Reports of loneliness in the US are at an all time high, with over 53% of apartment residents stating that they don’t have friends within their complex. Let’s talk about how we can help. 👉👉Learn About Our Fund Opportunities With Apartment Life - https://www.vonfinch.com/fund In January 2020 MPR released a study that showed over two thirds of Americans are lonely… but what’s even worse, is that during the pandemic this number has risen to 76% according to TIME Magazine. With reports of loneliness in the US at a staggering all time high, we have to ask the question: How can apartment owners make a bigger impact within their community that also makes them a profit? This is where Apartment Life comes in. Apartment Life helps apartment owners care for residents by connecting them in relationships. This, in turn, helps improve the community's financial performance through online reputation, resident satisfaction, and resident retention. So join me on this episode as I take a deep dive into how we can make money and make lives better all at the same time. Hit subscribe to join the Investor Mindset community and let us know in the comments below: How has the community impacted your decision to stay in the building, area or neighbourhood that you’ve been living in?
Reports of loneliness in the US are at an all time high, with over 53% of apartment residents stating that they don’t have friends within their complex. Let’s talk about how we can help.
👉👉Learn About Our Fund Opportunities With Apartment Life - https://www.vonfinch.com/fund
In January 2020 MPR released a study that showed over two thirds of Americans are lonely… but what’s even worse, is that during the pandemic this number has risen to 76% according to TIME Magazine. With reports of loneliness in the US at a staggering all time high, we have to ask the question: How can apartment owners make a bigger impact within their community that also makes them a profit?
This is where Apartment Life comes in. Apartment Life helps apartment owners care for residents by connecting them in relationships. This, in turn, helps improve the community's financial performance through online reputation, resident satisfaction, and resident retention. So join me on this episode as I take a deep dive into how we can make money and make lives better all at the same time.
Hit subscribe to join the Investor Mindset community and let us know in the comments below: How has the community impacted your decision to stay in the building, area or neighbourhood that you’ve been living in?
KEY TAKEAWAYS
1. Reports of loneliness in the US are at an all time high, with over 53% of apartment residents stating that they don’t have friends within their complex.
2. According to TIME Magazine during the pandemic the number of people who feel lonely has risen to 76%.
3. Apartment Life helps apartment owners care for residents by connecting them in relationships. This, in turn, helps improve the community's financial performance through online reputation, resident satisfaction, and resident retention.
4. 53% of average tenants say that they don’t have any friends in their building. However, after Apartment Life comes in, there’s an average increase of 43% in the number of connections that are happening within a building and community.
5. In this world we’ve got one main thing: people. The quality of your life comes down to the quality of your relationships with other people.
6. Head over to https://www.vonfinch.com/fund to learn more about the fund opportunities that we have and how you can get involved with Apartment Life and make a difference to people in their communities.
BOOKS
The Passive Investing Playbook - https://theinvestormindset.com/passive
LINKS
Learn more about our fund opportunities - https://www.vonfinch.com/fund
Learn more about investing with Steven at https://theinvestormindset.com/invest
Join the MultiFamilyMBA and get exclusive free training: https://theinvestormindset.com/mfmba
INTRO: This is the Investor Mindset Podcast and I'm Steven Pesavento. For as long as I can remember, I've been obsessed with understanding how we can think better, how we can be better, and how we can do better. And each episode we explore lessons on motivation and mindset from the most successful real estate investors and entrepreneurs in the nation.
Steven: [00:00:30] Reports of loneliness in this country at an all-time high, with over 53% of apartment residents citing that they don't have friends in their complex. And that leads to this big question of how can apartment owners make a bigger impact in their community that also earns them profit. In January 2020, MPR released a study that showed over 2/3 of Americans are lonely. And in this age of ever connectedness, it's a shame that being connected to so many people online have actually led to a huge lack of true connection between people in real life. And in the midst of the lockdowns since COVID happened, that number has increased at an exponential rate to over 76% of people according to Time Magazine. So it's in a time like this, that it's even more important that apartment owners and operators find ways to help build even more connections in their communities, they almost have a duty to do so but what's really amazing is that they might have a profit incentive as well. So the cool thing that I recently heard about was this organization that is on a mission to reduce and reshape the idea of living in apartment buildings, and to really truly turn those into apartment communities. And the name of the organization is Apartment Life, and it's a nonprofit organization. And what they're really committed to doing is treating their community members more neighborly, they call it loving thy neighbor, and they really put that emphasis into the communities that they're in. And what it ends up doing is they essentially build out community engagement programs that bring members of the community together to be able to interact and connect and get to know one another. But it's even more than that, because a lot of communities are doing that on a consistent basis, or an inconsistent basis more often than not.
