Real Estate tycoons share 3 questions you need to ask to leave a lasting legacy
Tim Forrester and Michael Hurley are two of the driving forces behind ARIA Property Group. With a clear focus on sustainable apartment living, they have been awarded Australia’s Best High-Density Developers for the past three years. Plus, they have also been recognised as Queensland’s Best Residential Developer six times in the last seven years. During our chat on the Wealth Faculty podcast, they explain that true wealth is about being able to make a positive impact. This one will definitely get you thinking….
FOR TIM FORRESTER AND MICHAEL HURLEY
Their vision for their property development business has always remained the same – to develop iconic residential and retails projects that they would feel proud to walk their family past in 20 years’ time. But for the powerhouse duo, it was more than just developing great property – they wanted to leave a positive and lasting impact, and they have an ambitious goal to achieve that.
“We want to be one of the most sustainable developers in the world and we want to bring that real environmental sustainability to our projects,” Tim says.
The pair, along with Brent Liddell, who’s friendship dates back to school days, established ARIA Property Group in 2003.
They started from humble beginnings, operating out of a little storage shed working on small land and property deals. Now, 17 years later they’re working on creating the world’s greenest residential building named The Urban Forest, which has since been endorsed by Sir David Attenborough.
Even after achieving so much success, Tim and Michael’s philosophy towards their work and wealth has never been to place value on how much money they can accumulate. Instead they are striving to leave a positive impact on the world and create a lasting legacy.
In their inspiring quest to leave the world in a better place, Tim and Michael are encouraging others to do the same. Here are the three questions they say you should be asking, to ensure you’re leaving behind a lasting legacy.
WILL YOU STILL BE PROUD?
In the next 20, 30 or even 40 years will you be proud of what you have achieved? Tim says that question is critical in all of their decision making.
“We’re all invested in the value that we’re creating and the legacy that we leave,” he says.
“Are you going to be proud of that in 20 years? If not, don’t do it, or let’s do it properly.”
HOW WILL THIS IMPACT YOUR CHILDREN OR GRANDCHILDREN?
Tim and Michael’s sustainable residential project, The Urban Forest, was inspired not just by their commitment to sustainability, but by their own kids and ensuring they had a better, cleaner planet to live on.
The 30-storey apartment building is packed with sustainable features that they hope will change the property space forever, including the reuse of 100 per cent grey water to irrigate the 20,000 plants on the buildings’ facade and the community park next door.
“If we’re serious about not just whinging about climate change, but actually doing something to reduce it, then as developers we’ve got a responsibility. It can’t just be concrete and glass forever. That just makes cities hotter…we need to create oxygen. We need to start greening these cities,” Michael says.
“If we want to genuinely think about our kids’ future and our kids’ kids’ futures, it can’t just keep going on with concrete and glass forever.”
The next generation, our children and grandchildren, are demanding a move to more sustainable practices. With the current state of our climate, there is now more weight and impact than ever behind the decisions you make around your carbon footprint.
From the car you drive and the energy you use to power your home, to whether you recycle and how much red meat you consume. The reality is, leaving a meaningful and lasting legacy is pointless if those who come after us are suffering from a dying planet.
Consider this – are you making conscious choices that will create a positive impact for the future of your children and grandchildren?
WHAT DO YOU DO TO GIVE BACK TO YOUR COMMUNITY?
When it comes to giving, Anne Frank said it best, “No one has ever become poor by giving.”
When we talk about wealth creation, we aren’t just talking about earning lots of money. Being wealthy means being fulfilled in all aspects of your life. What you choose to emotionally invest in is just as important as your financial investment.
When they’re not developing the world’s greenest residential building, Tim and Michael are hugely dedicated to giving back in their local communities through the ARIA Foundation.
“We do a lot of work with the Smith family who help support a lot of disadvantaged families and kids…and we do an Aria Learning For Life program with them,” Tim says.
So far, they have assisted 850 children and hosted over 1,000 people via their Work Inspiration programs, to help showcase potential career opportunities for those who need a leg-up.
A strong legacy is more than just developing a building they can slap their name on. It’s creating change in the lives of others.
Consider this – how much of your time are you dedicating to helping others – whether that’s in your own neighbourhood or on a larger scale?
WHAT DO YOU WANT YOUR LEGACY TO BE?
Creating a lasting legacy isn’t going to be a priority for everyone, but for those who view wealth as more than just a number to their name, it’s time to start considering carefully what impact you want to leave behind.
The only way to move forward is to do the work. Reflect deeply on the questions posed by Tim and Michael and identify ways you can make positive changes to help us all live a better, brighter and healthier future.
Learn more about how you can create a positive and meaningful legacy through real estate. Join us for a free property investing seminar. You’ll learn the tried and true strategies that have helped thousands of people create real and long-lasting wealth.
Book now – Property Investing Seminars
By Jason Whitton – Group CEO Positive Real Estate