Positively Impacting Other’s Lives While Investing in Multifamily

[Rick Martin]

It’s true. Investing isn’t all about impacting our own lives. It is also about positively impacting the lives of others as well.

Let me start by saying I can be a bit cynical. It’s part of my sense of humor; not sure where it came from, maybe my dad, I don’t know, but it is there. It is good to have a bit of skepticism. You don’t want to look at everything through rose-colored glasses, but to overburden yourself with cynicism can be counterproductive. Regardless, call me suspicious when I would hear others say, “Real estate investing for me is all about positively impacting communities.”

My cynical self would say, right buddy, it's all about the Benjamins to you. To a degree, it is all about the Benjamins for us. It is about securing the security and time-freedom to do what we want when we want, with whom we want. Having that freedom is so rewarding, but gratification can grow exponentially when we go beyond our immediate circle.

I was struct with that feeling, as we were doing due diligence on over 160 units on our last property. As we walked and checked each unit's condition, we were literally walking through our tenants' day-to-day lives (with masks btw). They were decent, hardworking people. Their children were hard at work, doing their remote schooling. These people deserved a safer, cleaner environment, and property management that would respond to their needs and swiftly take action when items were in disrepair.

For a minimal rent increase, the community is going to infinitely improve – I know that. We are positively impacting people's lives while securing our own futures; it is truly a win/win. And I am not just blowing smoke. Even my cynical side agrees.

[Joe Splitrock]

@Rick Martin I agree with you. Landlords think they are doing tenants a favor by never raising rents. In reality when landlords never raise rents, they also never improve the property. Then one day they sell the distressed property to a new landlord that has to renovate and raise rents. This often displaces tenants. In the end, by not improving and raising rents, a landlord creates a worse situation.

We take pride in providing nice homes to good people and families. We built a reputation on that. I don't believe you can build a sustainable business if you are only chasing a quick buck.