It’s our 200th episode—a milestone that celebrates more than just time on the air. It represents 200 conversations centered on financial literacy, community empowerment, and legacy building. And what better way to mark this moment than with a guest whose work embodies everything we stand for?
In this powerful episode, host Corwyn J. Melette, an expert in affordable housing and community-focused investing, sits down with Amy Rubenstein, CEO of Clear Investment Group. With over $500 million in commercial real estate experience, Amy shares her transformative approach to value restoration—reviving distressed, affordable housing across the country without pricing out the people who need it most.
This isn’t just a conversation about real estate. It’s about ethical redevelopment, impact investing, and creating spaces where dignity, safety, and opportunity live under one roof.
Key Takeaways
- 4:40 Why affordable housing doesn’t need to be subsidized to be impactful
- 8:01 What “ethical redevelopment” looks like in practice
- 11:40 Impact investing without sacrificing returns
- 15:40 How Corwyn and Amy define “legacy investing”
- 17:50 Improving housing while preserving affordability
- 19:10 Creating community impact vs. individual rescue
Connect with Amy:
- Email Address: amy@clearinvestgroup.com
- Website: clearinvestgroup.com
Connect with Corwyn:
- Contact Number: 843-619-3005
- Linkedin: https://www.linkedin.com/in/cmelette/
Shoutout to our Sponsor: Mellifund Capital, LLC
Need funding for your next real estate flip or build? MelliFund Capital makes it fast, flexible, and investor-friendly. Visit MelliFundCapital.com and fund your future today. Again, that’s MelliFundCapital.com, M-E-L-L-I-L-U-N-D, Capital.com.
Support this podcast: https://podcasters.spotify.com/pod/show/corwyn-j-melette/support
AMY:
We don’t think of this as philanthropy tenants are paying us rent and we are making improvements yes, we are being good human beings and doing the right thing but I don’t want to put us too high on a pedestal to say that we’re this isn’t philanthropy, right? We expect people to pay and that’s why I’d say I can’t help every individual tenant because if they’re not going to be able to pay that rent I’m going to be able to guide them to an organization that might be able to help them but ultimately I’m not going to be there to pay that rent for them. And that’s why I’m saying it’s not philanthropy And we’re not helping every single individual. We’re helping the community So some people see want to say in their brain I do my good work over here, which is philanthropy and I do my investing over here Which is about me and money and there is not an interlink between and that’s okay That’s not my job to say that you’re right or wrong when you say that right? It happens to be just this amazing opportunity to do good things and make money But again, some people just want that return and that’s where we leave it
CORWYN:
So Good morning, good morning and great morning guys. Welcome to another fabulous episode of Exit Strategies Radio Show Hey, I’m your host Corwyn J Melette broker and owner of exit realty lowcountry groupin beautiful North Charleston, South Carolina Hey, if this is your first time listening to this show you sir Remember it for a treat because our mission is very simple that is to empower our community Through financial literacy and real estate education guys. We’re legacy building. That’s what we do so super excited for today’s show quick shout out to those who we love and those who love us elder and pastor evans my mama out there in Monkey’s Corner, y’all to listen to us in muddy mullins and always my folks out there in hollywood what you know, no good Thank you so much for tuning in. We really appreciate it. So I’m super stoked about today’s someone who works in the real estate space But more importantly is really and truly making a difference So for you listeners, I want to pose this question. How do you turn a distressed property into a legacy build? Opportunity our guest today has delivered Over 37 percent returns doing just that so I want you guys to tune in Because you’re going to get a tremendous amount of information from us today So today I am very honored to have with us none other than miss amy ruben steen She is the ceo That means she the boss of clear investment group And she is a commercial real estate practitioner With over two decades of experience in this space With over a half and I’m gonna put the b on I ain’t gonna leave it in the millions We’re gonna move it up to the b over half a billion Dollar track record and more importantly a passion for revitalizing Workforce housing across america amy. How are you doing today?
AMY:
I am great. Thank you for that lovely introduction It’s really nice to be here with you Well, thank you.
