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The Ripple Effect of Real Estate Rehab

Great progress is being made in a country climbing hand over hand out of an economic hole. Once the picture of failing economy, now an opportunity. The American crime rate has set people to reaction mode, and when people are on guard, people react. That is human nature, a breeding ground for human error, and for intentional & unintentional effect of anger. Chicago, has set amazing precedence, as desperate communities have turned fight into passionate resolve. Anger fuels passion, and passion begets positive energy with a powerful force. Revitalizing areas of economic decline is setting course, not just for Chicago's economic success, but also for the ripple effect reaching beyond the edges of our Nation. Real estate rehab projects provide tangible, visible cause for resolve, and inspiration.

 

When Real Estate Ownership Is Unreachable

We all have come to cherish active investors and developers. Because, while ideal, homeownership just isn’t attainable for all. Affordable housing, whether it be by ownership, or rental is imperative. Innovative development clearly benefits the respective investors, while also enriching the lives of the renting population, at a level unattainable on their own. St. Bernard Hospital partnered with the city of Chicago and Chicago Neighborhood Initiatives to concern itself with more than the medical health of the community. Collectively, they built Bernard Place, a 70 unit affordable housing development at 64th Street and the Dan Ryan Expressway.

 

Beautification Inspires All

Even those who merely pass by, whether they realize it, or not, are changed. Who wouldn't stand to look long at the second tallest skyscraper in Chicago; Donald Trump's Trump International Hotel & Tower? From building & commerce of all sizes, communities grow. When the plan of builders even reaches inside those communities to enlists at-risk youth as part of the build, passion with direction and vested interest in the ripple effect, opens doors. real estate rehabThrough organizations, like YouthBuild, those, potentially at war with themselves and each other, are guided by the  “Each One Teach One" philosophy instead.

I have seen no greater hold than a group of people banding together after a natural disaster. Unbiased gratitude for those who were gifted the opportunity to help, no matter their race, background, or station in life. Crisis is the great equalizer. Economic crisis can inspire the same ripple effect to a community, as can the relief of its rise. Chicago is the current state poster child for hope, inspiration, and crisis resolution.

Related: Community Collaboration On The Table

 

What Could Start the Ripple?

We all know the “Pay it Forward” concept, and how it applies to very simple encounters every day. One exchange can be a droplet of input that ripples into wider reaching change. Rewind a moment, & replay to the origin of the first ripple, we not surprisingly, circle back to real estate rehab projects. Where an investment in real estate changes lives and strengthens communities. One small or large drop in the ocean, materializes into ripples of positive individual and nation-wide inspiration.

Real Estate RehabThis week, I asked several people in neighboring communities “What would have, or still will, change the course of your life? What would give the nation’s children a better chance to thrive?” Worded in varying dialects, the answers were the same: “Home.” A functional place to be proud of.  ~ Shelter, that doesn’t, through disrepair, serve as a constant reminder of what one doesn’t have. Too many people live precariously in buildings that by most standards, are too hazardous to be occupied.

The Green Healthy Neighborhoods proposal has added yet more weight to Chicago’s original drop of reworking communities. Adding parks and green streetscapes to lure creative investment and new development to Chicago’s South side. Whether destined to seek full funding from HUD's Sustainable Communities Initiative, or combined private funding, the potential of increased pride in community & positive economic forecast is great.

As we each continue to collaborate, a natural & common thread links us back to origin of progress. Funding, building, remodeling & re-purposing of real estate. Such a natural inclusion to the solve of pain of all people. Crime & poverty can be mere thunder, preceding the dawn of a good rain. Real estate rehab is is part of that relief, well orchestrated. Familial community, crossing barriers of cultural & financial limitation is the natural result. We can thank the soon to be un-impoverished, for the motivation, and the real estate investors for the corrective reality. The wide-reaching ripple effect, of community pride restored, including investor's gain, begins with just one drop.

Related article: Doing Well While Doing Good

How else do you think real estate rehab can cause a ripple effect in society? Or do you even think community restoration has a positive effect at all? Leave a comment and let us know your thoughts.



If you want to learn more, take a look at some of the most commonly asked questions we receive about real estate crowdfunding on a daily basis and find out why so many people are crowdfunding real estate projects across the country with Patch of Land.
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One thought on “The Ripple Effect of Real Estate Rehab”

  • David Poynter

    David Poynter commented March 22, 2015

    Ms. Perkins,
    I've been interested in the Patch of Land concept for some time. I appreciate the articles you've written, this one, for instance, with descriptive examples in the form of analogies such at the "ripple effect" and "paying forward" which are punctuated throughout the article. I especially appreciate the broad scope of your examples, such as Bernard House. It's easy to imagine that low rental housing might be a purely philanthropic effort, but I think that the beautification and refurbishment of real estate can be a worthwhile effort toward a profit motive. Your articles are descriptive and colorful. What I'd like to see is an example, perhaps in first person, depicting an individual's experience as he invests and realizes not only the personal satisfaction of doing good, but a monitory return on his investment as well. I look forward to your future articles.

    To answer the question: I believe the ripple effect is a perfect analogy of a project getting off the ground with the initial effort of one person or group. I'm comparing it to the establishment of a neighborhood watch from my own, personal experiences.

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