Speaker 1: An illegal alien from Guatemala charged with raping a child
Speaker 1: in Massachusetts. An MS thirteen gang member from Al Salvador
Speaker 1: accused of murdering a Texas man of Venezuelan charged with
Speaker 1: filming and selling child pornography in Michigan. These are just
Speaker 1: some of the heinous migrant criminals caught because of President
Speaker 1: Donald J. Trump's leadership. I'm Christy nom the United States
Speaker 1: Secretary of Homeland Security. Under President Trump, attempted illegal border
Speaker 1: crossings are at the lowest levels ever recorded, and over
Speaker 1: one hundred thousand illegal aliens have been arrested. If you
Speaker 1: are here illegally, your next you will be fined nearly
Speaker 1: one thousand dollars a day, imprisoned, and deported. You will
Speaker 1: never return. But if you register using our CBP home
Speaker 1: app and leave now, you could be allowed to return legally.
Speaker 1: Do what's right. Leave now. Under President Trump, America's laws,
Speaker 1: border and families will be protected.
Speaker 2: Sponsored by the United States Department of Homeland Security.
Speaker 3: Is affordable housing from a developer perspective, just from a okay,
Speaker 3: social perspective. Yeah, is it beneficial in closing the wealth gap?
Speaker 4: Oh?
Speaker 3: Or does it just keep status quo? You're doing a
Speaker 3: good thing by providing service for people. Yeah, but I
Speaker 3: just I don't know if that is something it's exactly
Speaker 3: It's like welfare, right, Welfare is beneficial, yeah, assistance, yes,
Speaker 3: but it's you're kind of staying at this level es right.
Speaker 4: Yeah, you one hundred percent? Right.
Speaker 5: So, affordable housing in the traditional sense most people think
Speaker 5: it's Section eight, you know all of that stuff. But
Speaker 5: if y'all notice, like, for the most part, I do
Speaker 5: mixed income housing, so I have market right units and
Speaker 5: pretty much all of my deals. It may be sixty
Speaker 5: percent or seventy percent affordable, it maybe twenty percent market
Speaker 5: And even affordability is at different levels. It's thirty percent
Speaker 5: of the AMI, which is low income. At Section eight,
Speaker 5: you got it at fifty sixty percent of the AMI,
Speaker 5: which is typically your workforce, so you're barista at the
Speaker 5: local coffee shop or your teacher, et cetera.
Speaker 4: They live there as well.
Speaker 5: But then the market rate folks that may be at
Speaker 5: six figures plus are also in these buildings, our building
Speaker 5: areas that are predominantly market rate. So like the Water
Speaker 5: Street building that I'm putting up right now, it'll be
Speaker 5: done really at the end of this month, but people
Speaker 5: start moving in next month. That building right next door
Speaker 5: is a ton of condos right across the street, a ton
Speaker 5: of condos. There were fifty people on opposition every single
Speaker 5: community meeting we have for that deal, because they didn't
Speaker 5: want them around. They thought of like this negative stigma
Speaker 5: of affordable housing. Again, what I'm doing is mixed income housing.
Speaker 4: So like the.
Speaker 5: People that are living in that condo can actually live
Speaker 5: here too if they want to sell. Are kind of
Speaker 5: a move and it's justice quality. So when you have
Speaker 5: a mixed income in one group, that's where you have
Speaker 5: the different levels of collaboration. It's kind of like Uel, right,
Speaker 5: I think about investmentest there are people super low income,
Speaker 5: there are people meeting income, and there are people extra
Speaker 5: extremely high end QUO. That's the melting pot of success.
Speaker 5: If you just continuously have affordability at this level and below,
Speaker 5: we never get out of that because you never see,
Speaker 5: you never learn, you never grow. Y'all are to live
Speaker 5: an example of really the answer to your question. You
Speaker 5: got to see something to believe in. And if you
Speaker 5: just keep that concentration of poverty together, no, that is
Speaker 5: nothing answer at though.
Speaker 4: This is why you text me.
Speaker 6: This is why you text me after the segment that
Speaker 6: we were going back and forth on market. Mondays, that's right,
Speaker 6: and I was trying to It's kind of like the
Speaker 6: first thing is like, let's have our basic needs met
Speaker 6: and then let's be inspired. So both I think both
Speaker 6: both points are pretty valid. You did the mixed units,
Speaker 6: but there's also different types of real estate that you're
Speaker 6: invested in now, So let's talk about what the portfolio is.
Speaker 4: Going to be looking like in the next five to
Speaker 4: ten years.
Speaker 5: Yeah, great question. U. Diversification from a geographic perspective a
Speaker 5: kind of outline. But to your point, I'm looking at
Speaker 5: other things. I think development and general right now is down.
