This week I wanted to (again lol) write something more on the side of investor psychology.
A lot of the time, our community focuses so much on the “how to make a bunch of money” part of real estate that we neglect the “why” behind our actions. Now I’m not trying to harp on being a softy, but in light of recent events going on in the media, I think it’s clear that happiness and purpose is not synonymous with wealth and a large number on your bank statement.
At the same time, let’s not pretend… all of us are in this real estate thing in order to make money, but to what end? So we can drive cool cars and work like animals? I don’t think so…I think there is more depth to the opportunity at hand than we realize and I want to bring it to light and have us discuss it.
How to Purchase Real Estate With No (or Low) Money!
One of the biggest struggles that many new investors have is in coming up with the money to purchase their first real estate properties. Well, BiggerPockets can help with that too. The Book on Investing in Real Estate with No (and Low) Money Down can give you the tools you need to get started in real estate, even if you don’t have tons of cash lying around.
The Conscious Business Model
So there is a lot of talk going on with companies like Wholefoods, Chik-fil-A, Starbucks and so on that exist as a for-profit entity, with a simi-non-profit attitude.
These are businesses that have been designed with a purpose, to solve some sense of problem in the world, and as such they are changing the way people do things. Today I want to talk about this model in the context of real estate, and real estate investing in general.
What is it to be an investor with a mission?
Do you have an opportunity to make a difference in this world in what you everyday?
I think so… here’s why:
We Have Influence On The Morale of Our Community
We as investors have the ability to buy those properties (apartment complexes especially) that no one else wants. We can take the ugly, high-crime nastiness of a city and help clean it up by renovating it, attracting higher-class tenants etc.
Depending on how involved you want to be, you could even help tenants in low-income areas get exposed to education, job opportunities, all kinds of things by hosting events, parties and so on.
The point I’m trying to make is that we as investors can and should, be a lot more like Michele Fischer and Al Williamson and really invest in our communities, not just in the property of those communities…if you caught my drift.
We really have an opportunity on our hands.
This world needs the affluent to make a stand and facilitate growth and vibrancy in the world.
What if you started hosting real estate classes in your local lower-income areas?
What if you mentored 1 person a year who wouldn’t others get the opportunity to see the things that are possible in real estate?
What if you intentionally bought a property in a rough area with hope to turn it around?
Below, I want to hear from you guys.
I really want this to be interactive.
How can we use our knowledge and our business to give back to the community?
Or if you already are doing something, what are you doing that others can gleam from?
Be sure to leave your comments below!