Orlando, Florida – This week on “Black Men Sundays,” host Corey Murray speaks with Dennis Earls and Michael Pyles, chairman and CEO and vice president of Black-owned real estate investment firm Haltaire Group. Interview with
We've discussed traditional real estate many times on the podcast, and we can certainly not wait to discuss commercial real estate again.
Although the industry seems ridiculously expensive at first glance, Mr. Earls and Mr. Pyles told Mr. Colley that the Hartele Group believes that whether you have $10,000, $300,000 or whatever, commercial He said he is paving the way for him to get involved in real estate.
“Our community has never really been taught how to grow wealth, how to save capital, how to invest capital. We're talking about commercial real estate. You're right, it's… It's not easy. You're talking about a lender or a bank that asks that borrower to take a 25% down payment. So if you do some simple math, if you go and buy that apartment for $1 million; “You're looking at $250,000 plus closing costs, and very few people keep $300,000 in black, brown, purple, blue, etc.,” Earls said. “What we have done at Hartele Group is to provide an opportunity for individuals like us to collectively raise money, and we, as experts at Hartele Group, are able to pool that money into large-scale collective efforts. It's about investing in a home.'' People across the country are paying a respectable rate of return on a quarterly and annual basis. ”
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Mr. Pyles believes that his time at Clark Atlanta University HBCU instilled in him values and values that transcend paradigms in every aspect of his life as a Black man living in America, both professionally and personally. , which he said now defines his role as a human being. Real estate manager.
“Throughout my career, one of the things that really resonated with me and the Hartele Group and all of my partners was that typically in the real estate industry, the majority of investors are not Black. The proof is in the statistics: African Americans in the U.S. only make up about 8% of the total investor population. If you look at it, they make up 64% of all real estate investors, and we're at 8%. There's a huge disparity there, right? So when we lean into HBCUs, and Hartele Group… When we talk about the impact we have on culture, it's about inspiring our people to lean into something that creates generational wealth together,” Pyles said.
You can watch the full interview on “Blackmen Sundays,” Season 4, Episode 10.
black men sunday We talk about building intergenerational wealth. Check out each episode in the media player below.
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