Last year, my friend’s husband died. It was unexpected and a shock. He had just turned 50, and her two girls 8 and 10.
My friend was left dazed, and reeling, and the first few months were all about getting her through. There was a lot to do (arrangements, personal files, and paperwork) and lots and lots of tears.
I went from just being present for *Holly (easily one of the best friends I know), to starting to think how to help Holly (and therefore her girls) long term.
One day on one of our long phone calls, I suggested she do a Property Circle to build a property portfolio for her and her girls.
That sounds big, but in reality, I had started one seven years before with a group of friends and we were about to buy our sixth property. We did this by sharing the cost of the deposit (hurdle one) and as a group we met the banks’
lending criteria (hurdle two). It is working really well for us.
Easy for me she said, but not for her. Why not? I pushed on, and her answer was simple:
I’ve always been the primary carer, I hardly have any super, or any real savings. Any savings I do have I need as back-up, as I can only work part-time – I need to look after my girls.
She was right – she didn’t have enough money to get started even if we were sharing the costs.
And it wasn’t just Holly….so many women are stuck! And if women are stuck, then their children are stuck.
I had just started My Property Circles that same year, and I realised it just wasn’t enough. I was excluding a whole group of people, including my best friend Holly, and so after many many many discussions with lots of people (mostly
women) Brick for Chicks was born, and I’m very excited about it.
We are still in the planning stages, and we still have some regulatory challenges to face down (which we will), but simply here’s how it works:
You decide how much you have spare, and Bricks for Chicks will match you $1 for $1. If you put down $5,000, we will match you with another $5,000. Bricks for Chicks will match up to $10,000.
With that first bit of savings, we will put you into a Property Circle, and together with a small group of others that Property Circle will start buying property. You will own a share of those properties.
You do not have to pay the Bricks for Chicks match funding back until the properties are sold. You can put in more each year (or each week if it’s easier) to own a bigger share of the Property Circle – but that is totally up to
Holly is my first Bricks for Chicks portfolio owner, and she is on her way.
If you think you can help or would like to partner with Bricks for Chicks please drop us a line below and we will be in touch.
Together we can make a difference.