There are many ways to practice socially responsible real estate investing. In this article, I will describe what I believe to be the best way to invest in real estate in a socially responsible way.
I meet all kinds of people, many of whom are less than charitable when they learn that I own rental property and also sell houses and RVs. I often find myself disagreeing with these same people about what socially responsible real estate investing means. For some strange reason, many people are predisposed to look down on those who engage in such capitalist ventures. Often these are the same people who take advantage of one or more of the many government programs that support my tax dollars.
This is what I mean when I talk about socially responsible real estate investing.
I’m a man of my word, so when I say I’m going to do something, I do my best to do it. This applies to offers I make on property, promises I make to tenants, and agreements I make with contractors and service providers. In my opinion, there is no more powerful way to engage in socially responsible real estate investing.
Being a real estate owner and investor makes me a productive member of my local economic community. I strongly support and add to the tax base and help provide healthy lives for many real estate agents, contractors and service providers. I also bank locally and contribute to my local real estate investor club. These are all great ways to make socially responsible real estate investments.
Additionally, I provide clean, safe, and affordable housing to various tenants, including children and seniors. I also provide housing to low-income individuals through HUD’s Housing Choice Voucher Program, also known as Section 8. Providing this type of housing is another powerful way to practice socially responsible real estate investing.
There are those who believe that in order to practice socially responsible real estate investing, it is necessary to provide free housing for the poor they serve. I do not agree with that assessment. The Bible says, “The laborer is worthy of his wages,” and that certainly applies to property owners. I commend those who choose to be charitable, but I don’t think it should be legislated. It has to come from the heart and be backed by a consistent practice of sound business principles.
That attitude and the underlying economic practices are the reasons why the United States of America has been and continues to be the most charitable nation on the face of the earth. Practicing socially responsible real estate investing is not the result of some feel-good hokum, but rather the application of wise investing habits and moral consistency.
Now go make more offers!