Affordable Housing Construction

[Canesha Edwards]

Hello BiggerPockets Family,

I have been on the site for a while but have never pulled the trigger on buying a property, mainly because I couldn't decide on a niche or what direction I wanted to go. However, I glad to say that I think I have finally found my calling.

I've been doing research on Affordable Housing and in my opinion we are headed for a crisis. This is something I am seeing first hand in the Atlanta market.  So, I plan on developing affordable housing units. This would include SFRs, townhomes, multi-family, etc.  I would develop the property from start to finish ( buying land- completion of the building).  I know this is a great undertaking for someone starting out, but I believe in the purpose and there is a definite NEED. I'm not just talking about Section 8 housing either. I am looking to cater to a particular market at a certain price point within city limits and neighborhoods where gentrification is taking place and displacing long time residents.

I would love to hear from anyone who is currently operating in the affordable housing space. Builders, lenders, agents etc.  How are you funding your deals? If you are receiving grants, what is the process like? Dos & Don't? Success stories, etc. All feedback is greatly appreciated.