How to Build Affordable Housing | Black Woman Real Estate Developer | Ep 172
Today’s interview is with Vanessa Cole, co-founder of Cole Klein Builders, a residential new construction company in Houston, TX.
Vanessa is a bank teller-turned-successful real estate developer responsible for building over 50 affordable homes in Houston. Through the power of mentorship and networking, she was given opportunities that allowed her to make a significant impact in the affordable housing sector.
Vanessa also discusses her current product pipeline, which includes six affordable homes, a one-acre trac with six townhomes, and an 18-acre and 43-acre development project under the mayor's 3000 home initiative.
Highlights
1) Having the right mentor can shorten your learning curve as a real estate developer. By leveraging the experience of a mentor, you can bypass common beginner mistakes and mitigate as much risk as possible as you build the foundations for your business.
2) Partnering with your city can increase the profitability of an affordable housing project. Subsidies can significantly reduce land and construction costs, providing a powerful incentive for more developers to enter this space.
3) Being underestimated can be a superpower. Know your strengths and weaknesses, focus on doing good work with good people, and let your product speak for itself.
How to find her
Website - www.colekleinbuilders.com
Instagram - @thevanessacole
Read my Black Enterprise Article https://www.blackenterprise.co....m/founder-and-host-o
Join the waitlist for my out of state investing coaching program here https://www.outofstatemoney.com/
Shop our merch- https://blackrealestatedialogu....e.com/collections/al
Access all of our resources on our website- https://www.blackrealestatedialogue.com/links
Timestamps
0:38 - From bank teller to real estate developer
3:48 - Dealing with the learning curve to become a real estate developer
5:36 - The importance of mentorship
7:55 - Vanessa’s work in the affordable housing space in Houston
11:02 - How partnering with your local government can increase a development’s profitability
13:27 - The average sales price of Vanessa’s affordable homes
15:15 - Advice to Black women looking to get into affordable housing
17:25 - Projects currently in the pipeline for Vanessa
#houstonrealestate #houstontx #newconstruction #newconstructionhomesforsale #newconstructionhome