NOV 13, 2021
I don’t like being told what to do, especially if it involves changing myself. I like being in control of my desires, I’m uncompromising and selfish. I have a huge appetite for risk and am put off by people with little ambition. My traits are a byproduct of my upbringing (but also probably my youth lol).
Last week, I wrote about how coming to terms with my good & bad qualities helped me get a grip on the direction I wanted to head in life 2 years ago. I hadn’t figured out what I truly wanted — but hey, I wasn’t aimless anymore.
With this clarity, and luck, I stumbled into real estate.
Putting money into real estate is easy, because it’s pretty easy to spend money. However, making a profit by allocating your capital in RE is the $1M question. I enjoy REI because it’s an asset I can touch — I have more control, and it provides a basic human necessity.
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Fast forward to COVID-era 2020: While interviewing possible tenants, I come across an application of a man (call him Dave) who fell below my credit criteria. I initially passed, but my agent relented because Dave had good work history; what did I have to lose on a call anyways?
Weird how our small choices end up becoming the largest catalyst in our lives.
My call with Dave was surreal. As I probed his background, Dave opened about how it was difficult for him (a new immigrant) to find decent housing for his family (wife & 2 girls). The hurdle immigrants face isn’t their work record, but the lack of a credit score/history. Dave had been in the country for a couple of years and had only been able to qualify to live in ‘urban’ areas of his city; not the best places for kids.
The lightbulb in my brain started flickering.
I realized that by approving Dave’s application, I was positively affecting the trajectory of a family’s life, while profiting. It was magical! Violins were playing, fireworks were exploding, I had goosebumps. Holy shit, I figured out what I wanted to do for the rest of my life: help people like Dave & his family access good housing.
The more I thought about it, the more my purpose morphed into figuring out how I could scale faster. My internal compass pointed towards investing in CRE - why spend hours buying a of house when I could buy an apartment building with the same time?
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Below are my Why and Just Cause statements, the closest things I have to my organization’s mission statement so far:
Why: To make the world a better place than yesterday.
Just Cause: Build a world where my residents have a safe, fulfilling, & empowering space to positively affect the life trajectories of their families.
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It’s weird having clarity about my life’s purpose at this age. Most people around me are still figuring things out. I got lucky — I have my youth and risk appetite to make bold moves because if I lose everything now, I can bounce back. I struggle with moderation: I get lost in my sauce because I have too much fun going down the rabbit hole, I tune out everything else. I’ve learnt, from other entrepreneur buddies, it’s a necessary evil & sacrifice that comes with the territory.
