Investing in Affordable Housing

In this episode, Andrea shares her journey into the world of affordable housing and underwriting, bringing a unique perspective to the discussion. Discover the intricacies of property classifications, the transformative power of renovations, and the nuances of affordable housing programs in this insightful conversation with Andrea Garcia on real estate investing.

 

Keynote Summary:

 

1. Affordable Housing Overview: The importance of forming a team with complementary skills to achieve specific investment goals.

2. Background in Real Estate: Andrea shares her journey into real estate, emphasizing her commitment to improving living conditions for low-income individuals. 

3. Property Classifications: The discussion delves into property classifications, from A class to D class, highlighting the significance of renovations in uplifting living standards. 

4. Affordable Housing Nuances : Andrea clarifies the terminology associated with affordable housing, distinguishing between Section 8 HAP contract, voucher-based projects, and tax credit properties. 

5. Rent Structure in Affordable Housing: The conversation explores the recent changes in HUD guidelines, allowing landlords to charge up to 150% of the small area fair market rent.