A developer shows why affordable senior housing is a smart investment. He bought an 81-unit campus in Abilene, Texas for $4.2 million and describes the clubhouse and maintained grounds that dispel the myth that low-income housing means run-down properties. The financial returns are strong, and so is the impact on people who need it.
Chapters
This is affordable housing, and this is my favorite asset class. It's 55+. Now, by affordable, this means that you have to make 60% or less of the area median income. But when we talk about low-income housing, a lot of people think beat-up houses in the middle of nowhere in the Midwest. That's not what Section 8 looks like. This is the clubhouse of a beautiful campus that I have here in Abilene, Texas. I want to show you what this actually looks like when you do it right, because as a landlord providing low-income housing to excellent people who need a little bit of help it can be unbelievably rewarding. Check this out. That is exactly what I am talking about. Beautiful campus, well-maintained buildings, beautiful interior spaces. I bought this building for $4.2 million. It's 81 units. Fantastic deal. It makes a lot of money, but I get paid doing exactly what I love. If you could do one thing that makes more money that you feel good about, 55-up affordable communities. If you find one of these, you gotta buy it.