Updated: May 19, 2020
Homeownership is a secure way to build wealth. For many Americans, homeownership is an instrumental way of creating generational wealth for their families. For Jamisa McIvor-Bennett, founder and CEO of Rosebud’s Investments, her introduction to ownership began with a conversation with her grandmother, which ultimately led her to become a real estate investor at the age of 19.
After a conversation with her guardian about being next in kin to own and manage the family home, Mclvor-Bennett was added to the deed. Months later, her grandmother passed away unexpectedly. “I took what she said to heart…to be responsible and to help my family because this [family home] is all we had. That kept replaying in my mind over and over again,” says Mclvor-Bennett. At that time, she worked as a cashier and could not afford home renovations on her own, so she had to make an executive decision.
“In the back of my mind, I kept hearing my grandmother say, ‘this is all we have’, and one day I asked my myself, ‘why is this all we have?’” and that question led to her selling the house for $152,000. After doing research of her own and speaking with financial advisers, Mclvor-Bennett decided that investing her earnings into real estate would be the best way to never have to work for someone else again. BUILDING WEALTH REQUIRES A MILLIONAIRE MINDSET
Mclvor-Bennett’s humble beginnings taught her how to be conservative with money and wise in her dealings. “During that journey, I ran into a guy who was a real estate investor. That was my first time making the differentiation between an investor and a little estate agent,” says Mclvor-Bennett. Read more ...
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