Steven Libman, founder of Investing With Purpose™, is tackling a wealth gap that leaves the average U.S. renter with a net worth of about $10,500 compared to over $350,000 for homeowners. Through a financial literacy program embedded in multifamily properties, Libman aims to equip renters with the knowledge needed to move toward ownership, a model currently in operation at a 418-unit property in Lubbock, Texas, owned by Integrity Holdings Group (IHG), a firm Libman co-founded.
The program, delivered in partnership with Dave Ramsey’s Financial Peace University, is free for residents and covers debt reduction, credit building, and savings strategies. On-site ministry coordinators facilitate the curriculum, which addresses what Libman calls a societal failure: the lack of financial education in schools, homes, or through landlords. “We have done a really good job of reconciling our giving and our philanthropy to our core values,” Libman says. “But when it comes to our investments, we outsource our conscience and our thinking to someone else.”
The Lubbock property consists of individually deeded duplexes, offering a unique pathway: residents who complete the program and hit qualifying milestones can purchase their own unit, transitioning from tenant to homeowner—and potentially to landlord. “Maybe the single mom who thought she would be renting forever is, two years later, a landlord,” says Libman. “That changes the trajectory for her and her kids.” Partnerships with local credit unions and banks support this transition.
The initiative is not merely philanthropic; it yields tangible business benefits. Data from properties running similar community engagement programs shows lease attrition drops by 40 to 50 percent, and residents with six or seven friends in the same complex are 45 to 50 percent less likely to leave. Lower turnover reduces costs and stabilizes income, making the financial literacy program an investment in asset stability. “Where people live affects almost everything their life touches,” Libman notes. “If we can impact somebody’s life inside a community, and then you see the butterfly effect of that, it is immeasurable.”
Investing With Purpose is also developing summer tutoring and kids’ programming at several portfolio properties to address learning gaps during school breaks. The broader question Libman raises is about operator responsibility: beyond maintenance and safety, a faith-driven operator should address residents’ financial well-being. The Lubbock program is still tracking full outcomes, but the framework is replicable across a growing portfolio.
For more information on the Asset Ministry Program and the firm’s community investment model, visit investingwithpurpose.org/impact. Learn more about Investing With Purpose at investingwithpurpose.org.
