Buy the block is a crowdfunding intermediary platform connecting real estate developers seeking to crowdfund any type of property. The buy the block back movement is one of the only black-owned platforms in the country dedicated to making investments in real estate, as a group, more accessible. With the focus on the black communities around the nation, Buy the Block is currently on track to raise millions of dollars in funding for development projects in communities of color.
“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,” Stated Lynn P. Smith. With a team of sound and highly respected professionals, Buy the Block is on a mission to change the face of crowd-investing real estate. By keeping each investor informed through the provision of regular updates, the company continues to endear itself into the heart of investors.
The Role Rap Music Plays
:”x- livin’ Rich and Dyin’ Broke” – Jay-Z
In the track “The Story of OJ,” the retired street-hustler-turned-music-artist stresses the importance of ownership as a means to financial freedom. “Please don’t die over the neighborhood that your mama rentin” he raps. That one powerful lyric advises hustlers not to risk their lives over property that is either owned by the government or other; rather, Jay tells them to use their earnings to buy the block real estate and buy back to their communities.
One of the advantages of the buy back the block movement is that it builds equity and wealth for the community but it can also be used as a tool to stop gentrification in urban areas from pushing the minority communities and the working class folks out of prime real estate neighborhoods.
While investing in real estate can be intimidating especially factoring in all the risk factors, Lynn P. Smith is showing people how to put Jay’s highly valuable advice into practice, through her organization, Buy the Block.
Educational Objective of the Buy The Block Movement
“Buy the Block: A Guide to Building Your Real Estate Portfolio,” which teaches millennials to buy investment properties as a means of financial security. It projects that it will eventually change the face of crowdfunding real estate investing in America by taking on more significant projects and contracts. Another goal is to curb gentrification by empowering African Americans to purchase property and remain in their communities.
How the Buy The Block Works
The buy the block back allows investors to make debt or equity investments in opportunities that were historically difficult to access. Thanks to the Regulation of Crowdfunding rules promulgated by the Security and Exchange Commission (SEC), under the JOBs Act, buy the block can create a community revolving around its web-based investment platform geared towards making investing in real estate easier for more investors. It presents an opportunity to invest with other connected investors and provides added benefits of giving each investor individual ownership on the “block.”
The buy the block real estate works by creating a BlockVestor account which is free and with it, you are able to access investment opportunities that are in offering and that have been vetted through the buy the block screening process. With the BlockVestor status, you can now vote on the properties you wish to invest in before actually making the commitment to buy. Additionally, if you have any questions or concerns with the buy back block movement, you can raise them directly to the Block developers and get answers to important questions.
Unlike with other investment opportunities, Block Offerings have low minimums; starting investment is usually around $100-$2,200. After you have a BlockVestor’s account, there are certain perks including the ability to utilize the Block’s Learning Resources, review an investment thoroughly at your own convenience among many others. Every Block Offering features detailed information and a profile of any companies or individuals involved in the Block Offering.
You also able to finalize your investment if you decide to invest in a Block Offering, you can easily and securely sign legal documents and submit payments for your investment all on your portal, as well as be able to monitor the fundraising progress for Block Developers to receive investment funds (and thus finalize your investment), the Block Offering must meet a certain minimum amount.
Lastly, with the BlockVestor’s account, the Buy back the block movement will keep you updated through the email and through your account’s dashboard as to the progress of all Block offerings.
