Martin Braithwaite earns £85,000 a week.
Now look, that’s nothing to scoff at — but it certainly doesn’t put him at the top of the list either. So how did he manage to become one of the wealthiest players in the world?
Three secrets:
The right opportunity. The right mission. And the right team. Those are three of the biggest factors behind the success of Braithwaite’s online real estate company, NYCE.
Still not convinced? Give us 5 minutes to change your mind.
Starting… now!
What is NYCE?
NYCE Companies is a fintech company co-founded by Martin Braithwaite, and it’s been called the ‘Robinhood of Real Estate.’
Note: Robinhood is an app that makes stock trading easy and affordable for young investors.
NYCE is similar — they’re making real estate investing possible for Millennials. Users can buy shares of income properties and get steady returns. Philip Michael, Braithwaite’s co-founder and CEO, calls it “Goldman Sachs for the 99% vs 1%”.
The company launched in 2017 when Braithwaite partnered with Michael — they started with $850,000 and turned it into $10 million by the end of the year.
Their latest project is Temple II, a student housing project for Temple University fitted with the latest smart home technology. It’s projected to be worth $11 million by the time it’s completed.
The most compelling thing about NYCE is its mission: create 100,000 Millennial millionaires (of colour) by 2030 — now that’s inspirational. (Also, try saying Millennial millionaires five times fast).
Need more reasons to be impressed? All the properties are affordable housing to support lower-income families.
They’ve recently partnered with Texas developer LYND for a deal worth $477.6 million. NYCE’s goal is to operate a billion-dollar real estate community by 2025 — it looks like they’re on their way!
Unless you close your eyes and shout “LALALA” really loudly, it’s impossible to ignore NYCE’s incredible momentum.
But what can we learn from Braithwaite’s success?
Lessons learned
Find the opportunity.
In the US, Millennials face student loan debts of around $19,000. For context, Gen X’s deficit was $12,800 at that age.
Only 38% of Millennials feel financially stable, and two-thirds live ‘paycheque to paycheque’.
Clearly, there’s a problem NYCE can solve here.
The world is filled with problems. To the right eye, they’re opportunities. Find one you care about and invest in solving it! But be careful — your time is valuable, so find an opportunity worth investing in.
Be mission-driven.
NYCE Companies is driven by its mission to close the wealth gap for minorities in the US. When Braithwaite saw the income inequality in the US, he was shocked by how different it was from Denmark — that’s when he knew he had to do something.
Getting people excited about your company can be tricky. Do you know what makes it easy? Having a mission people can get behind.
Being mission-driven gives your company a purpose beyond profit. It inspires employees to give their best, investors to give their money, and customers to give their business.
Finding the right team.
When you start a company, the right team will make or break your success. Braithwaite co-founded NYCE with his uncle Phillip Michael, a real estate developer, influencer, and best-selling author.
The right team will allow you to focus on what you do best. When you can depend on your peers, they can catapult your venture to success.