CORWYN:
Thank you so much. And thank you for taking time out of your business schedules to be with us here on the show So I did mine. What’s yours? I want give our listeners that high-level overview who you are and what you do
AMY:
Sure, sure So I have been working in the real estate world for about 23 years And I have always been focused on multi-family properties So apartment buildings with a strong focus and right now a singular focus of Distressed workforce housing or low-income housing or affordable housing in all in words And so we are around the country and we do have a company that is based out of chicago And we like to find properties that are having some troubles Usually from a management standpoint and we like to stabilize them better the communities bring back The communities to where they should have been before And eventually then we do sell our properties
CORWYN:
So as an item of note amy affordable housing as I tell people all the time Is my jam? All right, that’s look here if I was in a rock in a band or was a rock star That would be the song I’d be singing I’d be laying the crowd out So I’m super excited to have this conversation with you, so I’m gonna pose this question to you for you in this space How one can it but also how do you help close that affordability gap? Leveraging this type of product workforce and affordable housing as far as like, how do we?
AMY:
Envision it. How do we see?
CORWYN:
How do you envision and how do you see this type of product and what you guys are doing?
AMY:
Addressing the affordability issue or the affordability gap that exists in real estate for us today yeah, there is absolutely a shortage of affordable housing and one of the reasons that it exists is because Without government subsidies because we don’t do government subsidized housing. So we’re not like light tech or we’re not section 8 housing We’re just not really affordable housing and there’s a shortage of it because when we are buying and selling Our properties we are buying far below the cost of replacement And we are selling below the cost of replacement And so therefore it’s hard for someone else to come in and compete in that world when they’re building something new, right? Because as you just get you get a shortage of affordable housing as more and more people need it But also as some affordable housing gets more and more distressed and now what it becomes is affordable housing That’s substandard And that’s where we’re trying to close the gap is there are properties that can be affordable housing In a safe and habitable way But a lot of these properties Are not being taken care of the right way Or the tenants aren’t being treated the right way Or there is some disconnect into how they should function in a productive society to provide something that is good both for the owner of the property And for the tenants themselves And so we step in to try to fill the gap by finding housing that exists already We’re not building anything new, but it’s not providing what we think it should be providing again Safe habitable housing that people can feel proud to live in that We find properties that should be providing that that aren’t providing that and then try to get them back to what they should have been
CORWYN:
So essentially it’s a value add for your group what you guys do you? Just something that is lacking is missing you come and add that increasing adding value to it Therefore increasing its overall value getting it closer to or to its full potential is what you guys are doing
AMY:
Yeah, I mean we actually like to call it value restoration As opposed to value add And I know I’m being a little cute with this But the reason that we say that is because we’re not trying to change the asset class Because we don’t want to price people out of it So we’re not coming in and saying we’re going to add a brand new gym And we’re going to put in granite countertops and we’re going to make these, you know units fancier We don’t want to do that We want to take the product that was supposed to have been there in existence before That now has fallen apart for certain reasons bring it back to the market Stabilized but not over improve it so that it prices people out And so that’s why we call it value restoration, but I know I’m just being a little cute there
CORWYN:
No, no, that is the perfect definition. That’s not so I didn’t take it as being cute if you will I took it as that’s actually what it is because fundamentally real estate We have this conversation about a property has a certain potential as potential It’s also what it is and is it at its full potential? So you guys are restoring the property’s potential. I really love that concept So why distressed why do these types of properties distress properties such as what we’re talking about Offer unique opportunities in the current climate in the current market Yeah, a lot of people buy properties based on the income that’s coming in today And looking forward what can they do?
AMY:
How can they improve it? But that is very limiting when you’re looking at properties just based on what the income is today Even looking at the potential for us when we’re looking at a property Often the properties we buy are negative cash flowing tenants Maybe aren’t paying their rent for right or wrong reasons and we can get into that later if you want The occupancy is very low. So there are reasons as to why this property is negative cash flowing for us That doesn’t scare us away That’s not a qualification that we have as to whether or not to buy property We are looking towards what does this property look like at stabilization? Once we have market occupancy once we have market collections How is this property cash flowing then and that number that we’re going for? And we’re not afraid of the work that it takes to get from where it is today To that stabilization point and I think that’s where opportunity lies Is if you’re not afraid to get in and do that heavy lifting and do that hard work And if you’re aligned with your customer base so for us I feel like we’re in alignment with our tenants because they want affordable housing We want to provide affordable housing We are not trying to kick people out to raise up rents and that’s what allows us to be successful We are aligned with our tenants
CORWYN:
So I’m gonna give you a term and my precursor maybe it may be a little cute, right? But what you just said and this is a perfect segue into this you guys have an approach if you will that really focuses on ethical Redevelopment. So if you could elaborate on that piece because you may mention about being in alignment with The base so you guys really approach it from what I’m hearing and please articulate from the consumer side More so from the investor side
AMY:
Yes, I will say first and foremost we are a for-profit company don’t want to make us sound overly altruistic But the reason that I love what we do and the reason I love coming to work every day And the reason it’s so easy for me to motivate our team is because we do really great things We really improve communities and we make things better And we don’t have to sacrifice the returns that we give to our investors and that puts us in the luckiest position And I strongly believe that the way to create sustainable impact in communities or in the world if we can take it that far is by not sacrificing profit to investors And also continuing to do good things. That is the sustainable impact where you’re not relying or depending on Someone who doesn’t have skin in the game or someone who’s just giving only to be altruistic Because this way everybody gets to win So what you just made and to give the point in a moment a moment ago was because what you’re defining I have a term written on my board impact investing.
