The Impact Real Estate Podcast: The Summer Series with Karim Hutson

On this episode of the Impact Real Estate Podcast, we continue our Summer Series by revisiting our conversation with Karim Hutson, the founder of Genesis Companies, a real estate company focused on building and preserving affordable workforce, mixed-income properties. Karim discusses the mission of Genesis Companies and their commitment to not only building quality housing but also being advocates for the communities they serve. The conversation also touches on the importance of embracing virtual work and creating a collaborative culture, as well as Karim's personal journey into real estate and his influences growing up. Chris Papa and Karim discuss his journey in affordable housing development, starting with his first deal and how he learned to navigate the financial aspects of the industry. He shares how his company has evolved from focusing on new construction to preserving affordable housing and taking on more complex deals. Hutson emphasizes the importance of understanding finance, having a vision, being malleable, and building partnerships in the real estate industry. He also discusses the increasing competition in the affordable housing market and how his company stands out by focusing on local knowledge and community partnerships. Hutson shares advice for those starting out in affordable housing development and highlights the impact his firm has in advocating for diversity and supporting the next generation of developers.

Apple Podcasts: https://apple.co/3I3nkG9

Spotify: https://spoti.fi/35ZJGLT

Web: https://www.jacksonlucas.com/podcast/summer-karim-hutson

Chapters

00:00 Building Affordable Housing and Advocating for Communities

08:03 Embracing Virtual Work and Creating a Collaborative Culture

13:10 Karim Hudson's Personal Journey into Real Estate

24:57 Understanding the Affordable Part of Housing Development

26:22 Transition to Property Management and Community Support

29:38 New Deal with the Housing Authority in New York City

35:20 The Importance of Understanding Finance in Real Estate

37:48 Navigating the Competitive Real Estate Market

42:12 Advice for Starting Out in Affordable Housing Development

44:14 Memorable Deal: Purchasing the Abyssinian Development Portfolio

46:44 Advocating for the Next Generation of Developers

Takeaways

Genesis Companies focuses on building and preserving affordable workforce, mixed-income properties.

The company is committed to being advocates for the communities they serve.

Embracing virtual work and creating a collaborative culture are key to productivity and success.

Karim's personal journey into real estate was influenced by his upbringing and a desire to make a meaningful impact. Understanding finance is crucial in affordable housing development

Having a clear vision and being malleable are key to success in the industry

Building partnerships and leveraging local knowledge can help stand out in a competitive market

Starting out in affordable housing development requires commitment, patience, and understanding the long timeline

Advocating for diversity and supporting the next generation of developers is important for creating impact