# Almost no equity on Magnolia Street

- Teacher: Ajahn Brahm
- Type: Story
- URL: https://beingmindfulstories.com/stories/brahm-magnolia-street-almost-no-equity
- Themes: beginnings, inspiration, monastery life, humility
- Life situations: starting something with little, looking back at origins

## Synopsis (editorial summary)

When Ajahn Brahm and Ajahn Jagaro looked at the fledgling BSWA's books at 4 Magnolia Street, North Perth, the house was worth about $50,000 and they owed nearly $49,000 — almost no equity. That was the beginning of the society that grew into what they have now.

## The story, as told by Ajahn Brahm (verbatim captions)

Look at this place. If you didn't know where we started from, 35 years ago, 36 years, or about roughly about that, a tiny little house in North Perth, number 4 Magnolia Street, if any of you want to check it out. Should have a little sign in here. This is the start of the Buddhist Society of Western Australia. With Ajahn Jagaro and I, I remember going in there and just looking at, there was no security, no um trying to sort of find out, you know, the the membership list and everything. It's everything was out in the open. So, I looked and said, "Oh, you know, what's our what's our bank account balance?" And how much do we owe for the house? And I remember being so surprised and shocked that the house was worth $50,000. And we owed 49,000 and a bit to the bank. And I said, "No equity at all, basically." [laughter] And that's where we started.

## Teaching point

Great things can start with almost nothing but inspiration.

## Reflection (in the spirit of Ajahn Brahm's talk)

Checking the young Buddhist society's books, Ajahn Brahm found the house was worth $50,000 and they owed almost $49,000. No equity at all. From that shaky start grew monasteries and a thriving community. Great things don't need a fat bank balance. They begin with inspiration and people willing to try.

## Source

- [Energy in our Body and Mind from Inspiration | Ajahn Brahm | 2 November 2018](https://www.youtube.com/watch?v=VWz3LAAj-J0) (Buddhist Society of Western Australia) — watch from 35:17 to 36:23: https://www.youtube.com/watch?v=VWz3LAAj-J0&t=2117s

Other tellings of this story:

- [Transcending Negativity of Our World | Ajahn Brahm | 12 April 2019](https://www.youtube.com/watch?v=H8WL9MQss2o) (Buddhist Society of Western Australia) — watch from 2:31 to 3:17: https://www.youtube.com/watch?v=H8WL9MQss2o&t=151s
- [The Value of Trust | Ajahn Brahm | 10 Feb 2017](https://www.youtube.com/watch?v=xiohzd0zgIQ) (Buddhist Society of Western Australia) — watch from 14:28 to 14:46: https://www.youtube.com/watch?v=xiohzd0zgIQ&t=868s