As 2024 draws closer, one of the most common goals for the new year among Black travelers is to generate more income. Many people have interests and aspirations related to investing–some, specifically in international real estate–but aren’t sure how or where to begin. It is commonly believed that this type of endeavor requires a huge initial financial investment. However, Schelo D. Collier, the founder of Black Women Invest, says this is not necessarily the case.
“There are many financing options available that can help you buy abroad,” the Miami native explains. “Take Ghana, for example. The country allows visitors to use their income and American credit scores to qualify with banks there. Getting started doesn’t require a lot of money; most people just need direction and a little hand-holding.”
Other misconceptions that may hold people back from investing overseas include the notion that it is unsafe or too complicated. Collier says that though each country has its own regulations, they typically make significant efforts to safeguard foreign buyers’ interests.
“While the process may require more work than in the U.S., it is far from impossible,” she shares. “There are several resources available to help you.”
Having started her company after noticing the lack of representation among Black women at investment-focused conferences, Collier is proud to be able to be one such resource for her community.
She created Black Women Invest to empower women of color to take control of their finances and build generational wealth. The company has resources and programs to help women learn about investing, connect with other investors and grow their portfolios.
International Real Estate Tours
Fueled by Collier’s unwavering belief that all Black women can become exceptional real estate investors, Black Women Invest began offering real estate tours abroad to help members explore investment opportunities in different countries.
“Real estate can be a powerful tool for Black women to achieve financial security and build wealth,” she explains. “It can provide a steady stream of income through rental properties and appreciation over time. This can also help Black women accumulate wealth that can be passed down, creating a lasting legacy for their families. I believe that by introducing more Black women to investment opportunities abroad, we can empower them to make their money work harder for them and potentially retire comfortably, enjoying the financial freedom they deserve.”
The tours are a great way to learn about different markets, meet local experts and network with other investors. Collier and her team do all the planning and help travelers get the necessary visas and paperwork to go abroad. Throughout the process, care is taken to guide members and, when needed, connect them with knowledgeable, experienced agents and attorneys.
Exploring Opportunities Around the World
“Our 2022 real estate trip to Ghana was such a success that we’ve expanded to include additional destinations that align with our commitment to fostering safe and thriving opportunities for Black people,” Collier shares. “We’ll be revisiting Ghana in 2024, along with two new destinations–Bali and Italy.”
If you’re wondering about what amount of initial investment is typically required to invest in international real estate, the founder says it varies depending on a variety of factors, including the destination, property type and current market conditions.
“In Ghana, we’ve seen homes ranging from $70,000 for three-bedroom single-family houses to $500,000 for luxurious homes in gated communities. The price also depends on the neighborhood, whether you prefer the city center, suburbs, or up-and-coming areas,” explains Collier.
“In Italy, homes are selling for as low as €1, but these typically require extensive renovations. We survey our tour participants beforehand to understand their interests and budget, ensuring they see properties that align with their preferences. These trips are also ideal for those seeking expert insights into various overseas markets, even if they’re not yet ready to buy. Consider it a ‘manifestation trip’ to visualize your future real estate aspirations.”
For more information on Black Women Invest’s international real estate tours, visit blackwomeninvest.com/experiences.