Glenn is an entrepreneur with 25 years of experience in finance, tech, and operations. He earned his MBA from Harvard and an econ degree from Stanford. Though a California native, Glenn lives in Boulder with his family and sheep a doodle Huckleberry.
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Brett
Before we jump into this episode, I wanna invite you to join our community to help you become a better steward scale to billions and ultimately give more or all of it away. All I want you to do is to click the subscribe button right now. I love your support. It’s incredible to see your comments, and we’re just getting started. I can’t wait to go on this journey with you. Thank you so much for subscribing. It means the world to me. Welcome to the ability millions podcast where we got successful entrepreneurs and investors on the journey from millions to billions and the we believe the key to scaling your wealth and compounding your business starts every single day with a mindset and practice of stewardship over ownership. Hey, I’m excited about our next guest. He’s out of the originally from the great state of California, and now he’s in Colorado. He’s gonna be talking about housing affordability. He’s gonna be talking about making an impact, and so much more. Please. Welcome to the show with me, Glenn, being Glenn,
Glenn
how we doing? Doing great. Thanks. Brett, it’s great to be here, excellent. And probably
Brett
let’s just get to know you, maybe tell quickly a little bit about your story and your focus and what you’re doing there at Sycamore equity,
Glenn
sounds good. So yeah, I was born in Oakland, California. My dad was a pastor, and I grew up in a parsonage. However, that part of my story kind of went on pause for a while. Went to business school, consulting, worked in tech, but, you know, after having a family and some kids here in Boulder, decided I wanted to address something that really had purpose in life. And, you know, I looked at housing affordability as a big challenge here in the United States. So even a decade or two ago, a lot of homeowners could get into home ownership buying a house that was priced typically call it three to 5x what their income was. That was a decent rule of thumb, whatever your salary, whatever your household that income was, that’s about the house you could afford. But due to a whole variety of factors, the price of houses across the US is more like five to 7x people’s income. Today, in some communities, is even higher than that, 910, 11 times people’s income. So getting a down payment and the overall affordability is just not there. Add on to that that interest rates are at a relative high right now, and a lot of people just can’t get into home ownership. Well, as we started looking at that, we talked to a lot of nonprofit leaders who wanted to get people into home ownership, for their staff, people who need to be present in their communities, to do their best work, to be incarnationally Present. And it was so hard for talent, attraction and retention to get people into their communities. So we thought, well, what if we could set up a fund that would invest in single family, owner occupied homes, which is an asset class, it’s not that easy to get into. It would provide decent returns to investors, but it would also give these staff members that are making a huge impact in their communities a chance that bridge from rental to home ownership, and to bring both that financial stability, but also, you know, just sort of a peace of mind so they can go back to doing their jobs. That’s incredible.
Brett
So, yeah, you’re using, you’re taking the housing crisis, and you’re making an impact in a in a way that makes it more attainable for more people to have financial security, stability, you know, you know, ownership, and I would say even location stability, right? I mean, moving is such a stressful thing, and it even just the thought of not having at home. It’s such a it’s such a dynamic thing that needs to be solved for. Okay, so let’s, let’s dive right into this Glen. So what would you say is one of the top, you know, things that you’ve gleaned as far as wisdom or secrets, as it pertains to trying to do something about this, to make a big dent in the housing, housing housing crisis.
Glenn
Well, the number one thing is, there are financial returns in this, but you layer on to that additional value creation, so for employers, it’s unlocking, you know, reducing that cost for talent, attraction, retention. People will move to certain areas if they have this type of benefit. People will stay in jobs longer, you know, sometimes even at modest pay if they know that their housing is stable. So there’s, you know, both a financial cost and an organizational cost to employers, but then there’s a huge benefit to the home buyers. You know, they have a chance to start building equity, take tax advantages of having a mortgage, you know, improve the house, so the home buyer benefits, but then ultimately, whoever the investor is will also benefit, because there’s, you know, the organization that they care about, whatever this nonprofit is, you know, we’ll have better employees doing better work and serving the community better and so it’s a it’s it’s taking capital that’s ready to invest somewhere and benefiting three different stakeholders.
Brett
So if you like this little short clip of the interview I just did, click over here to watch the full interview. And please don’t forget to subscribe. It. Thanks so much, everybody.
05:01
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About Glenn Bean
Glenn Bean is a seasoned professional in the field of real estate finance and investment, currently serving as a Partner at Sycamore Equity Partners, a private equity firm specializing in real estate acquisitions and asset management.
With a strong academic foundation in finance, Glenn brings deep expertise in real estate transactions, portfolio strategy, and investment analysis. At Sycamore, he plays a key role in strategic decision-making, helping to identify, evaluate, and execute investment opportunities across a wide range of sectors, including both commercial and residential properties.
His leadership has contributed significantly to Sycamore Equity Partners’ growth and success in acquiring high-performing assets and maximizing returns for stakeholders.
For more information on Glenn’s professional background and current projects, industry professionals can refer to leading financial news platforms or professional networking sites.
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