of Wall Street in the Black. The film explores the contributions that blacks have made on Wall Street, starting with their history of being traded as commodities and leading up to today.
The increased flexibility has also allowed Duvivier to take an active part in the Dolphin Group, a team of multicultural real estate investors that meets once a month to share lessons and experiences and explore potential investments. Last year, members of the group traveled to Belize, Costa Rica, and Panama to explore real estate opportunities. For Duvivier, the group is an important resource for networking and developing mentor relationships. It also plays into her overall wealth-building goals for the future.
“I’m looking to continue to invest in real estate properties while focusing on the quality of service I’m providing and to acquire more multi-use/multi-unit properties,” says Duvivier.
With her property serving as a firm foundation, she’s well on her way.
To Use Homeownership To Build Wealth
Confidence, perseverance, and commitment have been the key aspects of Duvivier’s wealth-building strategy.
To follow in her footsteps:
Don’t rule out partnerships. It was initially challenging for Duvivier to acquire property because she was constantly being outbid. “I knew I wanted to acquire real estate and I knew I wanted it to be commercial space with apartment rentals,” Duvivier says. To get the property she wanted, she had to save for several years and then pool resources with her partners to start their real estate entity. She was sure to partner with people she knew and could trust.
Flex your risk muscle. Duvivier says the recognition that “God is in control” helped her develop a greater willingness to take risks. She took a mild risk by taking a shell of a building and renovating it in order to stay in her Bedford-Stuyvesant neighborhood, waiting for it to begin to revitalize. Her commitment to her community has paid off, as property values have increased at a brisk pace. Duvivier’s property is now valued at approximately $540,000.
Pay to educate yourself. Duvivier encourages investors to spend money to educate themselves about the real estate market. She suggests joining associations or groups like the Dolphin Group, of which she is a member. Specialized courses on real estate management and acquisition techniques can also broaden your knowledge base and make obtaining property easier.