Money Moves News Success Story August 21, 2020 at 08:30 am

This couple just bought a massive 53-acre ranch for their kids and future generations

Mildred Europa Taylor | Head of Content

Mildred Europa Taylor August 21, 2020 at 08:30 am

August 21, 2020 at 08:30 am | Money Moves, News, Success Story

After 10 years, this couple are now owners of the ranch

As more Black families begin to move into homeownership, a couple have been speaking of their joy after becoming owners of a 53-acre ranch that they will pass down to their children and grandchildren.

Rachel Rodgers, a business coach, and her husband purchased the massive ranch this week, and they took to social media to announce their recent purchase.

“We started our business on September 1, 2010. Many have witnessed our hustle -me in the front, my husband as an epic, ever-present support in the back,” Rodgers said in an interview with Because of Them We Can. “As the culmination and in celebration of the last decade of our hard work, we have purchased this 53-acre ranch.”

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This week my husband and I purchased a ranch on 53-acres. ⁣ ⁣ Two poor Black kids from Brooklyn and Queens — this shouldn’t be our story but it is. ⁣ ⁣ My tenth business anniversary is coming up in two weeks. I wish I could go back to some of my hardest early days and tell myself, “Sis, it’s all going to work out fine.”⁣ ⁣ I wish I could go back to when I stayed up all night to create my first landing page for my very first digital product. I had no idea that night that I was unlocking what would become the key to my becoming a millionaire. ⁣ ⁣ I wish I could go back to those times (there were multiple) when I had just enough money to make payroll for my team but not enough for myself. I’d have to take my big bottle of change from under my desk to the Coinstar machine at the supermarket in order to buy groceries for my family. ⁣ ⁣ After the closing this week, my husband and I walked around the property, passing the stables and the guest cottage. Passing the open meadows and the little river. It felt surreal. ⁣ ⁣ My first thought was, “Wow. We really did that.” ⁣ ⁣ My second thought was, “I am my ancestor's wildest dreams.” ⁣ Here’s what I want you to know: your dreams are within reach. They are possible. They are unfolding even now. Even when you think it’s all over.⁣ ⁣ Stay in the game. And get you a squad who will support you every step of the way. ⁣ ⁣ This 53-acre ranch was made possible by the dream I had 10 years ago to build my own business. Everything I’ve learned along the way, and how to do it, is distilled into what I teach in The Club. ⁣ ⁣ I want to see you celebrate your ten-year business anniversary with some incredible real estate, too. ⁣ ⁣ Actually, why wait ten years? Let’s make it five or even two years — why not?⁣ ⁣ xo,⁣ R

A post shared by Rachel Rodgers (@rachrodgersesq) on

Over the years, the black homeownership rate has been lagging behind that of white families, and this gap has widened since the Great Recession, a report by Prosperity Now said.

It added that in 2017, the black homeownership rate was the lowest of all racial and ethnic groups at 41.8 percent, about what it was when the Fair Housing Act was passed in 1968.

Experts have blamed the situation on affordability. A recent Bloomberg report said renters across the U.S. are unable to find properties they can afford as starter-home prices continue to rise.

Despite these challenges, “it appears that now, more than 10 years after a housing bust that hit black homeowners the hardest, more black families are beginning to move into homeownership,” Jeff Tucker, an economist with real estate marketplace website Zillow, said in February.

The Rodgers can now be added to the growing list of Black homeowners, but they point out that this is only the beginning of greater things for their family.

“There’s more to come because we’re over here trying to change the world and we’re far from done,” Rodgers said. “But now we have this beautiful ranch to enjoy with our babies as we continue to build success for ourselves and those around us.” 

Rodgers further urged her fellow Blacks not to give up on their dreams despite the setbacks. “Here’s what I want you to know: your dreams are within reach. They are possible. They are unfolding even now. Even when you think it’s all over. Stay in the game. And get you a squad who will support you every step of the way,” she said.

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