POWERED BY PLACE Neglected to New: Flipping Down South Spotlighting PLACE Partners’ Feel-Good Mission
A&E’s latest remodeling show spotlights unwavering commitment by PLACE’s Cody J. Cummings and Paul Mielke to reviving Alabama communities
Alabama communities like Birmingham are dotted with unlivable properties — ranging from historic mansions to one-bedroom homes — resulting in hundreds of house fires and millions of dollars in property losses. In response, Birmingham is demolishing hundreds of properties across 99 neighborhoods (with more planned) to address years of citizen concerns. PLACE Partners Cody J. Cummings and Paul Mielke decided to approach the problem with a novel solution, revitalizing abandoned properties and returning them to the community at a fair price. Their mission impressed the A&E television network so much they invested in the journey with a national home-improvement show “Flipping Down South.”
Before the duo’s collaboration, Cummings’ expertise was in single-family real estate; collaborating with Mielke opened up new investment possibilities. Leverage from operating their respective real estate teams, The Apollo Property Group and Monroe Park Homes, powered by PLACE, allowed them to pursue a second income stream through their partnership. “When you’re an agent selling and selling, you have to keep the cash flow going, so it’s hard to step back and find profitable investment opportunities,” Cummings says. “The solution to that problem was partnership with another agent. Our businesses are profitable, but they could always be more profitable, which
“The show is about taking homes that have been abandoned — left to rot — and giving them back to the community. We focus on that $100-220k price point, providing nice homes to working-class people and protecting the dream of homeownership.” — PAUL MIELKE, OWNER/OPERATOR, MONROE PARK HOMES
turned us toward another strategic partnership with PLACE.” DOING GOOD WHILE MAINTAINING A PROFIT
The pair discovered their dedication to affordable housing presented a challenge. The price point is lower while overhead is unchanging, so volume must rise. Challenges to their mission arose. Case in point: accept a firm’s quick cash offer for a classic 1915, Tudor-style home, or sell it to a single homeowner with a lower offer. While there aren’t many cash offers in affordable housing, there are plenty of contracts falling through. There are also people struggling
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