Investing in assets like real estate has always been about making money either through renting properties out and making a monthly cashflow, flipping them for quick profit, or through appreciation over time. Rarely do you see people using real estate as a vehicle to provide more than just a roof over someone’s head. Since the beginning of time, shelter, or real estate has been a core foundation of our basic needs as humans. Everyone needs a place to rest their head at night … even people who have made mistakes or who have special circumstances that require them to live a specific way.
Let’s look into this a little deeper … let’s say someone committed a non-violent crime and went to prison. He or she now spends time incarcerated and when he or she gets out, will need a place to live. But when people are released from prison, not only do they lack financial resources to pay for a place to live, but they also have a criminal record attached to their name, so finding a safe place to live and passing a background check becomes an issue. That’s where we, as educated investors, can come in and change the trajectory of their lives. Just because they made a mistake, doesn’t mean they can’t change or aren’t deserving of living in a safe home.
If that population doesn’t speak to you, how about neglected and abused children? If children are in households where they’ve been abused, they may end up in foster care. When in foster care, they have a chance to be adopted but if they are not adopted by the time they’re 18 years old, they are usually released and on their own. If an 18-year-old ages out of foster care and has siblings who are still in foster care, they will either take responsibility for their siblings, or will be separated from them. What if you could be the housing provider who keeps that family together? Keeps the younger kids with their older siblings by providing a safe home for them all to live in.
Social housing is a form of shared housing with an emphasis on bettering the lives of its residents for the greater social good. Social housing strategies include short term rentals and student housing and extends all the way into group homes and assisted living facilities. The populations we serve are always growing and are how investors who want more than just cash, can really maximize their return on investment by investing in other people.
We structure the deals several different ways and depending on where you are geographically located, you may be able to tap into local resources for funding, support, furnishings, and other critical resources you may need when starting your first home.
For more information on how to get started, visit our website. We even offer mentoring in this area.
Big picture takeaway points
Self-reflection questions to think more about the content
Legacy’s Building Wealth Club offers you the financial education needed to pursue your goals. Let our education and experience lead the way!