A California father gave his son a 13th birthday present. This present will benefit your family for years to come. It is an opportunity to build wealth for generations to come.
Faheem Muhammad, a Los Angeles-based security director and co-founder of a real estate investment firm, gave his eldest son 40 acres in San Diego County as a rite of passage.
“The Black Community was promised 40 acres of land and mules, and we thought we could put it to good use,” Muhammad told USA TODAY.
He referred to General William T. Sherman’s Special Field Order No. 15, issued in 1865 near the end of the Civil War.
An order later overturned by President Andrew Johnson would have allowed newly emancipated families to receive plots of 40 acres. out of 400,000 acres To lease mules from the U.S. Army, according to the Georgia Historical Society.
Muhammad, who purchased his first property in his childhood LA neighborhood in 2015, gave his son a portion of the 198-acre land he and a business partner purchased in 2021.
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Faheem Ra’id Muhammad said he learned of the surprise through social media.
“We went hiking on my birthday. We just had fun,” Fahim said.
When he got home, he saw an Instagram post revealing his father’s gift. That’s how I knew all about 40 Acres,” he said.
Teach the value of land ownership
After the Civil War, by 1910, farmland ownership According to the American Bar Association, the percentage of blacks who rapidly purchased more than 16 million acres of land has peaked.
The proportion declined in the 20th century, and by 1999 blacks 7.8 million acres A USDA report shows that the land was worth more than $14 billion at the time.
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As a child, Muhammad Sr. developed his interest in real estate investing by watching his entrepreneur mother endure difficult times while maintaining her position as her boss, eventually buying her first house. Say you’re affected.
He hopes to instill similar values in his children.
“We see it as an opportunity to pass this land on to our children,” he said. “We can increase our legacy and create wealth that spans generations, and it will outlive us and our lifespans.”
“Generational Wealth Matters”
Acquiring 40 acres at age 13 was “unexpected,” said Fahim Jr., whose birthday is March 16.
“It’s like, ‘Oops, what are you going to do with this?'” he said. “But when you grow up and are taught the importance of owning land, you will have a better idea of what to do with it.”
He already has some ideas. All-terrain vehicle camps, cabins, and Airbnb properties rank among them.
Regardless of what he plans to do with his land, the teenager seems to take his father’s lessons to heart.
“If you have the land and you pass it on for years and years and your whole family keeps growing it, it can be big,” Fahim Jr. said. Generational wealth is important to me.”