Our economy seems to be all over the place as of late, however, real estate is a key industry that continues to thrive.
By providing investment opportunities in communities that are often overlooked, National Real Estate Day on May 17 celebrated how the industry and its leaders are changing the lives of those around us.
Former NFL running back Warrick Dunn has set his mark in the real estate industry for years. Always passionate about giving back to the community, Dunn started Warrick Dunn Charities in 1997 with a program, Homes for the Holidays in Tampa, Florida, that furnished homes for needy families. That same year, he handed over the keys to the program’s first fully furnished home. The program expanded to Baton Rouge, Louisiana, Dunn’s hometown, a year later. But, he felt more needed to be done.
In cities nationwide, affordable housing is scarce, especially in Black communities. Data from
Lending Tree show Atlanta is the seventh city in the nation with the lowest percentage of Black homeowners. As a former Atlanta Falcon, Dunn, 48, decided to step up and do something about that. He created WD Communities, a nonprofit on “a mission to break the cycle of generational poverty by assisting communities through a housing-first approach,” according to the website.His nonprofit believes strongly in the value of partnership, and with a strong stigma surrounding homeownership in the Black community, Dunn hopes to change that narrative. To create generational wealth, he believes “it starts with homeownership, but there are many factors that contribute to parents understanding that they can create a stable environment for their kids,” Dunn told Black Enterprise. “It’s education and understanding the steps one has to take to put themselves in a position to purchase a home. We try to educate and want families to create better habitats to sustain for the long term.”
WD Communities builds housing for families close to 80% below the median household income level. They also provide programs for financial literacy, health and wellness, and workforce development for underprivileged communities. Having a strong love for Georgia and seeing a need for housing, Dunn partnered with Hawthorne Welcher of the Augusta Housing Authority after meeting through a mutual friend. He pitched his concept and got to work. “For years, everyone has thought I was building homes for families based on my charity’s work providing down payment assistance,” Dunn remembered.
“I started exploring the idea of building housing for families. I explained my vision and how I wanted to expand what I was doing at the charity and help families with housing and not just single-parent families.”
Being a successful homeowner takes lots of education and a hands-on approach. Dunn remembers being an investor
early on in his career, taking calculated risks, and described his approach as “just putting money up, watching, and learning.” As time passed, he realized it’s more about investing your time. “Today, I am a much more hands-on investor,” Dunn said. “I like to go over the financials, strategize, analyze, and actively lead business growth.”With all the information at your fingertips because of social media, a person can get sucked into false information that could put an investment at risk. It also can cause aspiring real estate agents to use phony practices. Dunn advises those taking advice from social media to be cautious. “You have to understand the landscape, and that includes data to help drive your decisions. Most importantly, the investor needs to see things for themselves,” Dunn said. “You also have to have people on the ground that know and understand your end goal.”
Dunn’s end goal has
moved past Georgia, entering Florida. Recently, he partnered with the Big Bend Habitat for Humanity in Tallahassee to help single parents achieve the goal of first-time homeownership. The Tallahassee Democrat reports the families were surprised with a $5,000 down payment assistance check each from Warrick Dunn Charities and $10,000 worth of furniture from Aaron’s. As a Florida State alum, the state’s capital always has a place in his heart. “Tallahassee is always going to be home for me and played a vital role for my development and growth, Dunn said.For Atlanta, WD Communities is coming in strong to develop housing for those in need. Partnering with local municipalities, Dunn and his team hope to continue a legacy of stability in Black neighborhoods. “We are creating a model that can be replicated in other markets but also includes wrap-around services to help create that long-term stability that is needed.”