When a fix and flip or rental investor buys property, the investor often has an eye toward. For instance, fixing up an older home may improve property values on the entire street, putting homeowners in a more secure financial position. By providing affordable SFRs, real estate investors can help attract hardworking families to a community. But you can do even more if you know where to look for opportunities to make a difference.
1. Join Local Networking Organizations to Find Opportunities to Serve
Networking through your local Lion’s Club, Kiwanis Club, Rotary Club, and/or Chamber of Commerce is not just a good way to meet local business owners. These groups often organize food drives, clothing drives, and toy drives during the holidays. They may also partner with local scouting organizations, such as Boy Scouts of America and Girl Scouts of America, or school clubs to host fundraisers to give to those in need or find ways to improve the community.
The same applies for MeetUp groups and local chapters of hospital organizations like the Ronald McDonald House Charities. The key here? Together, a group can do so much. Joining one of these organizations allows you to make a positive impact with a time investment of only a few nights each month.
2. Support Your Local Schools
PTAs (Parent Teacher Associations) and PTOs (Parent Teacher Organizations) hold basket auctions and silent auctions that require donations. These groups also host fundraisers that could benefit from increased community involvement. Whether you donate a gift card to an Auction Night, buy chocolate from a middle schooler, or post flyers in your multi-dwelling unit about a fundraiser taking place at a local restaurant, your efforts can make a difference.
Find out how you can help by joining your community’s Facebook page(s), calling local schools, or asking parents you know within the community.
3. Get Your Tenants Involved
As a local investor, you have a powerful voice and the means to reach large groups of people. If you have tenants who are interested in community service, consider working with them to spearhead a community clean-up or beautification event. You can pick up trash on the blocks surrounding your MDU or in a local park, or spend a day beautifying Main Street with flowers or holiday decorations
If your town has a food pantry, put a collection bin in the lobby of your MDU and ask tenants to donate one day a week. Most pantries need canned goods and other non-perishable items, as well as household goods (like paper towels and toilet paper) and toiletries. If your town doesn’t have a food pantry, consider working with your local networking organization to start one.
Give Back, Get Back
Good deeds are often their own reward. But investors who make time to get involved in the communities where they do business can also raise their own profile and visibility. Those in the public eye are more likely to recruit tenants for their MDUs and SFRs through word-of-mouth. Millennials, specifically, may look to reside in a building whose tenants have a strong sense of community involvement. Homeowners looking to sell their homes for cash may also come directly to you—someone they recognize as a professional who cares about the neighborhood. (That’s not to mention the .)
It is not hard to find opportunities to “invest” in your community year-round if you know where to look. Make community involvement part of your investment business because it’s the right thing to do, and you will also reap the rewards of increased visibility. Most importantly, you will build greater trust from potential tenants, your professional network, and the community as a whole.