Affordable housing profitability as a strategy
Real high level question here. Seen a lot of AH funds around run by people with pretty impressive backgrounds. Just curious as to your guys thoughts on the profitability of these strategies as I'm not familiar with them. Part of me thinks it's a good model because of all the government subsidies that tend to be attached to them. The other part of me thinks they're probably not the best as it's more of a social service first, and a profit seeking venture distant second (nothing wrong with that if it's what you're looking for).
Any thoughts? Legit niche within RE where there's money to be made, or mostly altruistic people out to save the world? My gut instinct says the latter but was curious to your guys' thoughts. Thanks.
P.S.- From a purely economic POV, I'm definitely long AH but that's a different discussion.