I’m saddened to announce that we will officially be saying good-bye to an old friend in a few days.
For the last few years I’ve owned a stake in the Blanco Oaks Apartments. I am only one of the investors in this community and a fairly minor one, at that. So when the rest of the owners voted to sell the community, I could either go along or buy them out. I decided to go along because I didn’t want to either manage the property myself or put a team together to buy out the other owners.
Before I go any further, I have to say that I am not saddened because I am overly enamored of the cash flow this community generates nor because we won’t be realizing a profit on the sale. I’ve always believed if you take care of the people first, the money will follow, and Blanco Oaks has been a great example of the philosophy coming to fruition.
No. I’m saddened because I will miss being a part, however remote, of what we’ve accomplished there. Here’s a story from the managing partner that illustrates what I mean:
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Our most recent tenant said he drove through the property 3 years ago and drove right out. When his current landlord said they were selling his rental property and could no longer rent to him/his wife, his family recommended he and his wife ‘look again at those Blanco Oaks apts’. He did, grudgingly to appease his sister-in-law. This time when he drove through, he said it was like driving into a park and beautiful. He stopped in for info, looked at an apt, and he/his wife signed a lease that next day.
This is work [we] have done to enrich lives of the people who live here. You will have done so much more than make a profit personally…you improved others’ lives. Even the children and teenagers on the property are great…and how many places can say that? A group of them drew a blueprint & brought to the office showing us all the wasp nests they saw on the property, as they knew we always went about during the spring to find and get rid of any wasp nests we saw. They consider their apartments home…an important goal we’ve all tried very hard to foster.