Travel Guru Rick Steves Donates Apartment Complex To Homeless Women And Kids
You probably know Rick Steves for this European travel specials that run all over public television.
While you’re watching him show you a quaint inn in Austria or walk a picturesque trail in France, you probably don’t realize that there is one generous heart who has his other passion—giving back.
Steves long ago invested in a $4 million apartment complex back home in Washington state.
He explains on his website, “One of my pet social causes has long been affordable housing. Twenty years ago, I devised a scheme where I could put my retirement savings not into a bank to get interest, but into cheap apartments to house struggling neighbors. I would retain my capital, my equity would grow as the apartment complex appreciated, and I would suffer none of the headaches that I would have if I had rented out the units as a landlord. Rather than collecting rent, my “income” would be the joy of housing otherwise desperate people. I found this a creative, compassionate and more enlightened way to ‘invest’ while retaining my long-term security.”