Steven: [00:02:22] And what's really cool about Apartment Life is just how they've really gone about defining a clear set of values, and then they install those values in every member of their team, and every member of the Apartment Life team ends up showing up in kind of a consistent way and that way is really about treating other people as if they're family, treating other people as if they matter, passing people with a smile and a hello and engaging them. And what's really cool about this is it ends up actually leading to really good outcomes for the members of that community. The people who end up living there, end up loving it, they love that feeling of being connected to one another, being able to engage with one another, and being able to find ways to actually build friendships. If we go back to that earlier statistic 53% of apartment dwellers that are living in apartment communities don't know or don't have friends within their community, think about how different of a life that would be for those folks who are connected directly to the neighbor around them and they're talking to each other, and kind of back to some of those old time values of really getting to know one another on a better level and ends up leading to really great things. But what I really appreciate that it leads to is that this loving thy neighbor program, this philosophy, this concept actually adds immense value to the bottom line because as we know when we're owning an apartment building, and let's say we buy something at a 5% capitalization rate it's a simple way of how apartment owners value their apartment buildings, and often it's tied to how much revenue income they're actually making. If you add $1 of income or save $1 of expenses, you end up leading to about $20 of value at a 5% cap rate, so $1 equals 20. Well when Apartment Life has been implemented in buildings in their studies, what they've been able to find is that we're adding approximately $180,000 annually to the bottom line of that apartment building in value, and what's that's directly tied to is both staff and resident satisfaction. In other words, staff ended up experiencing a higher retention rate of both staff and residents because they end up building really quality communities within those apartment buildings that are building friendships. They're feeling like they're in a wonderful place and people like to live in places where they feel a really strong connection to that community.
Steven: [00:05:00] And so when we start out with a number that says 53% of average tenants or residents don't have any friends in their building, and after Apartment Life comes in, they're able to end up seeing the typical resonance 7 or more friends, 47% increase in the number of connections that are happening within that building. It's through the roof, and as somebody who has worked remotely and lived alone for quite a long time, I know that this is a real problem in the world, and it's definitely a bigger problem since COVID. And so to be able to find the community, and organization that's really making an impact is so cool, because in this world, we've got one thing, we've got other people, at the end of the day, it comes down to the quality of your relationships ends up to equaling the quality of your life. And so I am in full support of organizations that are focused on finding ways to build really great communities. And so I got a question for you let me know, over on social media or down in the comments below, how has the community impacted your decision to stay in the neighborhood, the building or the area that you've been living in? I'm looking forward to hearing from you guys in the comments, but my guess is it's been huge, because I know that's one of the biggest reasons people hesitate on moving across the country or even moving out of the neighborhood they live because they love that feeling of community.
Steven: [00:06:29] And so I'm really grateful to be able to share that we've actually launched a special fund to be able to invest in multifamily across nine different core cities from Denver, Colorado, to Charlotte, from Nashville to Dallas, and to many different cities in between, with an institutional operation, they have over a million units that they've managed over a billion dollars of assets under management. And most importantly, they have partnered with Apartment Life in all of these communities. So if this values best approach to really creating community is something that you're interested in having in your community, then as an operator, I highly encourage you to reach out to them. It's really cool how they implement it, and it's fairly low cost in comparison with the benefits that you get. But if you're an investor, I'm really grateful to be able to announce that we've actually put together a phenomenal partnership, and it's a partnership between one of the largest institutional investment firms that we've ever had an opportunity to work with, that has over a million units that they've managed, it has over a billion dollars of assets under management. And most importantly, they're partnering with Apartment Life, at the general partnership level, meaning Apartment Life is going to get a portion of all the profits to go right back into funneling into programs just like this. And apartment life is going to be installed into all of the communities across the portfolio. And just to talk about the scale, we're talking about hundreds of millions of dollars being raised in an enormous institutional fund, and what's really amazing is that they've given our investors the opportunity to be involved. And even though they have extremely high minimums, it's a million-dollar minimum to be invested in this fund. If you're investing through Vaughn Finch, and with the Vaughn Finch organization, you're going to have an opportunity to invest with investment minimums as low as 50,000. Now I'm talking about this publicly, so clearly, this is for accredited investors only. So if you're an accredited investor, and you're interested in getting in touch and learning more about this, I highly encourage you to reach out directly to me, you can do that on all the social platforms or you can head over to Vaughnfinch.com/fund, to learn a little bit more about some of the funding opportunities that we have, and most importantly, getting involved with Apartment Life in making a big difference in the world, I'm absolutely grateful to be able to make an impact with them. Not only are we going to make an impact in people's lives, we're going to make really great income as well, and be able to do that at an extremely large scale. And so when you look at the diversification benefits, it's a no brainer. So if this is something that's of interest to you, I highly encourage you to reach out and I'm looking forward to getting to serve you. If you're just joining us, make sure you hit that subscribe button down below and I'll see you guys on the next episode.
OUTRO: Thank you for listening to the Investor Mindset Podcast. If you like what you heard, make sure to rate, review, subscribe and share with a friend. Head over to theinvestormindset.com to join the insider club, where we share tools and strategies from the top investors and entrepreneurs and how to take it to the next level.