With S.H.A.R.E. Community Development Corp. (SCDC) close to exceeding $3 Billion in purchase orders for its turnkey multifamily investment models, company Founder and Chief Vision Officer Odell Abdur-Raheem is poised for major success. We sit down with the entrepreneur, to learn more about S.H.A.R.E and reflect on his journey.
Speaking to real estate mogul Odell Abdur-Raheem – Founder and Chief Vision Officer of S.H.A.R.E. Community Development Corp. (SCDC) – you wouldn’t guess the magnitude of success he’s accomplished over the last three decades. He’s humble, open to sharing stories of his losses, and so down to earth that the 45+ minute interview we had this past summer felt like a catch-up with a long-distance relative.
He’s also intent on following through with his original plan to incorporate low-income housing into his real estate investment company that is making waves in the Houston area.
“I actually incorporated the name S.H.A.R.E. Community Development Corp. (SCDC) as a nonprofit in 2004, and the original idea was to build very simple, small concrete homes,” he reflects. “I had the idea for concrete back in 2004, right before the crash happened, but that nonprofit obviously never got off the ground. When I came up with the multifamily concept, I still wanted to use the name. We’ll do a lot more things than that over the years as we grow as a company.”
The Chief Visionary Officer of SCDC is currently focusing on creating innovative Class-A multifamily real estate investment landscapes by introducing a win-win-win model for investors, tenants, and local communities. As the visionary behind the new look multifamily model that’s primed for turnkey real estate investing, Abdur-Raheem’s aim is for SCDC to utilize what he says is the most valuable resource on planet Earth – the human.
“When I coined the term S.H.A.R.E. in the early 2000’s, it was because everything revolves around Supplying Humanity with Achievement, Resources, and Education,” he shares. “Kind of like the Declaration of Independence or the Preamble, in that it’s those basic necessities that we need as humans. You can take gold, oil, platinum, diamonds off the earth but if you take humans off it, all that exists are meaningless rocks.”
The mission is baked into the name: S – supplying H – humanity with A – achievements R – resources, and E – education.
Abdur-Raheem believes that success comes when we find a solution to human issues. In business, the goal is to be a productive member of society by providing a service that benefits the community while also making a profit.
Living this out has been a long road of perseverance and dedication. Abdur-Raheem began his career in real estate investing in his 20s – getting into the industry with money he had made working in a personal injury claims firm with his mother.
This was the early 2000s – and Abdur-Raheem was finding success and making six figures.
“You just think you’re on top of the world,” he says, “so I lived like it, spent money like it, et cetera, because you think it’s never going to end.”
This was the high point at which S.H.A.R.E. was born – and precast construction seemed the perfect vehicle for providing high value yet low-cost homes to the community. But life has a way of throwing curveballs at even the most carefully crafted plans. The market, as we all remember, crashed in 2008.
“When you go through a financial collapse,” Abdur-Raheem says, “it affects you more than just your pocket.” This was a time of both personal and professional struggle, as the entrepreneur lost a few multimillion-dollar companies and found himself building back from scratch.
The silver lining was that every setback came with a lesson – and Abdur-Raheem took away experiences from that time that still impact his success today. This can even be seen in SCDC’s focus on multifamily property – which is considered one of real estate’s most durable investments, especially in comparison to the single-family approach he had taken pre-crash.
“It’s trial and error,” he says. “I’ve taken time to study and learn from billionaires. I look at what they’re doing and see how it can be improved – then I put my own twist onto it.”
Coming out of the crash, Abdur-Raheem had a wealth of experience from his years in the industry. He started giving advice to other businesses in his area and – almost by accident – a consulting business blossomed.
Over this span, Abdur-Raheem consulted over 100 different companies, and found himself as an owner or part owner of over 30 different companies. This brought experience beyond just real estate – and still influences the way he approaches multifamily, a business that goes beyond just putting roofs over people’s heads.
Abdur-Raheem wasn’t just able to build back his prior successes – he eclipsed them. This led to the late 2010s, when the entrepreneur was preparing to make a big play in the entertainment business. He was working on building a major complex spanning over 130 acres. He was teaching himself how to use architectural software to fill out his vision. He was working with many big entertainers on creating the ideal environment for their shows.
Then COVID-19 hit and the entertainment industry was put on ice.
“I didn’t know if the pandemic would last a month or ten years,” Abdur-Raheem says. “The project would have to go on the back burner, but I’m not the one to just sit around and wait.”
Despite having a project that had taken 2 and a half years of his time completely halted, the entrepreneur still considers COVID-19 a “blessing.” It was this global event that pushed him back towards multifamily real estate – and brought us the SCDC that we see today.
SCDC is now breaking ground and introducing Abdur-Raheem’s win-win-win model to investors, tenants, and local communities. Under Abdur-Raheem’s vision, the development company is building tenant-friendly Class-A real estate and offering turnkey investments for those looking to get into the market.
All the twists and turns in the road have brought lessons, wisdom, and experience that dovetail into the Abdur-Raheem that we know today. Each iteration of his career has fed the dream and vision of SCDC.
A testament to the power of bettering the community through business, the Founder is soon to reach billionaire status – as SCDC is trending to exceed $3 Billion in purchase orders for its new multifamily investment models.
“I understand it’s a milestone,” he says, “and I hope it can inspire other people to reach that goal. There are a lot of things that humble me to where a billion dollars is more opportunity to do things that better the community.”
Whatever comes next for Odell Abdur-Raheem, one thing is certain. The community will S.H.A.R.E. the rewards.
To see the work of Odell Abdur-Raheem and S.H.A.R.E. Community Development Corp., visit their website.