Interested Kid
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Interested Kid (by ned [AL]) May 20, 2024 6:17 AM
       Interested Kid (by Ray-N-Pa [PA]) May 20, 2024 6:36 AM
       Interested Kid (by ned [AL]) May 20, 2024 6:41 AM
       Interested Kid (by NE [PA]) May 20, 2024 7:15 AM
       Interested Kid (by plenty [MO]) May 20, 2024 7:37 AM
       Interested Kid (by NE [PA]) May 20, 2024 7:41 AM
       Interested Kid (by WMH [NC]) May 20, 2024 9:16 AM
       Interested Kid (by zero [IN]) May 20, 2024 9:16 AM
       Interested Kid (by PG [SC]) May 20, 2024 9:43 AM
       Interested Kid (by Bonanza [NC]) May 20, 2024 9:55 AM
       Interested Kid (by Ray-N-Pa [PA]) May 20, 2024 10:04 AM
       Interested Kid (by MikeA [TX]) May 20, 2024 10:09 AM
       Interested Kid (by Oregon Woodsmoke [ID]) May 20, 2024 10:44 AM
       Interested Kid (by Busy [WI]) May 20, 2024 2:34 PM
       Interested Kid (by BRAD 20,000 [IN]) May 21, 2024 12:26 AM
       Interested Kid (by BRAD 20,000 [IN]) May 21, 2024 12:26 AM
       Interested Kid (by BRAD 20,000 [IN]) May 21, 2024 12:26 AM
       Interested Kid (by ned [AL]) May 26, 2024 9:55 AM

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Interested Kid (by ned [AL]) Posted on: May 20, 2024 6:17 AM
Message:

I've got a 15 year old boy who has shown significant interest in real estate.

He is very hard working for his age (mows lawns, grows vegetables).

He has been quizzing me about real estate for quite some time, and has mentioned more than once that he'd like to get into it.

He also has shown maturity beyond his age when it comes to saving money and delaying gratfication. He likely could put a down payment on a shack around here. If not now...definately within a year or two.

My question to ya'll who have had similar kid:

What is best way to help him?

--74.132.x.xx




Interested Kid (by Ray-N-Pa [PA]) Posted on: May 20, 2024 6:36 AM
Message:

Adopt him as your nephew!

I had so many unofficial Aunts and Uncles along my path. We should all be looking for opportunities to give back.

There are multiple mentors who have helped shape my life. So I want to make sure that I thank my Uncle Jeffery while I am at it. It is so easy to forget that we are a sum of many moving parts.

Other programs out there include Junior Achievement and the Scouting program called the Explores. They do an in-depth study of specific career paths.

I wouldn't focus so much about selling him a house - at least not yet (unless its in his Roth IRA). Now the big wild card - how well do you know his mom and dad? What are there feeling about their son's interest? If this child is serious about this career path - I am sure collectively us investors can pool our money and get the kid attend the landlord conference.

You never know that kid might one day buy you out so you can retire. --24.101.xxx.xxx




Interested Kid (by ned [AL]) Posted on: May 20, 2024 6:41 AM
Message:

(I didn't communicate well- he's my son) Middle child of 3. (the other two show ZERO interest).

Also for clarification, I've never "pushed" the biz on my kids at all.

As long as they end up happy with what they do, I'll be thrilled if they are teacher, plumber, etc.

That said, this kid is def interested, hardworking, smart with his money, and wants to learn more. --74.132.x.xx




Interested Kid (by NE [PA]) Posted on: May 20, 2024 7:15 AM
Message:

Have him price out the material on some rabbit coops or dog coops or chicken coops or maybe some deer stands and build them and sell them. --174.240.xxx.xxx




Interested Kid (by plenty [MO]) Posted on: May 20, 2024 7:37 AM
Message:

Bring him to the MRLL convention! Get him a RichDad book. And play the Cash flow Game. Get him education about his Risk level. --172.59.xxx.xx




Interested Kid (by NE [PA]) Posted on: May 20, 2024 7:41 AM
Message:

Yes, definitely play the Cashflow 101 game. I held a class on that with our homeschool co-op and the high school kids have requested it several times since. --24.152.xxx.xx




Interested Kid (by WMH [NC]) Posted on: May 20, 2024 9:16 AM
Message:

Our kids were not interested at first.

Then the first one started his own business with his wife and he's now, what, nine or ten years in. The third one is deep into ours - we teach him more every day and had him set up Buildium Property Management accounts from start to finish, and he is managing leases and utilities now too. Seeing the money roll in wet his appetite and he is less put off by the hard work side now too LOL!

Can't get the middle child (man!) on board. Pretty sure it's more his partner than him, but whatever - also pretty sure they will sell whatever they get as soon as they get it once we go. --173.28.xx.xxx




Interested Kid (by zero [IN]) Posted on: May 20, 2024 9:16 AM
Message:

Congrats on having a kid that shows interest.

Neither of mine care. They start to, especially when they need funding for something, but it always simmers off.

Maybe start talking to him more about the ups and downs of the biz. Show him the numbers a little. The ins and outs.

Whew, now I am getting dizzy.

Go in partners with him on a place. He can buy in a percentage. The profits from that go into a fund for him. Then if he really sticks with it he has the down payment and possibly some working capital to get started on his own.

Keep us informed as the progress continues! --107.147.xx.xx




Interested Kid (by PG [SC]) Posted on: May 20, 2024 9:43 AM
Message:

Great you have a teen interested in work. I see so many in my area who just hang around - have Zero work skills - no interest in sports. It is sad.

Keep him working - he is learning life skills that only work can teach him.

As a boomer during my teen years - I always had summer jobs - part time jobs - was involved in sports - and looking back I enjoyed it.

