How to Build Affordable Housing | Black Woman Real Estate Developer | Ep 172
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- čas přidán 20. 08. 2024
- 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 www.blackenter...
Join the waitlist for my out of state investing coaching program here www.outofstate...
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Access all of our resources on our website- www.blackreale...
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
Very inspiring. A black young woman here, 26 years old. Who is in the process of being her career as an Affordable Housing Professional. I’m working on RE license and CAM license. Along with a few other housing designations such as COS, TCS, BOS, and HCCP are the goals. In hopes of being in like Vanessa Cole. God willing. My dream is have my own Property Manage and Affordable Housing Real Estate Co.
You are so kind thank you. You are on the right track! You’ll accomplish all of your goals, keep working!
I love this! I’m also putting together a plan to start in real estate investing and partnering with affordable housing to not only for the sake of housing the needy but so much more that I just can’t disclose on here. Overall I’m putting my vision down on paper I believe my desires have became Gods desires for his people and he has so much in store brewing up for the nations. It’s nice to see people going in the same direction as I’ve been praying about my destiny helpers on the plan he has giving me. You’re so intelligent for your age and I love that and pray that the Lord prosper you with your plan. You got this!
P.s. I’m black, a mother of three & still in my 20’s as well😉
Now THATS NOW YOU ASK INTERVIEW QUESTIONS SIR!!! 🙌🏿👏🏿
That means a lot to me! I really appreciate it!
Always inspired by Vanessa Cole. She’s such a force and I can’t wait to see how her company develops
She definitely is, thanks for watching!
I loved this! I love that there's representation of young black women in this space. The key take away is that she set her mind on a vision and took action. Looking forward to part 2.
thanks for your kind words!
Great conversation!
Thank you!
This episode helped me out so much in the first 10 minutes 🙏🏾. Appreciate it
You’re welcome! Part 2 coming very soon 😎
And yet another fantastic interview with not just someone who is doing the work but someone who has a really inspiring story and trajectory. I particularly loved where she said she is consistently underestimated - that is a superpower for real.
thank you for tuning in!
Motivation!
Wow amazing! Idk if Vanessa has read Transurfing Reality or not, but her approach to this mentally matches exactly what this book teaches. This is incredible.
Thanks for your kind words!
Loved this episode. I’m in the nascent planning stages of doing something similar in L.A. Thanks for sharing this!
Thanks for tuning in!
Bless Your Heart Ms Cole
Great interview! Thank you for sharing!!
Thanks for your support!
I love this woman! ❤
Thanks for tuning in!
very informative ✍🏾
Awesome programs
glad you enjoyed!
I would like to see her financials and what her profit margins are, and if the homes are sold as the developer how much of a percentage does she get from the sale.
Thanks for your comment
Amazing!
thank you!
Do you have another interview with her where she goes in depth into the process of RE development? Phase A to Z.
This was my only interview with her. I do have a handful of interviews with other developers though, hopefully those provide some additional information.
Here is a recent one to check out
czcams.com/video/xbCf2SS1YIE/video.html
Another recent one to check out
czcams.com/video/0YmytJ4djfY/video.html
Can we get a new interview with her
Great interview!
thanks for your kind words!
Excellent video💚💚💚
Thank you ❤️
So positive ❤
Thanks!
I love your show!
Thanks for your kind words!
Determination
They start talking about the universe I have to exit stage left.
What’s the deal with black real estate? Can you just be successful without making it a race thing? Proud of your accomplishments no matter your ethnicity.
Thanks for asking. Before I started my show there was a lack of representation within real estate from our community. So I wanted to create a platform highlighting our stories that weren’t being told. The channel is for the benefit of everyone though regardless of race, from our perspective. Anyone can use the information shared and I love that a variety of folks enjoy the content. Hope you liked the video!
Keep going 🎉 than you for the information
Thanks so much! You're very welcome!
I would love to collab/business with you Vanessa, im working on doing the same thing in the very near future. Subdividing land and building homes!
#TexasStrong
thanks for watching!
Is low cost housing a bid or how do you acquire the land and get city funding?
That is a great question. I’m not 100% sure but I guess overall it depends
I would love to see this done without subsidies…
It’s almost impossible to build profitable affordable housing without subsidies, tax credits etc. it wouldn’t make financial sense without it
True story
🔥🔥🔥
I love this interview! I Love how feminine she is despite being in a male dominated space!!! DOPE!
Thank you so much for watching! Glad you enjoyed
Salute
5K to cover those finishes?
not even for the material cost
I need her help in New Caney TX. I have a nonprofit and I own the land.
That’s awesome!
Any New Construction
I am looking for developers in Houston/ Montgomery County Texas. I want to build affordable housing for Seniors. I have my land and my nonprofit.
Finding a developer is not easy, I need a partner and a mentor
this interests me. Would love to learn how I can help you or be a part of this. Senior market there is a need.
Future Wife 😍😘
There is no such thing as an affordable home if someone is willing to overpay for one.
Thanks for tuning in!
Determination