Someone asked me this question the other day and we started talking about it and the conversation went in a direction I didn’t anticipate.
We put a lot of time and effort in to RDI and it’s pretty much a “nonprofit” enterprise.
What do we get out of it then, if it’s not money?
We do get some direct business out of it, but not really enough to justify the resources spent. Of course, you can increase your referrals to us at any time, we’ll take them!
So, then why do we do it?
Why does Jerry Lewis do his telethon every year for free? Why do average people volunteer to help out schools and churches? What do they get out of it?
They get to make a difference, that’s what they get out of it.
That’s what we’re trying to do with RDI – make a difference in the Detroit area through real estate.
As housing goes, so usually does an area’s pride and economy. You can see that vividly in the city of Detroit. In some areas, great brick houses, solidly built in the 1920’s for the wealthy at that time, sit vandalized or deteriorating if they’re occupied. Those same type of houses in other parts of the city, are well kept and preserved.
Investors can make a difference by providing clean, maintained properties – whether flipping or renting. If enough money is invested in a neighborhood, its character can be changed and it will reflect directly on how the area looks. Coincidently, when this happens values also increase, so the investor is rewarded for their efforts.
Do we need RDI to flip or rent out houses? Not really. We could actually use the time we spend on RDI to focus on doing more transactions.
We invest our resources in RDI to LEVERAGE our efforts to make a difference. If we can help novice investors to be successful, we get to multiply our efforts to improve Detroit area housing. The more neighborhoods positively affected, the better it is for all investors. “A rising tide lifts all the ships in the harbor”, is a great quote that aptly conveys this concept. What we each do can help all of us, at no additional cost.
So, keep all of this in mind when you read our blogs and newsletters, visit our networking site, and attend our events. Then remember to spread the word and “pay it forward” so we all benefit that much more.
Drew Sygit is President of The Lending Edge and holds mortgage industry designations CMPS, CMC, CRMS, CMLO, CALO, has an MBA and is an approved industry instructor. He’s spoken for HUD, has written numerous articles and is a mortgage industry advocate for loan originator licensing and consumer education. He can be reached at 248-356-3739, dsygit at TheLendingEdge.com or read his blog: Drew’s Mortgage News