Heartland Investment Partners - December 2019

THERE’S NO EXPIRATION DATE ON ENTREPRENEURSHIP

THE JOYS OF STARTING A BUSINESS AFTER YOU ‘RETIRE’

As a nation, America is getting older. By 2030, 20% of Americans will be 65 or older. With people living longer than ever before and the baby boomers approaching retirement age en masse, older adults will continue to have a massive impact on the American economy at large. Normally, we think of seniors as people who cash in on the hard work they’ve already accomplished. Many young people even worry Social Security will be wiped out by the time they reach retirement age. But who’s to say older adults can’t contribute to the economy? If you’ve ever tried to change jobs late in your career or pick up some part- time work after retirement, you know it’s hard to be hired as a senior. Quartz recently called seniors “the economy’s most underused natural resource.” Until more employers understand the value and potential of older workers, entrepreneurship remains the most viable avenue for seniors wanting to work after their primary career has ended. There are a number of reasons why seniors find creating their own business to be rewarding and why they tend to succeed when they do. Unlike younger people, who often become business owners in an attempt to make a fortune, older entrepreneurs can be content with small, sustainable micro-businesses. They also approach their businesses with a wealth of experience that can’t be purchased. As a result, 70% of ventures founded by older entrepreneurs are still open five years later, more than double the rate of the general population.

With so much potential to be found in senior-run businesses, it’s no surprise that organizations are rushing to empower older adults with the tools they need to succeed. Senior Planet, a coworking space for seniors with outposts nationwide, teaches classes on skills like website creation in a space that makes older learners feel welcome and comfortable. On top of being an important economic driver, entrepreneurship can be a wonderful way for seniors to generate meaning and value in their lives. It’s never too late to start the business of your dreams.

HAPPENINGS AT HEARTLAND

CLARK STREET APARTMENTS GOES TO AN IDEAL INVESTOR

Over his many years in business, Darin has found himself taking on the role of matchmaker. He maintains relationships with property owners

As icing on the cake, the investment group had the perfect amount of capital available and was able to lock in low-interest terms for financing the property. The deal closed in mid-October and should turn a profit for the investment group for years to come, just as it did for its past owner. If you’d like to take part in one of these sweetheart deals in the future, you can take action today by emailing Darin at darin.garman@gmail.com and asking to join our list of priority investors. You’ll be among the first to hear about opportunities like Clark Street and have a chance to reap their benefits!

and management companies across Iowa, checking in with them regularly regarding the status and availability of their properties. He’s also in day-by- day contact with investors looking for deals. When the timing is right, he can bring two of his contacts together to make a sale that benefits both sides. This October, Clark Street Apartments was one of those sales. It’s an attractive, multibuilding complex featuring 63 one- and two-bedroom units. When an investment group looking to expand its eastern Iowa holdings with an additional multifamily property checked in with Darin, it came immediately to mind because of its size and location. “I had a very good relationship with the owner of the Clark Street Apartments, and I knew that he might consider selling them, even though these apartments had been a solid and steady investment for him over the years,” Darin says. “It turns out that the timing was perfect, not only for the owner but also for the investment group, to make the purchase.”

2 DARINGARMAN.COM

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