We caught up with the brilliant and insightful Noah Corapi a few weeks ago and have shared our conversation below.
Noah, appreciate you joining us today. Finding those key vendors can often be make or break for a brand. Can you talk to us about how you found your key vendors?
When I embarked on the journey of establishing NWC Ventures independently, a valuable lesson swiftly unfolded: the key to success, both for myself and the company, lay in assembling a team of skilled and well-equipped laborers. In the initial stages, the challenge of locating real estate laborers with expertise in diverse areas such as plumbing, electrical work, HVAC, and more was markedly turbulent. Even when a proficient contractor was identified, the cost proved exorbitant, and the project’s lead time often exceeded both my expectations and those of my clients. The early experiences underscored the importance of building a reliable and efficient team, capable of delivering quality services within reasonable timelines and budgets.
Over the past decade, the number of blue-collar workers has significantly diminished by an alarming 15%, creating an environment where finding skilled laborers is increasingly challenging (Bureau of Labor Statistics, 2010-2020). Despite these challenges, I have been fortunate to identify and collaborate with exceptional individuals whose skills extend beyond what is visible on the screen. The most fulfilling aspect of my day-to-day activities is empowering my primary contractors to thrive in demanding housing environments characterized by quick turnaround times and high client expectations. Notably, 78% of contractors report feeling the impact of a shrinking skilled labor pool (Construction Dive, 2021). I’ve come to understand that the real estate contracting industry is evolving concurrently with technology, allowing skilled laborers to embrace entrepreneurial roles. As generations integrate AI and other assistive technologies, individuals can now market their skills with simplicity and efficacy. Consequently, traditional blue-collar work within larger companies is gradually losing its appeal, with a notable 20% decline in interest reported among younger generations (Pew Research Center, 2022).
NWC Ventures, my company, excels as a distinctive property management choice for skilled laborers aspiring to cultivate their business and fully embrace the opportunities of operating as independent contractors. Collaborating with my three primary contractors has been an enriching experience, resulting in the successful completion of over a dozen housing projects. Remarkably, these projects were either within or under the projected budget, all achieved within the past four months in the East Cleveland area. This accomplishment not only underscores our commitment to financial efficiency but also highlights the competence and dedication of our skilled team. In the process of assembling and fostering this team through a collaborative partnership with my primary client, I’ve successfully implemented a mutually beneficial arrangement. This involves offering my team of skilled laborers discounted housing options in exchange for preferential rates on primary services. This strategic initiative not only serves to create a sense of ownership and commitment among my contractors but also addresses a crucial need within the community. By providing affordable housing alternatives, we contribute to the community’s social fabric, cultivating a cadre of individuals who not only excel in their roles but also emerge as leaders making a positive impact where it is most needed.
My aspiration for the future is to persist in bringing skilled laborers into underserved communities with the aim of playing a pivotal role in transforming a historically unsafe area into a thriving one. According to recent statistics, East Cleveland has faced significant challenges, with crime rates consistently higher than the national average, emphasizing the urgency of community revitalization efforts (City-Data, 2022). Given the concentrated efforts of many of my out-of-state clients in real estate ventures throughout East Cleveland and the substantial demand for affordable housing options in the region, a perfect recipe emerges for shared success. The city reports a pressing need for affordable housing, with approximately 60% of residents spending more than 30% of their income on housing (U.S. Census Bureau, 2021). This creates an ideal environment for the elevation of skilled laborers already present in the area. By strategically focusing resources and efforts, we not only contribute to the revitalization of the community but also empower local skilled workers, fostering a positive and impactful transformation within East Cleveland.
Noah, before we move on to more of these sorts of questions, can you take some time to bring our readers up to speed on you and what you do?
Hello, I’m Noah Corapi, the founder of NWC Ventures, a dynamic venture specializing in property management and real estate contracting. My journey into this industry began when I embarked on establishing NWC Ventures independently, and it quickly became evident that the key to success lay in assembling a team of skilled and well-equipped laborers. The initial stages were marked by the challenge of locating real estate laborers with expertise in diverse areas such as plumbing, electrical work, HVAC, and more, all of which contributed to the valuable lessons that underscored the importance of building a reliable and efficient team capable of delivering quality services within reasonable timelines and budgets.
Over the past 3 years, I’ve navigated the changing landscape of the industry, recognizing the significant decline in the number of blue-collar workers by an alarming 15%. Despite these challenges, I’ve been fortunate to collaborate with exceptional individuals whose skills extend beyond what is visible on the screen. My commitment to empowering primary contractors has resulted in the successful completion of over a dozen housing projects within or under the projected budget, showcasing the competence and dedication of our skilled team. The evolving real estate contracting industry, driven by technological advancements and the integration of AI, has allowed skilled laborers to embrace entrepreneurial roles, marking a shift away from traditional blue-collar work within larger companies.
