771: Seeing Greene: Getting Into Your First Property is Cheaper Than You Think w/Kristina Smallhorn
BiggerPockets Real Estate Podcast
How to Invest in the Affordable Housing Space
The government would have to subsidize and make it or incentivize investors to do so. Development of land is a big chunk of what costs a house. Christina Smallhorn: "If you put it there, they will buy it"
You’ve been lied to about affordable housing. Most people will either tell you it’s impossible to buy an affordable home or that those buying affordable homes are outright stupid. The term “affordable” has been correlated with inexperienced buyers getting cheap deals on homes, often ending up in trailer parks or something of the sort. But things have changed. Mortgage rates are at decade highs, home prices tower over what everyday workers can afford, and a new age of affordability is upon us—we’re here to unlock it for you.
A new forest of David Greenery has sprouted as we welcome Kristina Smallhorn and Rob Abasolo onto this episode of Seeing Greene. Kristina, Louisiana-based realtor, has been fighting for affordability, helping get her clients into creative homes that don’t break the bank. She’s here to dispel all the myths about affordable housing, manufactured homes, modular homes, land investing, and more. We’ll touch on build-to-rent homes and who should NOT be investing in them, green flags to look out for when buying land, and the danger behind new forty-year mortgages.
Want to ask David a question? If so, submit your question here so David can answer it on the next episode of Seeing Greene. Hop on the BiggerPockets forums and ask other investors their take, or follow David on Instagram to see when he’s going live so you can hop on a live Q&A and get your question answered on the spot!
In This Episode We Cover:
Affordability in 2023 and how homebuyers can still purchase even with high home prices
Modular homes and how these cheaper builds are quickly becoming the high-quality norm
Build-to-rent properties and whether or not appreciation is worth the lack of cash flow
Red (and green) flags to watch out for when buying land, plus how to know a plot can even be built on
The forty-year mortgage explained and why it may be a BAD idea for desperate borrowers
Misconceptions about affordable housing and why “mobile homes” aren’t what you think
And So Much More!
Links from the Show
Listen to All Your Favorite BiggerPockets Podcasts in One Place
Learn About Real Estate, The Housing Market, and Money Management with The BiggerPockets Podcasts
Get More Deals Done with The BiggerPockets Investing Tools
Find a BiggerPockets Real Estate Meetup in Your Area
Hear Dave on the “On the Market” Podcast
Subscribe to the “On The Market” YouTube Channel
Here are 92 of the Most Affordable Housing Markets in the World
The Harsh Reality About Pre-fab Homes and Why I Won't Ever Buy Them
Book Mentioned in the Show:
10 Things You Need To Know About Land by Cheryl Sain
Housing For Purpose by Whitney Chaffin
Connect with Kristina:
Click here to listen to the full episode: https://www.biggerpockets.com/blog/real-estate-771
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