Affordable Upstate is a real estate investment firm focused on redeveloping and redefining naturally occurring affordable housing in the Upstate of South Carolina. In 2017 Mario co-founded Affordable Upsate, a small real estate investment firm, at the time with 63 units, that redevelops energy-efficient, multifamily apartment units. Since 2017 we have placed over $50MM of investor equity into socially responsible, environmentally-enhanced workforce housing investments.On this episode, Mario and Jake discuss:The housing shortage in the southeastMario's work in affordable housingBuilding a vertically integrated companyRaising capital & deal structuresConnect & Invest with Jake:Follow Jake on Twitter: https://twitter.com/jwurzakTake the Hospitality Investing Masterclass: https://learn.jakewurzak.com/Learn How to Invest with DoveHill: https://bit.ly/3yg8PwoLinks:Affordable UpstateMario on LinkedInTopics:(00:00:00) - Intro(00:03:51) - Greenville: The new Austin?(00:06:57) - The housing shortage in the southeastern United States(00:13:22) - The opportunity in Class B multifamily(00:16:09) - Mario’s work in affordable housing(00:20:47) - How are you assessing risk?(00:25:47) - Mario’s journey into real estate(00:28:10) - What advantage do you have investing in the market you live in vs. outsiders?(00:29:36) - Making the entrepreneurial leap(00:37:23) - Mario’s first deal(00:41:36) - Value add(00:43:07) - Becoming vertically integrated(00:46:09) - What innovative ways have you chosen to run the operating business?(00:49:56) - What’s a mistake you made when building the PM company?(00:52:12) - Investing through Gps & building trust with investors(00:55:41) - Deal structures(00:57:56) - Raising capital(01:01:30) - What is your competitive edge?(01:03:31) - Construction & renovations(01:08:48) - What’s your weekly work cadence?(01:10:43) - What drains your energy?(01:11:43) - What are your 3-year goals?(01:14:00) - What is your favorite hotel?