Timothy Capecchi is teaching youngsters and adults, connected with his upper East Side apartment complex, how to play the piano - free of charge. Why? Because he wanted to meet his neighbors in a very large apt. complex and (I know this because I'm long time friends with his parents) that it is his simple way of giving back.
So, what does this have to do with Real Estate? It is my experience that fostering community and a "neighborhood" is one of the key components to successful investing.
"Joshua Eisenberg, 35, general counsel for Urban American Management and a member of the family that owns the River Crossing complex said free lessons are well worth the investment - Urban American provided six electronic pianos for the classes. "My father (Philip) always said that if you invest in tenants they will meet you half way," Eisenberg said. "There is a strong neighborhood association here, and when they came to us with this idea, we were all for it."
Now THERE is an owner who sees the big picture! Tenants and owners can only benefit! All this because one young man wanted to meet some people and found a way to give back AND an owner that said 'Yes'!
My hat is off to both Tim, the tenants and the owners who are creating community and a better place to live!
Read more: http://www.nydailynews.com/ny_local/2010/02/01/2010-02-01_fledgling_musicians_make_great_neighbors.html#e
"Real estate cannot be lost or stolen, nor can it be carried away. Purchased with common sense, paid for in full, and managed with reasonable care, it is about the safest investment in the world.” Franklin D. Roosevelt, 32nd U.S. president (1882-1945)
These are wise words from someone who experienced and saw more in his lifetime about economies rising and falling that we've seen- combined- in ours. Here's to all the real estate investors out there wishing you a year filled with prosperity and joy as we rebuild America one property at a time!