We often talk about wealth building as the most attractive part of being a multifamily investor. But there is great responsibility in this business. As active syndicators, we serve two very important stakeholders: investors and residents. Unfortunately, most content is about the former, and not enough discussion exists about the wonderful service we get to offer the community.
Communities We Serve
So what about the communities? To start, residents depend on apartment owners for safe housing and healthy living. It is expected that owners and property management are acting ethically and in the best interests of residents. It’s not like they are living for free. In exchange for rent, residents expect a safe place to live prompt maintenance support and friendly customer service. Unfortunately, this is not always the case. Just read some apartment reviews. Pictures don’t lie.
So what is the point? I believe that in order to truly be successful as an active syndicator, one cannot be in it simply for the money. There is too much on the line to not have a mission behind the business. Too many people – investors, residents and more – depend on you. Depending on his or her mindset, this is either a blessing or a burden.: “I get to own hundreds of units that provide housing to people and families” or “I have to own/manage hundreds of units and people.” Same situation, two different perspectives, all the difference.
What about Passive Investors?
Passive investors seek to put their investment capital to work while they do other things outside of investing. Naturally, their primary goal of the investment is financially-focused. However, any passive investor commitment to a syndication should be built on trust and shared values. Those values may and should include honest and ethical behavior, a commitment to the community and a desire to help others grow and succeed. When passive investors find sponsors and investment opportunities that support those causes, they win both on the financial front and on the community impact.
If you are a passive investor, I encourage you to spend a disproportionate amount of time on the “who” of your next investment. That is, getting to know your sponsor and what is his or her mission behind the business. Check out our free Passive Investor Startup Guide to help you take your next step. Finally, contact us to learn more about our investment firm, Robinson Capital and our mission.
💡Invest Your Retirement w/ eQRP
– How To Use Your 401k To Invest In Real Estate
