There are roughly 100 million renters in the United States, and for most, the financial knowledge needed to transition to homeownership—how to get out of debt, build credit, or save a down payment—was never taught. Steven Libman, founder of Investing With Purpose™, sees this as both a societal failure and an opportunity. Through 15 years in multifamily real estate, Libman has built a faith-driven community investment model where financial literacy is central to resident services.
The wealth gap between homeowners and renters is stark: the average homeowner has a net worth of over $350,000, while the average renter has about $10,500. This gap is not primarily about income but about knowledge, access, and compounding decisions made without the right information. Libman argues that people have been told managing money is too complex, leading them to outsource their conscience to advisors and CPAs without truly understanding their finances.
A current example of the model in action is a 418-unit property in Lubbock, Texas, owned by Integrity Holdings Group (IHG), a firm Libman co-founded. The property runs a financial literacy program in partnership with Dave Ramsey’s Financial Peace University, delivered by on-site ministry coordinators. The free program covers debt reduction, credit building, and savings strategies—foundational mechanics that most multifamily residents have never accessed in a structured way. This initiative aligns with the Asset Ministry Program framework that Investing With Purpose advances across its portfolio.
What makes the Lubbock program notable is the pathway to ownership. The community consists of individually deeded duplexes. Residents who complete the program and meet qualifying milestones can purchase their own units, transitioning from tenant to homeowner, and in some cases to landlord, within a realistic timeframe backed by partnerships with local credit unions and banks. “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.”
The financial literacy program is not just philanthropy; it also improves asset performance. Residents with strong social ties in a complex are 45 to 50 percent less likely to leave, and lease attrition at properties with structured community engagement drops by 40 to 50 percent. Lower turnover reduces costs and stabilizes income, making the program an investment in both community and asset stability. Investing With Purpose is also developing summer tutoring and kids’ programming to address learning gaps for children in multifamily housing.
The broader question the model raises is what responsibility operators have to residents beyond maintenance and safety. For a faith-driven operator, Libman argues that answer is insufficient. “Where people live affects almost everything their life touches,” he says. “The communities they are building, the people they are with—if we can impact somebody’s life inside a community, and then you see the butterfly effect of that, it is immeasurable.” More information on the Asset Ministry Program is available at investingwithpurpose.org/impact.