CORWYN:
You can probably have heard this before but Impact invest I have it written up on my board as a reminder So I’m going to actually add this to that to my board as a reminder of why we do this so essentially you’ve managed to accumulate and cultivate a relationship with people who are like-minded who are willing to Invest and with you or work with you all to carry out this mission. Is that correct?
AMY:
Sure, I don’t call us. We are impact investors 100 When I’m pitching to investors Usually not saying that unless I know that that’s something that they are also appreciative of we’re going to be impact investors Whether they want it or not But not everybody some people care quite a bit about it some people don’t so it’s not something we lead with We just happen to be impact investors. It makes us happy and anyone else who it makes happy We’re happy to share that information that we are impact investors and for people that don’t really care. It doesn’t matter We’re going to do it Anyways, right? I think that people sometimes investors sometimes hear impact investing and think we’re Sacrificing and that’s what we want to avoid just want to be good people and do the right thing and make our investors money But the truth is you can do it Not every path is as lucky as our path where it is So it’s so aligned or we really don’t feel like we have to sacrifice So I feel I feel like we’re a lucky company to be able to work in In to be able to both make those profits and make an impact and when I say impact investing. I also want to say We are trying to impact the greater community as opposed to Every single individual in the building. It is nearly impossible For us to be able to help every individual tenant, but we can help the community of tenants as a whole./ Our community our complex, right? So we have to think about what is going to benefit this apartment complex As opposed to how does each and every little and how does each and every tenant in that building? Get a positive impact we’re saying how does this community as a whole have a positive impact? I like that I say that because We can’t always we don’t have the capacity to solve Every tenant’s problems because a lot of their problems are not we’re not capable of solving and so we’re only able to solve the things that we as a company are capable of solving which is A little bit more community based than individual based
CORWYN:
That makes sense So essentially you’re not able to address all life fields But you can overall positive impact the residents as a whole that you guys house So that’s awesome. And I and thank you for that clarification in those final points as well Amy because we want people to really understand this but you’ve obviously your group is very fortunate Not only have a mission if you will that is noble But also to have people that are willing to be a part of that or otherwise assist Harvard at least like you said that’s what you guys are going to do. So how are you guys managing? Obviously this particular arena this particular space is still influenced heavily by Market trends what’s going on in the market, etc. How do you guys navigate that? What does that look like for you? What particular things do you really analyze to help you assess whether or not?
AMY:
It’s time for you to pause and slow on acquisitions or to accelerate or whatever that may need to look like for you So we are looking for Distressed deals that can exist in every market. You can find distressed deals in the hot market You can buy distressed deals in the bottom market I happen to think that we are in more of a buyer’s market than a seller’s market right now I think we’re towards the bottom I don’t know if we’re at the perfect bottom if we already popped off of the bottom if we’re still heading down I’m, not exactly sure. It’s hard to tell when you’re in it, but I am saying we’re in the bottom area There are lots of deals when you’re in the bottom But there’s plenty of deals when you’re in the top two because you’re looking for something We are looking for something that is distressed independent of the market of macroeconomics So we’re looking for it could be that this property is hurting because of interest rates It could be that the property is hurting because of any government changes those things could be possible But those aren’t the sole reasons why this property is hurting The property that we buy is hurting for multiple reasons and that might have been something that kind of tipped it over the edge But this kind of distress that we’re looking for happens everywhere So how do we know when to buy something is we’re looking for enough area of improvement Where we actually are needed where our skills of turning a property around is going to be useful So there has to be enough of a delta between how it’s performing now and how we think it can perform And then we have to have a seller who needs us as a buyer
CORWYN:
So for lack of a better way to put it we’re still playing matchmaker We’re still finding the person who okay Look, you’re my way out so to speak and in turn that still provides you guys an opportunity going in So I’m trying to find another word to replace Investing right? So with this type of platform I’m gonna use that word so I can think of something better of being really community focused and making a difference and changing The community for the better. Where do you see the true impact not only for the community? So that’s one but also for someone so that’s the front and that’s what you guys are doing What do you see for the tenants and residents in your communities? What do you see happen with them? Give us an example and then on the back end of that for the people who partner with you work with you to fund These type of endeavors what is the benefit for them for generational wealth and creation and wealth building?
