Alpha-Barnes Real Estate Services Revenue and Competitors

Alpha-Barnes specializes in the operation of communities utilizing the Low Income Housing Tax Credit Program ("LITHC"). Since 1987 they have invested a great deal of time and energy into developing: Tax credit policies and procedures Comprehensive training programs Forms and handbooks Alpha-Barnes assigns a tax credit specialist to each property to monitor the compliance process. Depending on the property's needs, our specialist can: Train on-site staff in tax credit management, compliance and leasing. Daily review and approve every application, verification and certification before and after an applicant is accepted to insure every unit is in compliance. Keep a full set of compliance documents in our corporate office. Monitor file maintenance and oversee dead file storage. Audit on-site files. In addition, our specialist coordinate the auditing requirements and procedures with the Texas Department of Housing and Community Affairs ("TDHCA"), and monitor annual changes in IRS rulings and case law to be abreast of the newest compliance regulations. In summary, Alpha-Barnes has developed a reputation for solving unique and complicated management issues. Their success with tax credit properties, rehabilitation of existing communities, and development and completion of new construction has attracted clients who demand performance. They know they can depend on the Company's commitment to professionally produce and operate communities which maximize their return on investment. Alpha-Barnes has developed an insurance program offering its participants extensive coverage and considerable savings. In the mid-2001, the property insurance industry began to implement significant changes in coverage and increases in premium. This was due to an adjustment in the low cost of this type of insurance, the first mold claims, major multi-family losses due to flood, storm and fire, the stock markets were plummeting causing the insurance investments to plummet, and then 9/11 occurred, the cost of multi-family insurance went sky high. Alpha-Barnes began the arduous task of pricing insurance and also looking at alternatives. The premiums for the same coverage for the prior year with a $10,000 deductible were about the same as a present year property policy with a $100,000 deductible. Alpha-Barnes Real Estate Services developed a system with the involvement of very savvy insurance providers which saved the participants considerable insurance cost.