Andrew Carnegie famously said, “90% of millionaires got their wealth by investing in real estate.” But is that the reality? Red Oak Development Group Research estimates that the vast majority “of all millionaires invest in some form of real estate.”

With a large percentage of millionaires owning real estate, there must be lessons that, once extracted and applied to a traditionally disadvantaged population, will generate upward movement on the economic ladder.

For the majority of Americans, their most valuable asset is their primary residence. But Black Americans have historically been at a disadvantage, given restrictions on land inheritance, redlining, and discrimination in lending practices. Overcoming these historical disadvantages and applying lessons from modern successes to a broader audience is challenging but necessary