In this episode of Zen and the Art of Real Estate Investing, Jonathan sits down with Peter Neill of GSP REI to explore how smart investing, capital raising, and strategic redevelopment can work together to create real impact in communities. Peter’s background in distressed mortgage investing laid the groundwork for what would become a deep dive into workforce housing and long-term portfolio building.
Building More Than a Portfolio
Peter began his career supporting a well-known figure in the capital-raising space. Once he launched his own firm, he quickly realized that marketing alone doesn’t bring in investor dollars. Execution matters most. He shares how his early deals taught him to focus on fundamentals: buying well, understanding construction, and creating value in underdeveloped neighborhoods.
At GSP REI, Peter and his team focus on redeveloping blighted single-family homes in areas with limited inventory and rising housing demand. Their target markets—like Baltimore, Philadelphia, and South Jersey—have strong fundamentals and unmet demand for workforce housing.
A Grounded Approach to Fund Management
Rather than chasing shiny marketing tactics, Peter emphasizes the importance of boots-on-the-ground experience and clear communication. GSP REI operates with a vertically integrated model, handling acquisitions, construction, and property management internally. That structure allows them to control outcomes, minimize risk, and build investor trust.
Peter raises capital through funds aimed at long-term holds. They’re able to refinance and create lasting income by purchasing at a deep discount and executing efficient renovations. His strategy borrows from the BRRRR method but adapts it for scale and resilience in today’s shifting market.
Affordable and Workforce Housing: Definitions Matter
One of the most important parts of Peter’s mission is clarity. He distinguishes between affordable housing, often subsidized, and workforce housing, which targets middle-income renters. GSP REI operates in both spaces but leans toward market-rate units in neighborhoods where Section 8 vouchers are optional, rather than required.
Peter explains that many markets are supply-constrained and show strong demand for well-managed, reasonably priced rental properties. Their model brings housing back online in places that need it most while offering investors the chance to participate in socially conscious real estate with long-term upside.
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