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The Philadelphia-based real estate investment company GSP REI has announced an impact investment opportunity. The project sets out to acquire and re-develop dilapidated properties in areas with a need for a workforce that lacks quality, affordable housing.
To learn more, please visit: https://gsprei.com/current-offerings/
GSP REI's initiative is focused on single-family rental properties. To be able to keep development costs down and offer affordable housing and profit for investors, the company works on a vertically integrated structure with in-house construction, asset, and property management teams.
"Our approach includes acquiring land for new construction and purchasing distressed and value-add properties, both individually and in portfolios. We carefully balance our portfolio to maintain an ideal mix of long-term rental income and short-term sales opportunities," a company spokesperson said.
Workforce housing is aimed at groups that earn too much to qualify for housing assistance but struggle to keep up with rent market prices. According to the U.S. Department of Housing and Urban Development, affordable housing is defined by monthly costs for rent/mortgage, taxes, and insurance that don't surpass 30% of a family's income.
Many people described as "typical workers" who are stuck in this in-between stage provide essential services, for example, teachers and health care workers.
A CNN article from 2022 pointed out that at the time, there was no county in the whole nation where a minimum-wage worker could afford a two-bedroom rental after a national 18% rent increase from 2021 to 2022. Additionally, there were only 36 affordable housing units per 100 people in need.
GSP REI acquires property below market price from various sources, including Government-Sponsored Enterprises (GSEs), local real estate professionals, and financial institutions. As the company handles the whole process, it doesn't require a big time commitment from investors. Additional details can be found here: https://gsprei.com/
"Our investment philosophy is simple: We focus on earning a high rate of return for our investors with as little risk as possible," the company spokesperson said.
To qualify as an eligible investor for GSP REI's affordable workforce housing initiative, applicants should have a $1 million net worth (not including primary residence), make $200,000 for a single household, or $300,000 combined with a spouse.
Those interested can learn more at: https://gsprei.com/contact/
Disclaimer:
This is not an offer; offers are made only through the Regulation D Offering Documents available on GSP REI's website and are for accredited investors only. Investing involves risk, and past performance is not indicative of future results; GSP REI recommends consulting with a financial professional before making any investment decision.
Contact Info:
Name: Peter Neill
Email: Send Email
Organization: GSP REI
Address: 851 Duportail Rd 2nd Floor, Chesterbrook, PA 19087, United States
Phone: +1-610-357-2330
Website: https://gsprei.com/
Release ID: 89143545