By JOHANNA FERREIRA, Popsugar
Amara La Negra is doing the most these days. Not only can we expect to see her in season four of Love & Hip Hop Miami, which returns on Monday, Aug. 23 at 9 p.m. ET/PT, but the Dominican-American artist who hails from Miami, FL, has been exploring quite a few new projects lately.
Many of us first learned about Amara in 2018 with her breakout role on the reality show. The singer not only drew us in with her musical sound — which includes a mix of R&B, hip-hop, and reggaeton influences — but she also won our hearts with her commitment toward advocating for Afro-Latinx communities and boldly speaking out against the lack of representation, colorism, and anti-blackness that still permeates Latinx culture. While her activism and music career still take center stage (she also recently started a podcast with iHeartRadio called Exactly Amara), this renaissance woman has added a new venture to her plate — real estate. After weeks of teasing us on Instagram about the news, she recently announced on Instagram the development of her new real estate business, Amara Residences, in the Dominican Republic. But Amara isn’t just trying to make business moves; she wants to inspire Latinas to build generational wealth.
Located in Las Terrenas in Samaná, Dominican Republic, Amara Residences features 48 apartments and 12 penthouses at the starting price of $175,200 for a two-bedroom, one-bath. Shortly after deciding to embark on real estate, she partnered with her real estate investor Allan Chavez of Soluciones Allan to develop Amara Residences. The two are not only business partners but have since become a romantic item — you can catch a sneak peek into their relationship on the new season of Love & Hip Hop Miami. Her mission behind it all is to build the generational wealth and financial stability the previous generations in her family couldn’t provide.
Investing in real estate and homeownership is one of the best ways to build generational wealth in this country. In fact, according to the National Association of Hispanic Real Estate Professionals (NAHREP), more and more Latinxs are buying and investing in property with more than eight million Latinx new homeowners contributing $371 billion into that national gross domestic product. However, historical barriers still result in wide generational wealth gaps existing between Latinx and non-Latinx Black communities in the U.S. Not only are most Latinx and non-Latinx Black families less wealthy than typical white families but they are also less likely to own financial assets like homes. There are so many things that contribute to that from immigration status and low wages to historical legislation barriers like redlining and institutionalized racism. But this generation of Latinxs is understanding that in order to gain wealth for their families and generations to come, they need to educate themselves on financial literacy. They are understanding that financial literacy is crucial to our well-being. In order to truly be well, our finances need to be in order. Because struggling to pay the bills and being overwhelmed with debt isn’t at all good for our overall well-being.
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