MOM GOES HALF ON AN INVESTMENT PROPERTY WITH DAUGHTER FOR HER BIRTHDAY

Kezia M. Williams is founder of The Black upStart, an organization that trains Black entrepreneurs, and creator of the “My Black Receipt” movement, which is dedicated to encouraging people to spend their money with Black businesses by asking them to upload receipts of their purchase.

Recently, Williams took to social media to share some solid financial tips, tweeting “Every Black Family should own an LLC.,” along with another tweet listing things that every Black family should own which included land, real estate and an investment circle. To put her money where her mouth is, Williams revealed that for her birthday, her mom went half with her to purchase an investment property that will live on in their family’s trust. She went on to explain that over the Thanksgiving holiday, her family decided to start an LLC for the sole purpose of purchasing physical and digital real estate. null

 

“Over Thanksgiving I sat down with my aunt and cousins and we established a Family LLC…every month, 10 members will contribute $250 and three will contribute $1,000 monthly. Our primary interest will be buying multi-units in Richmond starting end of 2022, where our legacy has cultivated over five generations of Faisons,” Williams wrote.

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Williams said that her mother is one of 8 children and with each of the siblings and their children now being adults and acquiring a certain level of skills, from finances to carpentry and security, it just made sense to cultivate their resources to expand their financial capacity as a collective. Williams called her mother a “first generation wealth creator,” who prioritized making each of her siblings home owners.

She continued to praise her mother’s efforts, writing, “The first to obtain degrees, own real estate, sell real estate, leverage commercial property, pay for part of my college education with bonds and investments, establish a trust and achieve an 850 credit score.”

The new investment property Williams now shares with her mother will be the first under the family’s Faison Estates. She encouraged everyone to use the holidays as a time to gather with intention and really map out collective goals as Black families. 

“The holidays are for leveling up your family wealth. The holidays are for bold conversations about family cash flow,” she wrote.

Original News Source/ Written by: BOTWC