Garnaco Group Expands Its Pathway to Home Ownership Program to Create More Affordable Housing

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Garnaco Group has committed to redevelop 100 houses in 2021—twice more than it did during 2020—and 500 homes through 2025. The program expansion will provide much-needed, affordable housing for families to rent and own while positively impacting local communities.

Garnaco Group is pleased to announce a significant expansion of its successful Pathway to Home Ownership Program, which provides working families with access to good-quality, affordable housing to rent and own. The affordable housing program has committed to redeveloping 100 abandoned and/or under-maintained homes in Western Pennsylvania in 2021 and a total of 500 homes through 2025—representing a $25 million investment.

The homes that will be “bought back to life” as part of the massive undertaking will be made available for low- to middle-income families to purchase through the Pathway to Home Ownership Program. The broadening of the affordable housing program is an ambitious endeavor, considering that Garnaco bought 45 houses in Western Pennsylvania during 2020. The company has been operating the Pathway to Home Ownership Program since 2019, so the commitment to provide even more affordable housing will be a major challenge. However, it is one the company is excited to take on, given the need for such housing and its impact on people’s lives and communities as a whole.

“Home ownership is the biggest barrier to economic stability for American families,” explains David Garner, CEO of Garnaco “By providing these families with access to the long-term social and economic stability and growth that home ownership affords, we are rebuilding American communities one house at a time.”

The implications of Garnaco’s business activities are immense. Millions of working families are stuck in a toxic cycle of housing poverty, often spending more than 30 percent of their income on housing to live in sub-standard, under-maintained rental property. It is difficult for them to pay down their debt, improve their credit score, or save a meaningful deposit. Consequently, they are unable to qualify for home loans from most banks and other institutional lenders. “This, combined with a lack of quality houses to buy under $150,000, creates a real problem,” Garner says.

While Garnaco is enhancing the plight of low- to moderate-income families, it is simultaneously working to put slum landlords—property owners who notoriously skimp on maintenance to maximize profits—out of business. Garner explains: “We are capitalizing on the availability of discounted assets, typically buying homes from slum landlords, and creating good-quality, affordable housing that we help working families buy using a range of buyer assistance tools such as rent-to-own and seller financing.”

In addition to providing better-quality, affordable housing for individuals to lease and buy, Garnaco also serves the needs of investors. For the private investors that facilitate funding acquisitions, the company provides a reliable, stable, and secure investment opportunity for their IRA or 401(k). “We offer a simple, fixed-term loan note secured against individual real estate assets within our own portfolio, with a first-lien position and fixed monthly interest rate at 9 percent per annum,” Garner says. “We leverage our real estate assets to drive their returns, with predictable, monthly interest income, secured against real estate, while making a real difference in the communities we are investing in. That’s conscious capitalism in action.”

With its very precise business model, Garnaco holds a distinctive position in the real estate market. There are few companies operating in its space because deals are small and margins are thin. However, this is the end of the market where it is needed most, Garner maintains. “The ripple effect in the economy and society is immense, as families are able to put down community roots and accrue wealth through equity and amortization,” he says.

For more information about Garnaco’s affordable housing program and investment opportunities, visit or contact David Garner at

About Garnaco Group
Founded in 2016, Garnaco Group operates with a clear and distinct purpose: to rebuild communities by making home ownership affordable and accessible for working families. CEO David Garner, who has been investing in various aspects of real estate since 2010, created the Pathway to Home Ownership Program in 2019 to provide low- and middle-income families with a valuable opportunity to enhance their economic stability. The critical affordable housing program is helping participants establish community roots, accumulate wealth, access credit, and take ownership and responsibility for their own future.


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David Garner, CEO
Garnaco Group
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