Serving our Mission. Advancing our Cause. Being Thankful.

November 24, 2021

Run, Turkey! Run!

It's that time of year where we question why there are already Christmas lights up when it's not even Thanksgiving! It's getting close, though. Yep. Believe it or not, it's Thanksgiving week. I mean, I can't even! Or can I? I don't know. What does that phrase "I can't even" even mean...?

I Can't Even!

Wait...wut? Would you just look at that!? I decided I should do what any good inquisitive brain should do, I went to the google and typed in "I can't even" and there is a definition right there staring back at me from dictionary.com! That's cray cray! I mean, I can't even!

Thanksgiving week. It's more than a day. It's more than a week. It's a mindset. 

Here at Bakerson I am thankful for the opportunity to serve others. In fact, one of our vision pillars is "Passion". And, our passion is serving the underserved. Who are these underserved? As our economy advances, the markets go up and real estate development continues to be a big driver for bringing units to market, one segment is being left behind. These are the lower income earners. The beautiful new developments being squeezed between retail and office spaces? Class "A" properties. Within this segment is another big area of growth: gentrification; the process of creating affluent communities by buying and renovating deteriorating buildings within the urban core. As they replace the old and tired buildings which previously housed the poor, the poor realize they have nowhere to go. Buildings are going up. Rents are going up. The cost of living is going up. The poor and lower middle class are left with fewer and fewer choices and are at a loss to where they can move. It's real. It's current. It's here. 

During our current economic boom we are seeing a middle class which is being pushed up with the increased wages and a more affluent lifestyle. On the other end of this spectrum, the lower middle class to the upper lower class, we are seeing a divide. And I believe this is the largest, and growing, demographic in the United States with the least amount of development of housing for them. To put this in perspective, I am referring to those paying under $1,800 a month for rent in Phoenix, under $1,300 in Tucson and under $1,000 in small towns dotting Arizona; the ones with under 50,000 residents. These are the underserved. 

Studio Electrical Going in!

A second underserved area is communities, outside of major metropolitan areas, with under 100,000 residents. Most investment groups, equity funds and other dealmakers are flocking to metros such as Dallas | Fort Worth, Phoenix, Las Vegas and others. Very few are interesting in the smaller markets. There is significant speculation in the bigger markets and the investors are buying equity; or future profits. They are not buying cashflow. Our shift has been to not only create this equity through massive rehab, but also to focus on buying cashflow. When we seek this we can create greater stability for a longer period while serving the communities which are underserved. 

This is our mission. This is our cause. This is Thunder Mountain. 

Speaking of Thunder Mountain, here is the update. 

Caught in the Act!

We have electrical getting run into units and the installation of the electrical panels is underway! Shocking, isn't it? I'm sorry, I just couldn't resist. They are also well into framing the kitchens. When said this way it sounds as if the kitchens have been falsely accused: "The kitchen has been framed!", screams the headline above the fold. I mean, it is news after all. Once the electrical and plumbing is roughed in then they will install the drywall, do the mudding and taping and then install cabinets, and so on. At least this is roughly the process they will follow. 

Sprinkler Pipes

I was just thinking, I don't think I have ever said the word "sprinkler" ever so much in my life. During the time of this project I believe I have said "sprinkler" more than the rest of my living days combined. And for this grandpa, that is a lot of days! As of this writing, and not when you read it because that will be even more days, I am the ripe old age of 19,320 days old. And, I was born on a Tuesday so it's exactly 2,760 weeks. Those are big numbers. Golly gosh and oh gee whiz!

The sprinklers are getting run into the rooms and outfitted with sprinkler heads. They continued into the second phase of the project as I had shared in previous blogs. This is the most current install above. 

Another Kitchen Framed

With that, it's time to eat some turkey. Run, turkey! Run!

But wait! There's more! There is one more thing... As we coast into Thanksgiving I wanted to take a moment to share what I am most thankful for. I am most thankful for faith, family, friends and freedom. There is yet one more thing very close to the other four. Very, very close. And, I would be remiss if I didn't take a moment to thank you, all of you who believe in our mission, support our vision and help us advance the cause of serving the underserved. From the bottom of my heart, Thank You!

And that is our project from my corner of the globe ~Bruce