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What Is An Affordable Housing Provider?

What is an affordable housing provider?

There are two generally accepted definitions of an affordable housing provider.  The first one is more traditional.  In this definition of an affordable housing provider, the provider is an investor who caters to renters who are in need of some sort of financial support from one or more government agencies.  The chief agency among these being the Department of Housing and Urban Development or HUD and their Section 8 housing voucher program.  The rental definition of affordable housing providers can also be stretched to include lower income blue collar neighborhood housing.    In either case, we are describing a landlord who provides apartments for rent to people who are underserved in most traditional rental markets.

The second version of the affordable housing provider is a hybrid version of a rent to own program where the rental unit, is then converted to some form of rent to own or owner financing purchase of a property.  In this instance the affordable housing title is attached to a property that is being sold to people who can’t go to a bank and get bank financing.  This underserved market is also serviced by investors, with a goal of helping people attain the American dream of home ownership.  This second form of affordable provider program was spearheaded by real estate guru Lou Brown of the Street Smart Investors.  For more information on Lou Brown click this link  http://american-reia.com/house-monster-lou-brown/