or community development.
• Strong Excel skills and comfort working with formulas, financial data, and large spreadsheets.
• Strong analytical, organizational, and problem-solving abilities, with exceptional attention to detail.
• Clear, professional written and verbal communication skills and the ability to manage multiple assignments and deadlines.
• Proficiency in Microsoft Excel, Word, and PowerPoint.
• Prior coursework or experience in accounting, finance, real estate, or data analysis is preferred.
• Familiarity with LIHTC, multifamily operations, affordable housing, or financial modeling is helpful but not required.

What The Intern Will Learn

• How LIHTC transactions are underwritten and monitored from closing through stabilization.
• How to evaluate operating performance and recognize early financial or operational risks.
• How LIHTC, rental assistance, debt, reserves, and operating expenses affect affordable-housing performance.
• How asset managers work with developers, property managers, lenders, and investors to protect investments and support long-term property viability.
• How to prepare clear, decision-useful portfolio reporting.