Why Alignment of Interest is Important in Workforce Housing Investments

Why Alignment of Interest is Important in Workforce Housing Investments

To operate ethically in multifamily housing is no simple matter. There are considerations flying at developers from all angles: from investors, to buyers, to sellers, etc. - and many times these interests conflict with each other in unexpected ways. That's why it's crucial to find an alignment of interests as a developer.

In this video, Scott Choppin, CEO and Founder of Urban Pacific, explains how his company navigates these tumultuous waters.

From this video:

Scott: So what I mean, when I say what is the seller’s story in a land transaction is what's their attitude and approach to how the transaction needs to go to be a success for that. Right. So they'll have a narrative, a story about, OK, I'm going to close quick or I need maximum price would be examples of that. Right? I want a short due diligence period. You know, I need to sell to a trusted party that I like. I've met them in person, right, that they connect with the people behind the transaction. So obviously there's infinite numbers of examples, but I think those are some good ones. And so when we approach, we need to know that the story, their story, their narrative about how the transaction should go to be a success for them has some common ground with what we have as a story or narrative for our success in the land closing.

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