Marcus Hiles Net Worth
The story of how Marcus Hiles built his considerable net worth is a story of hard work, business experience, and no small measure of ability. The real estate developer and investor has spent the past 30 years building a property empire in his home state of Texas, enjoying tremendous success along the way.
Marcus comes from decidedly humble origins. As a young child of strictly middle-class parents, he was not surrounded by many creature comforts. Rather, his family instilled in him important values such as working hard to achieve goals and to appreciate success as it comes. He took those lessons to heart as he entered his education, achieving early success as an undergraduate student in Economics at Rice University in Houston, Texas. He was accepted into the Economics Honor Society of the University for his academic achievements and was able to help other students make the most of their experience. Later, he entered the MBA program at Pepperdine University in Malibu, California. Here, as at Rice, Mr. Hiles stood out for his excellent grades and leadership abilities, being elected to the business school’s Board of Visitors.
It was at Pepperdine that Marcus first began to formulate his plan for success. In his coursework, he was introduced to the real estate market. He learned that in his home state of Texas, demand for residences greatly exceeded the availability of suitable properties. Almost immediately after earning his MBA, he poured his savings and efforts into establishing his first business, Western Rim Property Services. The company was designed to focus on the rental/lease market in North Texas initially; as companies located in the state to take advantage of low business tax rates, young professionals sought upscale places to live that offered convenience, creature comforts, and an urban feel. Many of these young workers were not ready to purchase homes, so rental units were a hot commodity. Western Rim began developing properties in earnest. Marcus was able to identify areas that had good school systems and easy access to shopping and transportation, and he purchased land in those areas. Now, 30 years later, and the company is responsible for over 25,000 rental units throughout the state of Texas, encompassing the full range of rentals including condominiums, apartment blocks, and townhouse developments.
Western Rim’s game plan for success was simple: provide upscale residential living with affordable lease terms. The company outfits the units with high-end appliances, energy-efficient ventilation and lighting, hardwood floors, and a sophisticated feel. Each development protects natural areas in and around the properties, setting aside outdoor areas like parkland and nature trails for the enjoyment of residents. These features help to build community while improving the quality of life. Amenities are included in each development as well, with swimming pools, clubhouses, and shopping all a part of the living experience. The company has experienced unrivaled success in this part of the real estate market, and has continued to develop many more properties in Texas.
Western Rim has flourished under the leadership of Mr. Hiles, who has demonstrated time and again that hard work, forecasting ability, and the flexibility to undertake opportunities as they present themselves is the recipe for incredible success. He and his companies are positioned to continue their domination of the luxury real estate market in Texas, with plans for future expansion as market trends dictate.