Speaker 5: Like real estate is cyclical. There's four cycles. Like we're
Speaker 5: not in a good one right now. I won't say
Speaker 5: not in a good one, We're just in one that's
Speaker 5: historically like bad, right You just have to know what
Speaker 5: to do within that cycle. So right now, what I'm
Speaker 5: really looking at is multi family acquisitions, Like how do
Speaker 5: I go, Yes, I got a couple thousand units on
Speaker 5: my pipeline that I'm developing over the next eight to
Speaker 5: ten I take a long time, but how do I
Speaker 5: buy five thousand units? In the next five years acquisitions
Speaker 5: you can buy that. Like literally the formula on the
Speaker 5: commercial real estate side, again, it's simple, one hundred million dollars.
Speaker 5: I'm getting seventy a debt. I need thirty million equity.
Speaker 5: I need to bring three million to the table. So really,
Speaker 5: through the various platforms and initiatives, we can start to
Speaker 5: identify that three million so I could bring and find
Speaker 5: it twenty seven that can then fund the one hundred
Speaker 5: million dollar deal.
Speaker 4: From an acquisition perspective, if I can.
Speaker 5: Scale that up, it it's a level of balance, like
Speaker 5: not just suffordability, because developers are very like asset rich
Speaker 5: balance seats crazy, but like cash poor. I just said
Speaker 5: it takes five hundred thousd to a million dollars a deal,
Speaker 5: So if you got five of them things, no matter
Speaker 5: how wealthy you are, at a certain point, it's like
Speaker 5: my cash is low. But the thing about the value
Speaker 5: asked stuff. I had a friend Venus, she bought a
Speaker 5: deal right outside of Atlanta.
Speaker 4: I think it was.
Speaker 3: Four.
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Speaker 1: An illegal alien from Guatemala charged with raping a child
Speaker 1: in Massachusetts. An MS thirteen gang member from Al Salvador
Speaker 1: accused of murdering a Texas man of Venezuelan charged with
Speaker 1: filming and selling child pornography in Michigan. These are just
Speaker 1: some of the heinous migrant criminals caught because of President
Speaker 1: Donald J. Trump's leadership. I'm Christy Noman, the United States
Speaker 1: Secretary of Homeland Security. Under President Trump, attempted illegal border
Speaker 1: crossings are at the lowest levels ever recorded, and over
Speaker 1: one hundred thousand illegal aliens have been arrested. If you
Speaker 1: are here illegally, your next you will be fined nearly
Speaker 1: one thousand dollars a day. Imprisoned and deported, you will
Speaker 1: never return. But if you register using our CBP home
Speaker 1: app and leave now, you could be allowed to return legally.
Speaker 1: Do what's right. Leave now. Under President Trump America's laws,
Speaker 1: border and families will.
Speaker 2: Be protected sponsored by the United States Department of Homeland
Speaker 2: Security forty million in twenty twenty one, and SODA for
Speaker 2: one to twenty and like or twenty twenty twenty and
Speaker 2: TOTA eighteen months later for like one twenty.
Speaker 5: So you look at opportunities from a value a perspective
Speaker 5: if you know how to underwrite them and look for
Speaker 5: the right things. There's Class C and DP properties that
Speaker 5: really need the same level care that some of these
Speaker 5: new developments are getting. You go in, you put in
Speaker 5: the rehab money, you go fix it up. Now it's
Speaker 5: to be B plus a minus. Now you're cranking out
Speaker 5: income equivalent to the new construction stuff that's out there
Speaker 5: at a fraction of the costs. So the value here
Speaker 5: is probably just less than the value there. But your
Speaker 5: basis for getting in is here, so that spread is yours.
Speaker 5: So I'm really looking at it from that perspective. From
Speaker 5: a multi family acquisition play, developing some studios in Atlanta.
Speaker 5: Hopefully by the time this comes out, I can make
Speaker 5: a formal announcement, but two really really big you know,
Speaker 5: partners in conversations with their industrial that was one of
Speaker 5: the best asset classes in the pandemic across anything. I mean,
Speaker 5: didn't matter, stocks, bonds, real estate don't matter. Industrial real
Speaker 5: estate was toe to toe with anything else you put
Speaker 5: up there. So when you look at that, it's like, Okay,
Speaker 5: regardless of anything that's going on in capital markets, this
Speaker 5: specific thing is booming. And for production in Atlanta, it's
Speaker 5: the new Hollywood right like literally, it's the new Hollywood.
Speaker 5: They have a thirty percent tax credit. If you do
Speaker 5: one hundred million dollar production in Atlanta, you get thirty
Speaker 5: million back.
