There’s an access and opportunity gap that exists and that is one of the biggest barriers to closing the wealth gap in this country. I decided to shrink this gap in my own life.
I started out 2019 in the market to purchase a 5-10 unit small multifamily at best and ended the year with an offer on a 168 unit apartment building in the 7-figure range. I was eventually outbid on the offer, but having the confidence to pursue a large 168-unit multifamily was all because I scaled my thinking.
Cultural preservation and evolution is the right mix in addressing gentrification. However, when the people in the community aren’t participating in the economic opportunities, it’s almost impossible to expect outside investors to preserve the fabric of the community. In this episode of the Let Us Prosper series, I share how we need to reverse gentrification by moving back into the community and owning assets along the commercial corridor.
I bought my first few investment properties at 24, and being young, overly optimistic, and with a lot of disposable cash ended up being lessons that would help me become wiser and more prudent as a more mature investor. This episode in the Let Us Prosper series shares some of the lessons that I’ve had to learn.
Money and opportunity is everywhere, but before we can grab hold of it, we’ve got to change our relationship with money and the responsibility we have to it. This episode of the Let Us Prosper series is about recapitalizing marginalized, economically disadvantaged communities by shifting our collective approach.