Mother, Veteran, Entrepreneur, and Real Estate Investor Jessica A. Daley is passionate about building wealth and property in urban communities. This is a difficult problem that requires a multi-faceted solution.
Gentrification is the process of urban change in which a city neighborhood transforms from low to high value in a short amount of time, usually over several years. Residents of gentrified areas are frequently forced out by rising rents and costs associated with urban development.
Gentrification in urban environments can lead to displacement and homelessness of some. Gentrification is an issue that causes communities to feel more isolated and much less represented by their elected officials.
Gentrification has long been associated with:
- Changing demographics
- Loss of culture and community support systems.
“My goal is to address this issue by building wealth in our communities. To do this, I plan on focusing on the development of three areas- property, wealth, and mindset.”
Jessica’s areas of expertise include neighborhood renewal and rehabilitation, as well as filing and rehabbing vacant properties through her nonprofit. She and her team also provide assistance with purchasing and refinancing to make homeownership more accessible for current residents. They’re also committed to the development of new housing and commercial structures in the neighborhood.
“Once I became a real estate investor, I realized gentrification was not happening exclusively because of the investor-our goal is to simply buy low and sell high. The real cause of gentrification is the direct correlation between people of color and poverty.”
Community Property Development
Helping the community develop property is one piece to combating gentrification. Property involves helping people own assets, assisting people to maintain their assets (home purchase and refinance), and developing vacant commercial property. Building wealth by owning property is a crucial component to being able to “buy low and sell high.”
As a licensed loan originator, Jessica educates and helps people own their own homes. She is also a certified speaker and available to speak at schools, corporate offices, and other events to address the mindset piece.
Jessica’s areas of expertise include neighborhood renewal and rehabilitation, as well as filing and rehabbing vacant properties. She and her team also provide assistance with purchasing and refinancing to make homeownership more accessible for current residents. They’re also committed to the development of new housing and commercial structures in the neighborhood.
In dense cities, one of the biggest issues facing residents is the high number of low-income households. Rather than looking to government agencies for solutions, which cap how much money a family can make in order to preserve their benefits, they seek for methods that will raise the average household income.
Raising a community’s average household income helps current residents and attracts new residents and businesses. This means trying to increase the number of successful entrepreneurs in the neighborhood, working to raise local wages by encouraging more people to start their own businesses or find higher-paying jobs nearby or helping existing business owners create more opportunities for themselves and their employees.
Community Wealth Building
Building wealth involves creating more job opportunities, more access to entrepreneurship training and coaching, financial education, and other educational opportunities. Increasing job opportunities is a vital part of increasing household income. An important factor in creating job opportunities is supporting small businesses.
Many people are unaware that there are grants out there that can help small business owners with initial costs or other expenses. These grants have saved countless lives and have gone a long way towards empowering entrepreneurs.
By funding businesses directly, people can help drive down unemployment rates and bring more money into their communities. Support from the government may not always be reliable, but by investing in local companies, you make sure they’ll always be around if something goes wrong.
Education is a crucial part of increasing job opportunities, in turn increasing household income. Providing opportunities in financial literacy and entrepreneurship education is a way that communities can empower themselves from the inside out. Educational opportunities can be offered through:
- Public schools
- Community centers, and
- Other agencies in the area.
A big part of building wealth is encouraging people to become self-sufficient. Even if they can’t afford to start their own business, it’s important to teach people how to make wise decisions with their money. Financial literacy goes a long way towards helping families feel more empowered about their futures and gives them the tools necessary for financial independence.
While there are several options available when it comes to real estate investing, one that continues to rise in popularity across the US is multifamily property investing. Multifamily properties offer several advantages over single-family homes for property investors looking for steady cash flow every month.
Jessica and her team support in making resources available to pursue entrepreneurship. They’re committed to giving access to entrepreneurial skills and training, as well as market opportunities through their community development corporations. Encouragement to become entrepreneurs will give residents the opportunity to take their lives into their own hands and create a better future for themselves.
“Finally, the mindset piece is where the motivational speaking comes in. It is important to get people out of the mindset of ‘surviving’ and into the mindset of thriving.”
The most crucial aspect of establishing a community is the people themselves. New constructions are meaningless if they do not have the correct attitude, education, and motivation. Jessica provides a range of services as an Independent Certified Coach, Teacher, Trainer, and Speaker for John Maxwell’s Team.
She brings this knowledge through motivational speaking at schools, corporate events, churches, and other venues about entrepreneurship, wealth building, and goal-setting real-life examples from her own experiences.
More information about her nonprofit and how to support it is located at www.JessicaADaley.com.
Media Contact: Jessica A. Daley
Company Name: MBJ Wealth and Community Development Corporation