menopausebarbees
... the tales of two sisters

Dana lives in Seattle, and Tracie lives in Germany. We are businesswomen, writers and humorists. We write about life, dating, and today's modern women.

Creating Generational Wealth- Visionaries

Ever since I started posting about creating generational wealth, I’ve had countless conversations with people inquiring about how our story began.

With the help of my mother, my memory from my 32 years with my father and our archive files, today I share the visionaries and our early history.

In 1950, eighteen year old Gerald Frank acquired his first house at 2527 E. Helen in the Arboretum neighborhood.  The asking price was $8500.  This was a tremendous financial obligation for a young black man from Detroit whose mother had died the year before and his father resided in Michigan and worked at The Detroit Light Company.  Daddy bought the property with the seller holding the financing and worked odd jobs to make the monthly mortgage. He drove a truck with “Now Hiring” signs.  He would go downtown to large office buildings and wash windows and present a bill to management, where once the work was complete, most felt obligated to pay.  He was an up and coming musician, and he would lie about his age and play at local clubs.  He went on to be listed in the Paul DeBarro’s book, Jackson Street After Hours, as one of Seattle’s best drummers.  He was studying art at The University of Washington and getting his student teaching certificate.  He found fellow students to rent out rooms in the house to make ends meet.

From 1952 until 1969, he acquired twelve more properties in the Central District of Seattle.  A brand new Capital Hill 20 unit building with a swimming pool, designed by architect, James Paul Jones was also purchased  on contract, with the architect’s seller financing.   The success of these undertakings is unique and unprecedented in that no financial assistance for the purchase of renovation was received until 1969 when the first loan was secured from The Liberty Bank of Seattle.

My parents did not allow obstacles to hinder their vision.  Creating generation wealth means seeing and believing  when others doubt.

Below  is the history of Liberty Bank and those who believed.

 

Gerald Frank, our father age 19, with his hand in cheek watching bongo player hone in skills.  Some of these residents rented rooms from him in his first home purchase in 1950.

 

Theresa Frank, our mama on the steps of our family home circa 1965.- I like to think she was headed to Liberty Bank for construction funding in this picture.

 

 

www.therealdanafrank.com

 

 

Liberty Bank Seattle Washington (1968-1988) and Liberty Bank Building