I have owned my home on Madison’s far Eastside for twenty years. But according to Wisconsin Policy Forum, just 15% of Black households in Madison own their homes, making Black Madisonians about one-third as likely to be homeowners as Black Americans as a whole. If Black Madisonians are not owners, then 85% are renters.
So the question I have is, “Why don’t more Black Madisonians own rental property?” Owning rental property creates housing opportunities, stronger diverse communities and generational wealth for families which in turn creates a stronger City of Madison/Dane County for everyone to live. The disparities of homeownership make this goal for me imperative.
So how can this be accomplished?
First, it is my goal to purchase an income generating property in 2023. This property can be located in Madison or Dane County, however, other locations will be considered. Multifamily, duplexes, condominiums, and four-plexs and AirBnB opportunities will be considered for investment.
Second, I propose that a group of like-minded investors purchase a property, several properties or AirBnB investment opportunities? I have heard concerns to the barriers of investment like financial issues, limitations or liabilities, however, there’s more to gain. Creating a strong network of like-minded investors would create even greater opportunities and perhaps generate more capital to purchase greater investments.
In sum, the goal of Johnny Winston CARES Future Assets is to purchase income generating property. Doing this will strengthen the community in the area of purchase; create housing opportunities and create generational wealth for the Winston family.