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In this episode of the Next Level Income Show, I sat down with Mat Simmons, founder and CEO of Sim Capital, to dive deep into one of the most complex and often misunderstood topics in real estate: affordable housing, and more specifically, the Section 8 program. What followed was a powerful, eye-opening conversation on how the system works, where it’s broken, and what both investors and policymakers can do to make it better.
Mat started his journey in real estate almost 20 years ago, cutting his teeth on Section 8 housing. He admitted it wasn’t easy and even warned that it’s not a space for beginners. “I shouldn’t have done Section 8 from the very beginning,” he said. But over time, those hard-earned lessons shaped Sim Capital’s unique approach — and positioned his firm to manage over $400 million in real estate today, much of it focused on affordable housing.
One of the biggest takeaways from our talk was how outdated and underfunded the Section 8 system really is. Mat shared that despite increased funding, there’s still a massive shortfall — to the tune of $3 billion. That means people who qualify for housing support often wait years to receive vouchers. And even when they do, the program itself can be manipulated by both tenants and vendors, creating even more inefficiencies.
But what really stood out was Mat’s perspective on long-term impact. “Section 8 shouldn’t be a forever program,” he said. Instead, he advocates for a time cap on benefits, combined with education and career training to help recipients lift themselves out of dependency. Imagine a system that doesn’t just provide housing, but offers a path to financial freedom.
We also tackled the broader affordability crisis. The conversation moved beyond policy and into economic reality — interest rates, housing cycles, and the true cost of building. The truth is, it’s nearly impossible to build truly affordable housing today without some form of subsidy or incentive. We discussed how public-private partnerships and tax abatements can help bridge the gap, making developments viable for investors while serving the people who need it most.
Mat sees the next few years as critical. With mortgage rates potentially trending down but supply still limited, prices could spike again — worsening affordability for first-time buyers and renters. That’s why his firm is doubling down on both value-add multifamily and affordable housing strategies.
At the end of the day, this episode was about more than investing. It was about rethinking systems, creating real impact, and understanding that solving the housing crisis will take both innovation and compassion.
If you’re an investor looking to make a difference — or just trying to understand what’s really going on in the housing market — this episode is for you. Check it out, and let’s keep the conversation going.
Listen To The Podcast Here:
Meet our guest:
Bio:
Mat Simmons is the founder and CEO of SIMM Capital, a real estate investment firm headquartered in Wexford, Pennsylvania. With a career in real estate beginning in 2006, Simmons has cultivated a portfolio exceeding 4,200 units, focusing primarily on value-add multifamily properties and affordable housing initiatives across various U.S. markets. Under Mat’s leadership, SIMM Capital has emphasized investments in affordable housing, particularly through the Section 8 program. The firm targets single-family and smaller multifamily properties in key markets across the country aiming to have these properties cash-flowing within 30 days of acquisition. This strategy not only addresses the affordable housing shortage but also provides investors with stable, government-backed rental income. Mat is also recognized for his educational efforts in real estate investing. He shares insights through various platforms, including podcasts and webinars, discussing topics like the benefits of Section 8 housing and strategies for successful property management. His approach combines practical experience with a commitment to addressing housing needs, positioning SIMM Capital as a notable player in the real estate investment landscape. For more information, visit simmcapital.com or connect with Mat Simmons on social media platforms.
Contact Mat:
Website: https://www.simmcapital.com/
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Christopher Larsen is the founder and Managing Partner of Next-Level Income. Since “retiring” after 18 years in the medical device industry he dedicates his time to helping others become financially independent through education and investment opportunities. Chris has been investing in and managing real estate for over 20 years.
While completing his degree in Biomechanical Engineering and M.B.A. in Finance at Virginia Tech, he bought his first single-family rental at age 21. Chris expanded into development, private-lending, buying distressed debt as well as commercial office, and ultimately syndicating multifamily properties. He began syndicating deals in 2016 and has been actively involved in over $500M of real estate acquisitions.
In addition to real estate, Chris has invested in equities, oil & gas, and small business lending, as well as being active in Venture South, one of the nation’s Top 10 Angel Investing groups. Chris lives with his wife and two boys (and Viszla, Lucy!) in Asheville, NC where he loves spending time with them in the outdoors and enjoying the food and culture that the region has to offer.
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