Dr. Toby PotterCEO and Founder, The Unshakable Investor · Real Estate Investor Success Coach

Affordable Housing Success: $2.5M Grant Transformation!

Name: Affordable Housing Success: $2.5M Grant Transformation!
Uploaded: 2025-05-22T11:14:32+00:00
Duration: 39 s
Channel: Dr. Toby Potter
Description: In this first‑person account, the speaker describes acquiring a downtown building for $750,000 and converting it into 60 affordable‑housing units. He…

22 May 2025 · 1 min

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0:39

In this first‑person account, the speaker describes acquiring a downtown building for $750,000 and converting it into 60 affordable‑housing units. He outlines the planned $3–4 million rehabilitation investment and explains how he approached the city on the day of purchase, requesting financial assistance. The city responded with a $2.5 million grant—free money—to support the conversion, illustrating a public‑private financing partnership that enabled the affordable‑housing project to move forward.

Chapters

We bought it, and I bought this building for $750,000. We converted it to 60 units affordable housing. What was awesome about it was we— the day I bought it, we went and sat down with the city and said, I'm buying this building, it's downtown, I'm going to put about $3 million into it, maybe even $4 million, but I want your help. Like, what do you mean? I said, you guys have grant money, we know you have programs for this. If we make this affordable I was telling them, how much money can you give me? They give me $2.5 million on a grant, free money, to put into that property and turn it around.