In 2017, the hip-hop rapper Jay Z released the album 4:44 which by all means acclaimed the reputation of being the most transparent and prolific studio albums that he ever released. While sharing details about his marriage to Beyoncé, Jay-z in the most creative style delves deeper into issues like entrepreneurship, why savings are important, and the economic empowerment of the people of color.
Buying Back the Block: the Cure to Gentrification
Artists like Jay-z, Rick Ross, and many others are raising awareness of the decade’s long problem of gentrification and subtle redlining. With this, entrepreneur Lynn P. Smith founded the Buy The Block movement which is the only black-owned platform in the country dedicated to helping communities of color in the nation make an investment in real estate.
The Buy the Block initiative offers every Black American an opportunity to invest from as little as $100 while connecting with other entrepreneurs. The movement offers every person the opportunity to buy a piece of their first block. The number of investors is growing and all it takes is a BlockVestor account
Gentrification and redlining are both practices that have been happening in the U.S. subtly. In the track, The Story of OJ, the rapper sings, “Please don’t die over the neighborhood that your mama rentin,” And advises people to buy the block back. This he says is important because buying back our communities not only builds equity and wealth, it also a powerful force against gentrification. And while investing in the property market can at times feel and seem daunting, Lynn is showing people how to actualize and conceptualize Jay’s invaluable advice and put it into practice through the buy-the-block organization.
What is Buy the Block and why is it important?
The Buy the Block is a crowdfunding platform that has been designed to help communities invest in themselves. It is a great source for investing in private offerings. The organization offers investors the best portal, with a particular focus on low minimums, community development, dependability, customer service, and uniqueness.
“Real estate investment often requires a level of financial commitment that many families just cannot afford. Buy the Block spreads that commitment over a broader base of investors to provide individuals and families with a real equity stake in their communities.”
Many financial experts will advise people that one of the ways to achieve true economic independence is by making sure that their money works for them. Investing in real estate requires huge amounts of investment which most people do not have. However, the Buy the Block movement is reducing that responsibility to make real estate investment more accessible and to everyone.
“By bringing investors together with entrepreneurs, we are not just building stronger communities; we are creating wealthier districts. In that wealth lies real independence.” Lynn.
Marching forward into the future
The Buy the Block movement was first discovered in 2013 by Lynn and it has already made huge strides from its beginning in the toolshed, Cincinnati, OH. When starting out, Lynn had a passion for helping people invest in real estate and also helping them become more financially stable while providing the best resources for her fellow entrepreneurs. This led her to do intense research to create more valuable tools to assists others like her. The Buy the Block movement now serves investors and developers all over the United States and is thrilled to be a part of the crowd investing world and alternative finance industry.
The idea that you can make an investment today with as little as $100 makes Buy the Block an enviable initiative that everyone can be a part of. All that is required of the members is to; find a property, make an offer bring the property to Buy The Block, get the needed funding from other investors if they so desire, and then purchase the block.
With a particular focus on the communities of color, the Buy the Block movement is on track to raise millions of dollars for all the block investors. The movement can manage any project from the concept end, and it aims to develop a large number of construction projects. The Buy the Block movement and its investors intend to achieve by committing their time to get great projects and making it a win-win for all the sponsored projects.
Lynn once said, “Indeed, we have loads of challenges, but I am determined to educate our community and make this work… thanks to everyone out there, that united as one to embrace and support this unique concept.”
The organization’s mission is to “change investing from confusing and frustrating, to an accessible and enjoyable social experience.”