AMY:
Yeah, that’s a lot. Okay, we’ll take it step by step and I’ll probably take us off track and you’ll get me back on track so for our tenants most of the time when we come into a property there’s been a severe lack of communication between The owner and the tenants for on whatever side it is. I mean, I don’t even care whose fault it is Like whatever it is, there’s miscommunication and people are not getting what they need so for the tenant side, it’s usually something like Tenants aren’t paying rent because their toilet hasn’t been fixed in six months or the pool hasn’t been filled since they in the last two years or Nobody is ever in the office So they don’t know who to pay their rent to or the property’s been deteriorating from a crime standpoint So when we’re coming into a property part of our due diligence is figuring out what are these tenants missing? And what do they need and can we provide what they need to get them back to paying rent? And to then fill up the occupancy and so we’re asking the tenants constantly and there are things that we can and can’t help out with the things that we can help with are things like We can get your toilet fixing again and we can fix that pool again So it works and we can reduce crime on the property if the crime is coming from the property We can’t fix the outer community. We’re going to only fix our individual community, right? So crime is coming out in from all over the neighborhood where we might not be able to help But if crime is coming from our property, we’re going to help we’re going to fix that So that’s the kind of stuff that we’re providing back to tenants What we’re not going to be able to fix is a tenant saying well we think that our rent should be slashed in half or we think that that we should have all these new amenities or We want if they’re looking for a different asset class or different type Like we’re not going to be able to come in and really make everything a brand new building because we have to keep it affordable Right certain things we can and can’t do and that’s what we can provide for the tenant and the community and for our investors Again, some people you get a lot of family offices or individual investors that really do care about Their investments making an impact in the world and they also want good returns and so for those people were able to Provide that outlet of putting your money in a place where you can feel good about the difference that you’re making And you can have returns and for some people that really matters and again, like I said for other people Maybe they’re philanthropic in their own ways and I don’t want this to be construed as what we do is philanthropy We don’t think of this as philanthropy tenants are paying us rent and we are making improvements Yes, we are being good human beings and doing the right thing But I don’t want to put us too high on a pedestal to say that we’re this isn’t philanthropy, right? We expect people to pay and that’s why I say I can’t help every individual tenant because if they’re not going to be able To pay their rent I’m going to be able to guide them to an organization that might be able to help them but ultimately I’m not going to be there to pay that rent for them And that’s why I’m saying it’s not philanthropy and we’re not helping every single individual. We’re helping the community So some people see want to say in their brain I do my good work over here, which is philanthropy and I do my investing over here Which is about me and money and there is not an interlink between and that’s okay That’s not my job to say that you’re right or wrong when you say that right? It happens to be just this amazing opportunity to do good things and make money But again, some people just want that return.
CORWYN:
That’s where we leave it So a focus of ours here is legacy. What do we leave behind for the next generation? That generational wealth is obviously a part of it, but wealth is beyond money You gotta leave what you guys are talking about Which is just being good human beings human becoming, you know One of one of our company leaders talks about human potential and instead of using the being we’re becoming we’re always becoming that better Should be becoming a better version of ourselves are better people. So amy I’m gonna ask you this question What does legacy mean to you as a woman leading an institutional level? Investment company in underserved communities. That’s heavy, ain’t it?
