Let's talk about our mission.
Updated: Dec 27, 2020
Migrating to the United States in my childhood was most definitely a tough culture shock. Schoolmates made fun of for not being able to speak English and of my little afro. Kids are cruel, but they are a reflection of their parents and their parent’s upbringing. For me, thanks to my social awareness, it put a large chip on my shoulder. It also drove me to associate myself with Black and Latino crowds and causes.
As I progressed professionally, I often went back to visit with old friends and was always struck at how stuck they appeared to be. Then I started to wonder, what is going on? Here I was, getting stacks, working in my profession (electrical engineering) and flipping houses, and here they were, barely making ends meet and working dead-end jobs. The words of my guidance counselor resonated. Did she “guide” all of them away from their dreams? Why?
Median Wealth Of Black And Latino Families Could Hit Zero By The Middle Of The Century
In 2017, Erik Sherman, a Senior Contributor of Personal Finance at Forbes, published an article with a study on a very disturbing trend. We typically describe middle class status in terms of income. But, if you change the definition to wealth, meaning you'd need between $68,000 and $204,000 in household wealth —White households have nearly 8 times as much wealth as Black households and 10 times as much as Latino households. Black and Latino families now have to earn two to three times as much as White families to catch up.
The Racial Wealth Gap: Addressing America's Most Pressing Epidemic
In 2018, Brian Thompson, a Senior Contributor of Personal Finance at Forbes, published an article studying the wealth gap between races in America. What I love about this study is that it gets to the number data, and not opinion, of system racism. Regardless of political affiliation, I encourage you to read the article as it is full of data points and other statistics. One of the biggest takeaways: by 2020 (just two years removed), the median white household will own 86 times more wealth than its black counterpart, and 68 times more wealth than its Latino one.
If those statistics don’t make you cringe, I don’t know what does. I look at my kids’ faces, I look at my nieces and nephews, cousins, friends, neighbors… I can’t help but get goose bumps. Without proper guidance, are they all destined to fall into this trend of consumerism? We owe it to ourselves and future generations to start correcting this problem now.
Not on my watch. – John Henry
Without programs specifically targeting people who don't have wealth and need to build it, the country could become even more polarized by wealth inequality. Aside from its obvious inherent issues, such a direction could undermine the economy. If the median wealth of a majority of Americans is zero, there will be little to drive the economy as a whole, and that is a bad prospect for everyone.
What we are doing about it:
Spread the word. As often as possible, I like to engage my friends and associates in conversations such as this. First, this makes them aware of the trend. Then, it plants a seed of action. The idea is that they can then spread the word to others. I also like to speak at events about the topic, motivating the youth to open their minds to this reality and to take appropriate action.
Financial education. The core focus of our educational seminars are women and people of color. We teach professionals that look like us about methods to save, then invest that savings to build wealth. I like to live by the 75/15/10 rule: 75% of your income is living expenses, 15% is money to invest and 10% is savings. They key to the savings account is to have 6-months of expenses in cash in savings, then put every other extra dollar to investments in assets. Only add to your savings if your expenses go up or you are in crisis. Every dollar after your savings is full needs to be invested. *I am not a financial advisor*
Another one of our Ten15 Capital passions is helping feed and educate immigrant communities. This takes shape in very many different forms, such as paying for several families groceries to handing out backpacks with school supplies. I like to take advantage of the attention and speak to business owners about the power of real estate while we’re out in the community. Our causes are clear. In conclusion, one must first change before changing the world around them.
What does this have to do with Real Estate investing?
What does this have to do with Real Estate investing? Everything, my dear Watson! If done right, Real Estate investments provide the safest path to curbing those trends. The more people we can bring on to this train of opportunity, the harder the punch will be. The more people we can impact financially, the stronger the force will be. Just like those statistics show, it's all about numbers.
What are we doing about it:
Inviting you to invest. We found what we consider to be the best kept secret for building and retaining wealth. This is commercial real estate, also known as multifamily real estate or apartment complexes. It’s the classic asset versus liabilities puzzle, yet, it is very simple. It is not gambling on an emotional and unpredictable stock market. It is investing on a stable growth asset that you can drive to and touch. This can create cash flow to live off of, grow your retirement accounts, or simply grow your investment account so you can do this again and again!
Generational wealth. Our target is to help you create generational wealth with us as we are doing the same. Every dollar you make needs to have a job. A spending dollar, a savings dollar or an investing dollar. Our personal model is to save at least $25k, then invest in real estate. Fill the bucket back up then reinvest. Over and over.
Note: I am not a financial advisor nor a tax professional. I am just your friend looking out for you.
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We are Ten15 Capital, and we are innovating the world of apartment complex investing. We create lucrative opportunities via syndication or joint venture project. To learn more, please go to our website: www.Ten15.co