Speaker 4: That's why they're there.
Speaker 5: So from a resident from a development perspective, my partner
Speaker 5: is an Exbert and those guys they developed third Rail
Speaker 5: Studios ended up selling it and whatnot. But the Rocks
Speaker 5: movie Rampage was film there, Ozark was filmed there. Like
Speaker 5: that's the quality of productions that will be coming out
Speaker 5: of these studios. So studios, I think is a huge
Speaker 5: opportunity in Atlanta. It'll get saturated in a little bit,
Speaker 5: but right now, it's time to strike.
Speaker 3: So what about the Choice Neighborhood Implementation grant?
Speaker 4: It's that deal.
Speaker 5: So that's that's the Birmingham man. That three hundred and
Speaker 5: seventy million that they put it was from the federal government.
Speaker 5: So last time we did a deep dive on tax credits,
Speaker 5: but I think this time we should definitely highlight this fact.
Speaker 4: I won a fifty million dollar grand granted.
Speaker 5: Was a team but I when I did that interview
Speaker 5: two and a half years ago, I didn't know I
Speaker 5: could win a fifty million dollar grant. I had no
Speaker 5: clue that there was a fifty million dollar grant exists
Speaker 5: that Brandon Rule could be a part of. But now
Speaker 5: it's like, oh, I do so the Choice Neighborhood Implementation
Speaker 5: grant is that fifty out of the three seventy, it
Speaker 5: was the highest one that got We got the biggest check.
Speaker 5: Some people have fifty, some got forty, some got less.
Speaker 5: But it allows you to redevelop these communities. And when
Speaker 5: I talked about the capital stack earlier on the community
Speaker 5: development side, the value is here, but the cost is here.
Speaker 5: That fifty million plugs in that delta.
Speaker 3: Where's the grant from the state federal Yeah, so that's
Speaker 3: when Secretary of FUDGS came down, brought the check federal government.
Speaker 4: Every year they put it out. They just actually announced.
Speaker 5: Yesterday that they have I forget the exact number, but
Speaker 5: they're putting out I think it was two hundred and
Speaker 5: fifty or so million.
Speaker 4: So how can people find grant information? Like how can
Speaker 4: you even.
Speaker 5: Google choice that specific one choice neighborhood implementation grant. They
Speaker 5: have a planning grant too that cities typically go and
Speaker 5: like that's such a five hundred thousand where they pay
Speaker 5: different consultants to put together their plan.
Speaker 4: But that fifty million is huge.
Speaker 6: Yeah, I mean in relationships again, like you said, the
Speaker 6: fact that the mayor knew the Secretary of HUD and
Speaker 6: the fact that the Secretary of HUD looks like us.
Speaker 4: Yeah, helps absolutely. In two years that might not be
Speaker 4: the case. It's time to strike or at least learn
Speaker 4: because in eight years it might be.
Speaker 5: The case again exactly. But you'll be prepared once you
Speaker 5: put yourself in that position. Like my preparation really is
Speaker 5: what's manifesting itself into what we are starting to see today.
Speaker 5: Like I if it wasn't for me doing those tax
Speaker 5: created deals. I wouldn't be able to do this master
Speaker 5: plan stuff, but I know how to do each individual deal.
Speaker 5: So now when I'm putting together seven, it's like I
Speaker 5: know how to do each individual one. But let me
Speaker 5: put together the plan for the seven. Now I got
Speaker 5: integral and partnerships here, it'll be able to help streamline
Speaker 5: that process.
Speaker 4: Compare yourself for the moment, that's right.
Speaker 1: An illegal alien from Guatemala charged with raping a child
Speaker 1: in Massachusetts. An MS thirteen gang member from El Salvador
Speaker 1: accused of murdering a Texas man of Venezuelan charged with
Speaker 1: filming and selling child pornography in Michigan. These are just
Speaker 1: some of the heinous migrant criminals caught because of President
Speaker 1: Donald J. Trump's leadership. I'm Christy nom the United States
Speaker 1: Secretary of Homeland Security. Under President Trump, attempted illegal border
Speaker 1: crossings are at the lowest levels ever recorded, and over
Speaker 1: one hundred thousand illegal aliens have been arrested. If you
Speaker 1: are here illegally, your next you will be fined nearly
Speaker 1: one thousand dollars a day, imprisoned, and deported. You will
Speaker 1: never return. But if you register using our CBP home app,
Speaker 1: and leave now. You could be allowed to return legally.
Speaker 1: Do what's right. Leave now. Under President Trump America's laws,
Speaker 1: border and families will be protected.
Speaker 2: Sponsored by the United States Department of Homeland Security,