AMY:
It is. I mean the first thing I think about is our staff we come into lower income areas and we’re hiring locally in those areas and we’re often hiring people that in a very entry-level position and Nothing makes me happier than watching the people that we hire grow into higher and higher positions Doesn’t always work. I wish it always worked It doesn’t always work, but sometimes it works so beautifully where you can watch someone come in knowing very little about real estate Coming in and being you know an assistant an administrative assistant or a leasing assistant or something like that And then growing into be a leasing agent growing into being an assistant property manager growing into be a property manager And then growing into be a regional manager beyond that and that makes me so excited when it happens I want us to get better and better at fostering that so that it happens more and more often so something that we Strive for that to me is a legacy is leaving because that would be it changing the trajectory Of individual lives there. That’s something I aim for on the staff side on the tenant side Look, these are people’s homes This is where children are being raised and those children are going to grow up to be adults I focus on children because that’s where I feel like we the biggest impact is always made when you can Help a kid’s life be a little bit more stable and when we first walk some of these properties that we take over and I see like kids living with mold in their units or Carpet that has like nails coming up or there’s just like substandard living that just shouldn’t exist for kids But it’s not like basic That’s why I always say that our basic goal is safe and habitable and it seems like that’s such a simple thing But not everyone’s getting safe and habitable housing. And so that is just being able to provide that to kids I think is going to be a piece of legacy because those kids now grow up to be adults and they have a different Appreciation of things because they didn’t have to struggle in a certain way. Nobody should have cockroaches running through their apartments You just shouldn’t have to live like that And so if I can come in and help that make that better and I don’t want to do band-aid fixes I don’t want to come in and just pretend like we’re doing something. It’s not really going to make a difference Oh if we have a cockroach problem, let’s solve this cockroach problem right now If we have a mouse problem or a rat problem, let’s solve that problem And it’s not always easy to solve those problems, but let’s get it done the right way So to me those are small things But I see that as a legacy of trying to just make lives a little bit easier for people So then they have a better platform to jump off of that’s very fair
CORWYN:
So and we’re quickly getting towards the end of the show. So I want to do a couple things one I want you to put your information out here on air so that way people can reach out with questions get in contact with you Etc. So if you would do that, that would be amazing. How could we reach you?
AMY:
Yeah, our website is clearinvestgroup.com And it has all sorts of ways to get in touch with us And more about what we do and how we do it.
CORWYN:
All right And the next thing is a takeaway for people who are looking to quote unquote do well and do good What advice or what would you suggest they take away from today’s episode to help them to do that?
AMY:
I would say if it’s specific in real estate or maybe it’s in all sorts of forms of investment But I think if you have a clear vision of where you want things to go And you stick to that end goal a lot of times little things will come in the way and pull you aside from it and Even if they’re worthy things you’re not going to get to that end goal If those little things aren’t directly helping you go there And I think it comes back a little bit more to when I say We can help the community but not necessarily every individual Because sometimes things will drag you down. I tell my team this all the time We are coming into a property that has a thousand problems And if you deal with the 50 over here You might never get this property to be any better And if you deal with the 50 over there, you might not get this property any better And those are all worthy problems and those all those things might be solved But you’re not getting the property to actually get to a better place So it’s you can’t fix everything better Are you trying to get to and what are the biggest ticket items to get you there? And not allow some of the other distractions to let you veer off course And that is hard because you want to do everything, right? But you won’t get to the finish line. So I guess that’s my biggest takeaway
CORWYN:
Thank you because you I need to hear that because I literally just was having that conversation about those distractions the things that Will pop up and you give attention to and enhance you from the overall goal So thank you so much amy for reinforcing that for me on today So we quickly made our way here to the end of the show and I hate to let you go But I want to say first of all, thank you for taking time to be with us today You provided a wealth of knowledge and insight into This particular space and I want to say thank you for taking time to be with be here with us today
AMY:
Thank you for having me. It’s been a pleasure
CORWYN:
You’re welcome. So for our listeners guys, look, I want to encourage you all that have this in your heart in your spirit Otherwise in your plan to do take a look explore Deep dive into community focus or community first investment opportunities If this is your beast if it’s your animal quote-unquote if this is your jam If you have a question about legacy building about investing legacy investing If you will, please submit those questions to us here at the show for future episodes We’d love to address and not only answer your questions But hopefully inspire someone else with the answers that we give and that we deliver So again, amy, I want to thank you for taking time out today to be on with us I greatly appreciate it from the bottom of my heart. Thanks for being a part of exit strategies radio show family For our listeners y’all know how I feel y’all know what I say Y’all know is put two of those things together and I say it to you this way which is to tell you that I love you I love you. I love you when we’re gonna see you guys out there in those streets
