Quote from @Devin James: In one of our development projects, the City staff asked us to remove 40 units from our concept plan.This wasn’t requested by the City Commission at a formal hearing, it was the opinion of the staff.Our original concept already proposed fewer units than the current zoning would have allowed.Here’s what erasing 40 units means:- 40 fewer homes for buyers- Over $1M in lost profit for our team- Fewer tax dollars and impact fees that could’ve benefited the City’s infrastructure & servicesWe gotta get betterEveryone wants more affordable housing, but not everyone wants to do what it takes to achieve it we never listen to the recommending bodies. we move for city approvals and work closely. the other thing we do is keep going back to the same groups over and over and over and over every month on the same agenda and make very small reductions like 2% or 4% and that reduces and beats them down eventually they accept what you want. it's just before beating a dead horse. we keep tabling until they give us something we all agree on then we go to vote. in our city in columbus we have to get recommendations but that's our strategy. we used to come out as aggressive as possible. we typically study developments in the area and keep it very similar in terms of density. we have a track record of very controversial projects and litigation and not taking no as an answer. after a year of that haha I can tell you it's not worth it. now we are more relationship based and buying the right kinds of plots of land. if the numbers don't work on the front end don't do the development. 

Probably a quarter of the buyers we work with are house hackers.

I think a lot of the midwest cities will capitalize on that in the coming years with the housing affordability issues the country as a whole has been having.

Investment Info:Single-family residence fix & flip investment.

Investment Info:Single-family residence fix & flip investment.

You're in a strong rental market, and house hacking a small multifamily in Phoenix is a smart way to build wealth.

Investment Info:Single-family residence fix & flip investment.

I regularly get sent underwriting on value adds in excess of 20%.I do not do work intensive value adds to flip so my acquisitions have slowed significantlygood luck

I was sent an offering memo by a broker selling a multi-family building in an area no reasonable person would even consider affordable housing material yet the marketing materials made a point of emphasis to detail how the property would satisfy the need for affordable housing.

Benefits:1) Tenants can't lock keys in house, they have to use their key to lock the deadbolt.2) Cheaper to rekey or replace locks (only deadbolt!)