Real estate investment is often lucrative, but it doesn’t have to be purely self-serving. Investors often wonder how they can use their profit to improve their community. With the resources at their disposal — both financial and otherwise — they’ll find a wealth of opportunities. So where should they start?
Here are five ways that real estate investors can give back to their communities, making their little corner of the world a better, brighter place.
1. Support Habitat for Humanity
What better way to support a community than by volunteering with Habitat for Humanity? They make it easier for low-income families to purchase a home by seeking help from local businesses, asking for volunteers and supplies. Those that have the time can pick up a hammer or saw and get to work on a new build, participating in a project with other like-minded altruists.
For investors who don’t have time to volunteer, or live outside of the community where they’ve purchased property, donations are another way to show support. Since Habitat for Humanity is a nonprofit organization, the assistance of businesses and individual investors is incredibly important, no less valuable than labor.
2. Find an “Adopt a Brick” Campaign
When a community builds a new civic building or public facility, it’ll sometimes launch an “adopt a brick” campaign to raise funds for the new project. This can be a fantastic opportunity for real estate investors to give back to their community while building their brand and getting a bit of positive publicity.
That said, these campaigns don’t happen very often. They’ll pop up for six months or a year when a new civic building or facility is under construction, then vanish once the funding is no longer needed. If they do occur, it can be a phenomenal way for real estate investors to provide support.
3. Work with Vulnerable Community Members
Not everyone in a community is able to purchase a home or invest in property. One way real estate investors can give back is to work with vulnerable members of that community, such as veterans who are transitioning back to civilian life. Many of these individuals have a strong work ethic and are an ideal hire for contractors or project managers. This is also true for investors who do most of their work remotely.
By helping veterans, real estate investors can help them start a new career after their time in the military, something that can be challenging for veterans who were deployed. These positions give them the ability to secure their finances and create a stable civilian life for themselves and their families.
4. Volunteer Your Skills and Knowledge
Becoming a successful real estate investor isn’t an easy task. It takes many different skills, with knowledge of budgeting, marketing, sales, advertising, and planning. An investor can volunteer their knowledge and skills by helping others learn more about real estate and the nuances of this ever-changing industry.
This strategy isn’t entirely altruistic, of course. By volunteering their skills, real estate investors are creating a network that can help their bottom line. The people they teach will likely help them in turn by supporting them and growing their business.
However, when an investor volunteers their time and skills to teach others, they indirectly support the local economy and encourage others to strive for success in real estate investment.
5. Donate a Portion of Profits to Charity
This particular method is pretty straightforward. Nearly every town, however small, has local charities that feed directly back into the community. For investors that are looking for a way to give back, but aren’t sure where to start, donating a portion of their profits to nonprofit organizations can be an easy and relatively simple way to help those in need without contributing an enormous amount of energy and time.
To start, real estate investors should look for charities that have a significant impact in their area, searching for organizations that funnel the majority of their donations to the community.
How Real Estate Investors Can Give Back
Investors should make it a priority to give back to the communities where they purchase properties. When they follow one or more of the five suggestions above, they’ll find it’s easy and rewarding to donate their time, energy, money or skills. They should start by seeking out local organizations, whether it’s an “Adopt a Brick” campaign or volunteer opportunities with Habitat for Humanity. Investors can also help the vulnerable members of their community, including but not limited to low-income families and veterans who are transitioning back to civilian life.
In truth, these same communities that investors are helping have given them the opportunity to build a successful career in real estate. It only makes sense they would take time to return the favor.
This article has been contributed by Holly Welles from The Estate Update.