Hispanic Realtors Identify 10 Disciplines To Build Wealth


, ,

The National Association of Hispanic Real Estate Professionals® (NAHREP®) has introduced 10 key practices that Gary Acosta, NAHREP CEO and co-founder, has created as one of the initiatives for the Hispanic Wealth Project (HWP). The HWP was launched by the NAHREP foundation with the aim of tripling Latino household wealth in the next 10 years in response to the dire economic state of Latinos after the housing crisis. “There is a need for knowledge and discipline around the subject of wealth in our community.” says Gary Acosta. “NAHREP believes our members can play an integral part in addressing the wealth gap by applying these principles to their daily lives and spreading the word in their communities.” The disciplines are as follows:

  1. Have a mature understanding of wealth and prosperity – because the one with the most toys usually loses
  2. Be in the top 10% of your profession – because being good is not good enough
  3. Live below your means and be ready for the next recession – because downturns are a regular part of our economic cycles
  4. Minimize debt – because it is the biggest enemy to wealth
  5. Invest at least 20% of your income in real estate and stocks – because they are the best and safest ways to build wealth (investing in other businesses does not count)
  6. Know your net worth including the value of your business – because you cant improve what you don’t measure
  7. Be politically savvy – because public policy matters
  8. Be physically fit – because wealth without health is meaningless
  9. Be generous with people who are less fortunate – because philanthropy feeds your heart and spirit and gives more purpose to your work
  10. Be active in the lives of your family and children – because familia is central to who we are

About NAHREP The National Association of Hispanic Real Estate Professionals, a nonprofit 501(c) 6 trade association, is dedicated to advancing sustainable homeownership among Latinos by educating and empowering the real estate professionals who serve them. NAHREP is the premier trade organization for Hispanics and has more than 20,000 members in 48 states and 35 affiliate chapters.