MINDSET
OPPORTUNITY
Community Investment CREATING STRONGER OPPORTUNITIES FOR DEVELOPERS AND BUILDERS
by Bruce McNeilage
hen I made my first real estate investment about 15 years ago,
the quality of life for my tenants was as much my responsibility as main- taining the plumbing and electrical. From that point on, Kinloch Part- ners has made it a point to become a good community partner. We try to get to know other local civic, busi- ness, and religious leaders in the towns where we build. We work with city councils to provide landscap- ing improvements and we donate to local charities and schools. It’s important for any business to give back to their communi- ties. Strong communities attract good people and the entire process becomes an upward spiral of positiv- ity. And, of course, a rising tide lifts all boats. As our business has evolved and we’ve started investing in entire Build-to-Rent developments, our sense of community responsibility has grown exponentially. We always look for land in a thriving community as a starting point, then we engage in other activities. We meet local leaders, invest in landscaping, and donate to schools and charities. But, we also look at our develop- ments as their own separate com- munities. We build a clubhouse, or a community pool or workout facility
as a way for people to recreate and socialize. We make sure that common areas are well lighted and feature beautiful landscaping and we make sure that any services are top notch. Now before you pat me on the back for being altruistic, let me be clear about something. I’m still in this to make money! But, giving back to the communities we serve helps them thrive. When commu- nities thrive, they attract additional investment and high-quality tenants and residents. Ultimately, this makes our properties attractive, keeps our occupancy rate high and keeps our profitability strong. Bottom line, if you want to grow your real estate business, it is imperative to grow the communities in which you invest. •
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there was no doubt about my moti- vation. I was in it for the money, plain and simple. With $9,800 down, I was the owner of a small house with nice tenants who paid their rent on time. Mon- ey was falling into my pocket, the house was growing in value and life was good. With one house and one tenant in a nice town, I didn’t have to worry about giving back to the community or being civic-minded. Frankly, if all you ever want to do is own one house, this line of thinking will work for you. But, I wanted more. And, as my investment holdings grew and my business began to thrive, I noticed something. I started thinking more about where I was buying my homes. Were they in nice neighborhoods? How were the schools? Are there nice amenities such as restaurants, bars, and entertainment that my ten- ants will enjoy? Little by little, the fabric of the community began to matter more and more. I realized pretty quickly that just making money wasn’t enough. The quality of the community and even
Bruce McNeilage is the managing member and a co-founder of Kinloch Partners and a partner in Harpeth Development.. He is a passionate
advocate for housing affordability and homeownership, and invests heavily in Nashville, Tennessee, as well as throughout the southeast. Learn more about his projects, including single-family built-to-rent communities and the Solo East and North condominium projects at www.Kinlochpartners.net.
82 | think realty magazine :: november 2021
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