--184.20.xx.xxx




Interested Kid (by Bonanza [NC]) Posted on: May 20, 2024 9:55 AM
Message:

Buy him Rich Dad, Poor Dad

Buy him Building Wealth One House at a Time, Revised and Expanded Third Edition

Hire him to mow your yards, spread mulch, etc

Pay his way to the convention. that might open his mind to the possibilities.

I am doing this with my 18 year old grandson. He has shown interest. He is currently working 2 jobs and working toward his real estate license. --65.188.xxx.xxx




Interested Kid (by Ray-N-Pa [PA]) Posted on: May 20, 2024 10:04 AM
Message:

Hmmmmm that makes you Uncle Dad.

I will not judge - you are from Alabama

If your kid is willing to foot 1/2 the price of the convention, I would be willing to foot the other half. Call me a distance Uncle Ray. There is a catch however, I need to learn what he learned from attending convention. It can be in a book report format, point paper, even postings on this site. I learn when others learn.

If he can't make it to this convention, OREIA, has a kid's real estate investing training session where he can learn with others his own age. It really depend on his maturity level.

--24.101.xxx.xxx




Interested Kid (by MikeA [TX]) Posted on: May 20, 2024 10:09 AM
Message:

My dad helped me buy my first rental at 17. Prior to that I did most of the maintenance for him, he drug me along to every interaction with tenants/potential tenants to learn the people side, taught me how to evaluate purchases, and the financials.

In almost all cases we would do something, such as meet a potential tenant, and then he would ask me questions about it so that I was engaging my brain. That really helped me think through the decisions that go into this business.

My suggestion would be to lay out a plan to cover every aspect of this business in his learning in the next 2-3 years so can hit the ground running. Involve him in the plan and outcome. --209.205.xxx.xx




Interested Kid (by Oregon Woodsmoke [ID]) Posted on: May 20, 2024 10:44 AM
Message:

Just keep talking to him. Feed him information, let him go along and work beside you.

He's one of three. Do not buy him a house unless you buy houses for the other two as well. He might deserve it and they don't, but do not do it.

It's difficult to not show favoritism and favoritism is damaging to the children who are not the favorite. So anything you offer to middle child should also be offered to the others. If he is going with you to clean a new purchase, ask the others if they would like to come along and help, too.

If you buy him books, then the others should get books, too (in whatever field they have interest). The other children might not use opportunity as efficiently, but they should get equal scoops of opportunity from their parents, and hey should have it pointed out to them at the time that you are trying to include them, and you should find something that they like and spend time with them, too. --76.178.xxx.xxx




Interested Kid (by Busy [WI]) Posted on: May 20, 2024 2:34 PM
Message:

Lots of good advice, and I especially like Woodsmoke’s recommendation of including an interest in the other kids’ interests. My oldest wasn’t interested in some things like gardening as a teen, but now he is planting a start of a garden, with fruit trees and shrubs too. For his profession, he works in a geeky, techy, military occupation, which he always was interested in. And he still has his hobby of old cars. My youngest liked to garden, wasn’t so into cars and tech. Now she has an extensive garden, including chickens, and for a profession, she manages a fleet and all the mechanics. Each kid has taken some of the other’s interests. So, yeah, even if other two aren’t keenly interested, give them exposure each way.

If son goes to convention, remember too that he is still a kid. Include some fun along with learning. Maybe Mom and the other two come along and do some hanging about the pool, but still get to join in the Cash Flow game, and evening meals with other landlords. Then make some fun/interesting stops everyone can enjoy along the way home. --172.59.xx.xxx




Interested Kid (by BRAD 20,000 [IN]) Posted on: May 21, 2024 12:26 AM
Message:

ned,

Bring him to Convention.

Ray beat me to it - OREIA Summit, Cincinnati, usually Nov 1, has a Youth Academy. He'll meet other like minded kids.

AND meet the Wohlwend boys. Teenage millioniares. They were at Convention 3 years ago.

Buy the book on Amazon - 'If I Can Do It, So Can You!: How I Started Buying Real Estate at Age 7' - by Deven Wohlwend

BRAD --73.103.xxx.xxx




Interested Kid (by BRAD 20,000 [IN]) Posted on: May 21, 2024 12:26 AM
Message:

ned,

Bring him to Convention.

Ray beat me to it - OREIA Summit, Cincinnati, usually Nov 1, has a Youth Academy. He'll meet other like minded kids.

AND meet the Wohlwend boys. Teenage millioniares. They were at Convention 3 years ago.

Buy the book on Amazon - 'If I Can Do It, So Can You!: How I Started Buying Real Estate at Age 7' - by Deven Wohlwend

BRAD --73.103.xxx.xxx




Interested Kid (by BRAD 20,000 [IN]) Posted on: May 21, 2024 12:26 AM
Message:

ned,

Bring him to Convention.

Ray beat me to it - OREIA Summit, Cincinnati, usually Nov 1, has a Youth Academy. He'll meet other like minded kids.

AND meet the Wohlwend boys. Teenage millioniares. They were at Convention 3 years ago.

Buy the book on Amazon - 'If I Can Do It, So Can You!: How I Started Buying Real Estate at Age 7' - by Deven Wohlwend

BRAD --73.103.xxx.xxx




Interested Kid (by ned [AL]) Posted on: May 26, 2024 9:55 AM
Message:

Thank you all who offered thoughts on this. I've bought the book referenced, and will likely do the conference thing with him.

My working plan is to help him, but him have skin in at every point of the game.

.ie the book is $15. I'm covering 1/2.

I'll have him cover 1/2 cost of conference expenses. --74.132.x.xx



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