In this episode of Beyond the Resume, hosts Chris Papa and Lisa Flicker speak with AJ Jackson, President of Leo Impact Capital, about investing in the missing middle through naturally occurring affordable housing, mixed-income communities, and resident-centered operating strategies. AJ explains how Leo Impact Capital focuses on everyday working renters: teachers, first responders, service technicians, clerks, IT workers, and others who often earn too much to qualify for subsidized housing but still struggle to afford market rents in high-opportunity neighborhoods.AJ breaks down Leo’s investment approach, including the role of NOAH preservation, long-term affordability, social connection, rent reporting, credit building, tax abatement, sustainability investments, and partnerships with local nonprofits like The Lotus Campaign. The conversation also explores AJ’s career path from Capitol Hill and GSA to real estate development and impact investing, along with broader reflections on career exploration, mental health, leadership, hiring, mentorship, and why thriving communities cannot afford to lose the middle.Chapters(00:00) Meet AJ Jackson and Leo Impact CapitalAJ introduces Leo Impact Capital and explains the firm’s focus on financial mobility for everyday working renters through real estate investment, strong locations, and social connection.(00:54) Investing in the Missing MiddleAJ defines the “missing middle” renter: people who are over income for public housing support but still financially pressed by rent, transportation, healthcare, student loans, and other costs.(04:21) Solving the Housing CliffLisa connects AJ’s work to the benefits cliff, and AJ explains how mixed-income properties can create flexibility for residents as their income rises.(05:39) Charlotte, Credit Building and Resident ImpactAJ walks through Leo’s Charlotte investment, its partnership with The Lotus Campaign, units reserved for residents at risk of homelessness, and the power of rent reporting to help residents build credit.(11:39) Tax Abatement, Sustainability and NOAH PreservationThe conversation turns to tax abatement, energy audits, capital planning, and why AJ sees naturally occurring affordable housing as a critical but under-recognized part of the housing affordability landscape.(15:36) From Alabama to Real Estate InvestmentAJ reflects on attending the University of Alabama, beginning his career in politics, working at GSA, going to business school, and eventually finding his way into development and impact investing.(20:24) Career Lessons, Flexibility and Mental HealthAJ shares the skills that have shaped his career, including moving between big-picture strategy and small details, knowing where passion and talent intersect, and protecting energy, mood, and mental health.(25:54) Making the Middle InvestableAJ discusses the investment case for NOAH, the challenge of helping investors understand the asset class, and why stable, well-located, affordable housing for middle-income renters remains a major opportunity.(29:20) The Hot Seat: Books, Podcasts and HabitsAJ shares what he listens to, including The Rest Is History, Founders, and MeatEater, while reflecting on the patterns and habits that show up across successful entrepreneurs and leaders.(35:29) Hiring for Writing, Grit and Critical ThinkingAJ explains what he looks for when hiring: strong writing, entrepreneurial drive, hunger for the work, and the ability to think through problems rather than simply chase the “right” answer.(37:19) Mentorship, Purpose and the MiddleAJ closes by reflecting on the mentors who shaped his sense of purpose-driven work, win-win solutions, and why communities need the middle in order to thrive.--AJ Jackson, Leo Impact Capital, missing middle housing, naturally occurring affordable housing, NOAH preservation, impact investing, affordable housing, mixed-income housing, financial mobility
