How William Cooper Uses Housing Support Programs to Build Hope and Affordable Housing

Why This Conversation Matters

Affordable housing is often framed as a problem too big for any one person to solve. Yet on this episode of the Affordable Housing & Real Estate Investing Podcast, William Cooper shows us what happens when persistence, creativity, and heart meet opportunity.

William, a healthcare worker turned real estate investor in Solano County, California, didn’t just buy nine units—he turned them into a community hub for single mothers and families trying to get back on their feet. His approach with the Housing Support Program (HSP) demonstrates how landlords can build both wealth and hope, even while working full-time.

How Can Landlords Partner with Housing Authorities?

When William bought his nine-unit property in Vallejo, the previous owner connected him with Solano County’s Housing Support Program. Instead of hedging his bets with a few market-rate tenants, William made the bold choice to offer all nine units to the program.

• HSP pays 100% of rent for the first four months, then tapers down gradually to 0% by month 18.
  
  

• The model encourages tenants to transition into stable, independent living rather than remain indefinitely dependent on subsidies.
  
  

• By offering his whole building, William secured strong relationships with the housing authority and a steady flow of qualified tenants.
  
  

What Is the Housing Support Program (HSP) and How Does It Work?

Unlike traditional Section 8 vouchers, HSP is tiered to encourage self-sufficiency:

• Months 1–4: Government pays 100% of rent.
  
  

• Months 5–8: Support drops to 75%.
  
  

• Months 9–12: Support drops to 50%.
  
  

• Months 13–18: Support drops to 25%, then phases out completely.
  
  

William also covers utilities like water, sewer, and energy to give tenants a manageable transition into independent living. This makes his property a stepping stone, not just a stopgap.

How Did William Fund and Manage His First Deal?

William purchased the nine-unit property for $975,000, with an interest-only loan and a 10-year balloon structure.

• Renovation costs were modest, about $25,000 in the first six months, since most units had already been updated.
  
  

• Rents average $1,495 per unit, producing $35,000 in monthly positive cash flow even after insurance and operating expenses.
  
  

• He leveraged friendship-based capital, securing investment from long-term relationships rather than cold pitches.
  
  
  

How Do You Handle Evictions in Affordable Housing?

William has experienced both “cash-for-keys” agreements and formal evictions:

• In one case, he offered a tenant money to leave early, saving time and legal costs.
  
  

• In another, he admitted waiting too long to act, learning the importance of involving social workers early.
  
  

• With HSP support, landlords are reimbursed for missed rent and a portion of eviction costs, making the process less risky.
  
  
  

How Do You Build Community in Affordable Housing?

William discovered that by renting all units through HSP, tenants organically formed a support network.

One single mom helped another tenant learn how to use ZipRecruiter. That small act led to multiple residents finding jobs. William rewarded the helper with rent discounts, turning his property into a place where people lift each other up.

“I’ll give you $100 off rent for every tenant you help land a job. Good deeds don’t go unnoticed in this community.” – William Cooper

Key Insights from William Cooper

• Relationships drive real estate: Long-term friendships often open more doors than cold pitches.
  
  

• Incentives matter: Small rewards for tenants helping each other create stronger, more stable communities.
  
  

• Partnering with housing authorities reduces risk: Programs like HSP provide rent guarantees, eviction cost coverage, and ongoing case management.
  
  

• Cash flow is possible in affordable housing: With the right financing and management, William nets consistent positive income.
  
  

• Affordable housing requires courage: From facing drug dealers on his property to pushing through personal health struggles, William shows resilience is non-negotiable.
  
  

Best Quotes from William Cooper

• “I’m basically the junior varsity landlord. My job is to help people step up until they’re ready for the big leagues.”
  
  

• “Cash for keys will often cost you less than an attorney.”
  
  

• “I don’t have a Rolodex of millionaires. I have friends I’ve built relationships with, and that’s enough.”
  
  

• “Affordable housing isn’t enabling. It’s building.”
  
  

• “If you want landlords to participate, you have to support them, not fight them.”
  
  

Common Questions This Episode Answers

What is the Housing Support Program (HSP)?
A Solano County initiative that subsidizes rent for 18 months, tapering support to encourage tenants toward self-sufficiency.

How do landlords get paid in affordable housing programs?
HSP guarantees rent payments during the subsidy period and can reimburse for missed rent during evictions.

What happens if a tenant stops paying rent?
With HSP, the government covers missed rent during program participation and may cover eviction costs.

How can landlords reduce eviction risks?
Act quickly, involve social workers early, and consider “cash for keys” as a faster, cheaper alternative.

Can affordable housing investments be profitable?
Yes. William cash flows around $35,000 monthly while providing safe housing for families in need.

Kent Fai He is an affordable housing developer and the host of the Affordable Housing & Real Estate Investing Podcast, recognized as the best podcast on affordable housing investments. By showcasing stories like William’s, Kent proves that affordable housing is not just a financial opportunity but also a chance to transform communities.

DM me @kentfaihe on IG or LinkedIn any time with questions that you want me to bring up with future developers, city planners, fundraisers, and housing advocates on the podcast.