From the 1920s to today, the percentage of Black Americans and other minority landowners has dropped from 14% to less than 2% nationwide. Here’s how real estate expert Chris O’Neal and his wife, Sabrina, hope to change that.
Nationwide — Ten years ago, less than 4 percent of minorities owned rural land, according to a report by the U.S. Department of Agriculture. A decade later, recent news reports indicate that number hasn’t gotten any better.
Determined to defy statistics and build generational wealth for their family, Virginia natives, Chris O’Neal and his wife, Sabrina, recently purchased a beautiful brick home that includes 90 acres of woodland next to Baylor’s Creek that flows from the Rappahannock River in rural Fredericksburg, Virginia.
“This property is significant as it has many facets to generate income and generation wealth for my children. I have taken my kids to the property during the renovation and express to them how significant this purchase is to our family and that it will one day be theirs. This property is a compound, and my family can fish, hunt, and enjoy outdoor living. We plan to offer short-term rental to the house on the property,” Chris said.
Home and land ownership are the biggest contributors to wealth and wealth transfer between generations – and O’Neal knows that. That’s why he’s been selling and investing in property for more than 20 years.
In October 2022, home prices in Virginia were up 4.1% compared to last year, selling for a median price of $402,800, according to Redfin. Even with inflation and mortgage rates at a 20-year high, O’Neal, a money and real estate expert, believes purchasing land is still a smart choice right now.
“The old saying is ‘date the rate and marry the home.’ The interest rates will eventually come down, and you should be able to refinance,” Chris said.
According to Chris, to build long-term wealth, you need to know how to invest in the right kinds of property – and you don’t have to have lots of money to do it.
“I tell people that when you find a great deal, you can get a lender, and the money will come,” he said. “As long as you find a property that has cash flow as well as tons of equity. You want to make money the day you buy.”
Because of his expertise as a real estate agent and investor, Chris, who has been featured on local media and Good Morning America for his money advice, recently launched an eight-week course titled Agent 2 Invest. The course is designed for real estate agents as well as anyone interested in learning effective strategies for finding real estate deals to create generational wealth worth millions.
“Most real estate agents don’t invest. They chase commission checks. I am excited to release the course. I’m giving all my tips and knowledge away I have accumulated through my years as an investor,” Chris said. “I am not holding any information back. The information is life-changing to the participants and will catapult them into a new level.”
The course includes many videos, quizzes, and seven training models that explain how to choose deals that are right for you, tactics and programs used to maximize investing results as well as helpful legal documents used to finalize a purchase.
The course can be purchased at Agents2Invest.com
About Chris “Done Deal” O’Neal
In addition to his licensing as a real estate agent and his investing activities, Chris O’Neal offers online education opportunities to real estate agents and others interested in learning more about how real estate can serve as more than just a source of eventual equity to be sold.
“People are generating wealth through real estate, and an investment property like this makes you self-sufficient,” he explained. “You create memories with your kids there, but you also use the information that is available today that was not available in the past to make that property an income-earning asset.” Chris says his priority is making sure this information is available to everyone who needs access to education and resources for investing in real estate.