NWC Ventures excels as a distinctive property management choice for skilled laborers, providing them with opportunities to cultivate their business and fully embrace the advantages of operating as independent contractors. Collaborating with my three primary contractors has been an enriching experience, highlighting our commitment to financial efficiency and the competence of our skilled team. Our strategic initiative of offering discounted housing options in exchange for preferential rates on primary services not only creates a sense of ownership among our contractors but also addresses a crucial need within the community, contributing to the social fabric and cultivating leaders.
Looking ahead, my aspiration is to persist in bringing skilled laborers into underserved communities, playing a pivotal role in transforming historically unsafe areas into thriving ones. In East Cleveland, where crime rates consistently exceed the national average, our concentrated efforts align with the substantial demand for affordable housing options, creating a recipe for shared success. With approximately 60% of residents spending more than 30% of their income on housing, our focus on revitalization and empowering local skilled workers contributes to a positive and impactful transformation within East Cleveland.
I am most proud of our team’s ability to navigate challenges, deliver exceptional results, and contribute meaningfully to the communities we serve. What sets us apart is our commitment to building a skilled and diverse team, our strategic approach to addressing community needs, and our focus on creating a positive impact. I want potential clients, followers, and fans to know that NWC Ventures is more than a property management company; we are dedicated to transformative real estate solutions, community revitalization, and empowering skilled laborers.
What else should we know about how you took your side hustle and scaled it up into what it is today?
The inception of NWC Ventures, my independent venture, marked the beginning of a transformative journey in the property management and real estate contracting industry. Early on, it became evident that the key to success lay in assembling a team of skilled and well-equipped laborers. This realization dawned upon me when reflecting on my parents’ success in real estate—they leveraged my grandfather’s generationally owned and operated handyman services. This strategic move allowed them to deploy labor at much lower costs, significantly increasing the value of their capital.
As my journey unfolded, a key milestone emerged when I realized that replicating this successful model required turning my side hustle into a full-time business. Understanding the crucial steps involved, I delved into networking, connecting, and harmonizing with skilled independent contractors. This marked the evolution of NWC Ventures from a side hustle to a thriving main and full-time business.
The journey involved strategic decisions, and the utilization of generational wisdom played a pivotal role. Leveraging my family’s successful approach, I scaled up NWC Ventures by actively seeking and collaborating with skilled laborers. The ability to deploy a proficient team not only increased efficiency but also played a crucial role in successfully completing numerous housing projects.
Another significant milestone was the recognition of the changing landscape within the real estate contracting industry. The integration of technology, including AI, prompted a shift towards entrepreneurial roles for skilled laborers. NWC Ventures adapted to this trend, embracing innovation and ensuring that our team stayed ahead in a dynamic industry.
Furthermore, the strategic initiative of offering discounted housing options in exchange for preferential rates on primary services contributed to both team satisfaction and community impact. This became a hallmark of NWC Ventures, emphasizing our commitment to financial efficiency and addressing the needs of our contractors.
In essence, the story of NWC Ventures transforming from a side hustle to a main and full-time business is marked by key milestones such as recognizing the importance of a skilled labor team, adapting to industry trends, and implementing strategic initiatives for both team and community benefit. The journey has been a testament to the commitment to growth, efficiency, and positive impact that define NWC Ventures today.
Have you ever had to pivot?
My most significant pivot point occurred recently when I departed from the realm of luxury property management to realize my dream of owning and operating my business in the real estate management and construction space. Just six months ago, I was immersed in the operations of one of the most expensive market-rate buildings in the greater Cleveland area. However, as time passed in this role, I grew increasingly frustrated with the decision-making processes and their impact on our tenant population. In my position at that point I was powerless in enabling any sort of change in these processes.
It was at this critical juncture that I made the pivotal decision to collaborate more closely with the skilled laborers I had networked with during my tenure in luxury real estate management. The objective was to create a bridge that could leverage the lessons, both positive and negative, from my experiences. I aimed to transform these insights into an opportunity to enhance practices in an underserved market, specifically East Cleveland. The shift represented not only a change in my career path but also a commitment to making a positive impact in a community that had been overlooked.
Contact Info:
- Website: https://www.nwc.ventures/
- Instagram: @nwcventures
- Linkedin: https://www.linkedin.com/company/nwc-real-estate-ventures/