How To Build Wealth

Repost Fact Check: JHB and his founded organizations have raised and deployed more than $4.5 billion into underserved communities. He has never inferred that HE is a billionaire, to anyone. He has never published his net worth, and wouldn’t.

The original posting group meant well, but the headline is incorrect.
The CONTENT is 100% correct.

THE ESSENTIAL MESSAGE:

Family money meetings need to be a *weekly* thing. Let’s talk: What does it cost for us to live? What’s the budget? Remember, anyone working an hourly job can become a millionaire with the right mindset.

Step 1️⃣: Buy that house in the hood.
Step 2️⃣: Rehab it.
Step 3️⃣: Rent it.
Step 4️⃣: Hold it.
Then repeat! Wealth is built while you *sleep*.

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[Kseniaramesh]

People are really struggling to build wealth these days. With low-paying jobs, inflation, and high rents, it feels like saving and investing is out of reach for so many. Even middle-class Americans are finding it harder to grow their net worth, let alone achieve financial independence.

[BigChurch-ck]

All the “hood” houses in my town been bought up by rich people, renovated and rented per room. Thanks for the great advice of 20 years ago 😂

[poppilovice]

Ive been having family meetings with my children for over a decade now. Now ive included my Grand. This is real knowledge and a low key blueprint

[nancygielow]

This is exactly what I did !
Server in a low class restaurant and raising 3 kids and becoming a millionaire.
For God be the glory.

[alhamilton]

the level of discipline to NOT floss is the biggest challenge in the hood. It's not what you make, it's what you keep

[princessleah]

I bought thee worst house on my block. It is now thee best house on the block❤ Thanks for the free game, im moving on to the next crib💪🏾

[jazvirdi]

I say this over and over again, yes he is right, you can pull equity out of the house after you rehab it. But what all this “ real estate “ gurus keep forgetting to mention is you still need an income to justify borrowing every time you purchase another property. Unless you have the capability of purchasing all cash. With each house you purchase that has a mortgage on it will increase your debt service ratio making it harder to qualify for any kind of loan afterwards.

[Toranna-cg]

My Grandmother did it all by herself ! It is possible 🙏.. thanks 🙏👍

[captcontrol]

Great advice but for most families there is always that one sibling trying to get everybody together, that was me in 2003 but nobody wanted any part of that. You just got to move on and do for you until they come around if ever.

[sbarksdale]

In 2010 God blessed me with a mentor and today I am a first generation millionaire in my 40s. I invested in real estate and stocks while working a salaried job making $60k yr in 2010 up to $250k yr today in gross income. Even though my income increased annually my lifestyle and expenses did not. I increased my investments as my income increased. My pre teen children also invest in the stock market via a custodial account. I require them to save or invest 50% of every dollar they earn or receive for birthdays and Christmas. As parents it's our responsibility to teach our children about finances and all the valuable things schools do not. A good man leaves an inheritance for his children's children.

[chrisvasquezsr]

Very important to talk. If you do what is easy your life will be hard, if you do what is hard your life will be easy.

[PastMasterSX]

This is definitely true for me and my lady, as we are living proof that it only takes a three-unit and a six-unit property to achieve a millionaire net worth. The most important thing he left out, however, is that one must increase their income and be comfortable living in their investment properties. The real sacrifice is not caring what people think as long as you know you are both financially stable; fuck being bougie, stay in your lane.

[TheLovely]

He is dropping knowledge. I've done it making less than $30, 000 a year. You have to change your mindset and crawl before you walk.

[alpheushill]

Lets go, really out the mud 💪🏾👑🔥🔥🔥💯💯💯💯💯💯💯💯💯💯💯💯

[AFRO]

Just wish this was true nowadays. House are $800, 000 minimum. Just can’t do it like that anymore. The house I grew up in was $38, 000 when my parents bought it. They divorced so it sold, now it’s worth $980, 000!! How the hell are people suppose to afford that!?!??

[judithscales]

SOME OF MY family was not intelligent enough to work together, tried this 15 years ago, some folks are SLAVES FOR A LIFETIME . Trying to build generation wealth now, and the HATERs are sickening

[R_Jon]

I agree with the family budget and transparency talk. I don’t agree so much with the strategy of buying houses. I have seen a lot more wealth grown, and much safer, with the stock market vs. the housing market, but I totally think that open communication with the kids is awesome!

[DanielPvb]

In this market the equity we built over the past 5 years doesn’t even begin to touch a down payment on an upgrade.

[highendtrends]

If black and Hispanic families could get along we would do it, but the fact is we can’t. It be your family that is the first to let you down.

[ethanrich]

Good luck flipping a house today. Single and even multi families have no profit margin for flips now.