Building wealth in real estate
From the Many Mansions Properties website
Mark Allen is currently a full time Real Estate investor in the Dallas/Ft. Worth area. He is at war against poverty in the African American community, using Real Estate as his weapon. Mark believes that by sharing his business experiences and those of other African American investors, he can simplify the journey to Real Estate wealth for others.
Mark majored in Real Estate at the University of Texas at Arlington where he was elected the founding president of the Student Society of Real Estate. He received a fellowship to travel and research Real Estate in West Africa. Mark has been a bird dog, mortgage loan processor, mortgage loan counselor, loan officer, and a mortgage underwriter.
At Many Mansions Property Co. our mission is to empower young African Americans across the country to become business and property owners, smart investors, and community builders by:
Removing fear and destroying myths about money that are destroying our communities through education in layman’s terms
Creating methods of alternative income outside of corporate jobs that increase passive income
Establishing a financial system that discontinues the long term reliance on public assistance
Simplifying Real Estate investing and other business endeavors
Practicing the principle of sowing and reaping in all aspects of life
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Here’s more from another source:
It seems everyone these days! It’s hard to turn on the television after 10pm, and not catch an infomercial about becoming a real estate millionaire-quickly. These infomercials advertise programs that claim to show you how to purchase and own real estate WITH bad credit and NO money down, just by buying their product and following these few tips…in addition to sending in a $5000 check.
Is this really necessary to get your feet wet in the real estate investing market?
Definitely not! Although a certain amount of education is a necessity, this education can be a combination of the following: (more…)
March 29th, 2007 at 7:29 pm
OK, I just read somewhere that Blacks think investing in real estate is a better way to build wealth than investing in the stock market. That line of thinking is what is holding back the growth in Black wealth.
Having seen my 1st home go from $75K in value, to $110K, to $70K and then to $90K, I strongly question the idea of building long term wealth using real estate unless it’s long term vs. flipping.
March 30th, 2007 at 10:30 am
DarkStar has invested in the wrong location. Look at the front page (online ) article in the NY Times yesterday about how even Omaha Nebraska is experiencing a rise in values.
March 31st, 2007 at 11:14 am
DarkStar didn’t invest, DarkStar chose a home to live in.
People seem to have forgotten the home devauluation of the mid 90s.
April 1st, 2007 at 11:52 am
(My earlier comment did not post ) The best thing that you can do for your financial future is to buy a well located house or multi-unit every couple of years or so until you retire. If you look at the valuation of properties in San Francisco, or San Diego, for example, since the 90’s devaluation, you can see how well a person who bought and held would have done. Or if you prefer, look at the same valuations since 1975 until now, and see the potential increase in wealth.