EP302 Development Strategies for Affordable Housing and Market-Rate Luxury Condos with Nick Earls & Eric DiNicola
Today we’re going to take a look at the Affordable Housing Crisis in the U.S. and how this will become increasingly important to renters and rental property owners in the coming years. Construction and labor costs have risen to a point where current prices and rents may not justify the expense of building new supply, yet the demand for housing is growing and creating a lack of affordable housing for many people.
My guests today have positioned themselves to be part of the solution. Nick Earls and Eric DiNicola are full-time real estate investors, developers, and founders of Winterspring Capital, a private equity firm based out of Boston, MA.
Nick and Eric have over $100 Million in past and current assets under their belts and focus on several types of multifamily investment and development strategies. Currently they have both an affordable housing development in progress, as well as a $25 Million market-rate 32-unit luxury condo development in Boston.
We’ll also discuss the importance of having a High-Net Worth Investor or group to partner with in order to acquire the best financing from lending institutions. Nick and Eric also discuss the political and public process they go through in the pre-development phase and share tips on how to react when dealing with aggressive input and feedback from the NIMBY crowd.
Nick and Eric have a lot of incredible development wisdom to share in this episode. You can find out more about them through their website: https://winterspringcapital.com
Today’s episode is brought to you by Green Property Management, managing everything from single family homes to apartment complexes in the West Michigan area.
And RCB & Associates, helping Michigan-based real estate investors and small business owners navigate the complex world of health insurance and medicare benefits.