My 14 year old daughters buying her 1st house in next 90 day

My 14 year old daughters buying her 1st house in next 90 day

Rental Property Investor · San Diego, CA · Member since 2018 · 242 posts · 234 votes

Devyn’s started saving for 4 years and now has appox $10k...

How did she do it?

Bucket 1 1/3 $ goes to spending

Bucket 2 1/3 goes to saving

Bucket 3 1/3 goes to investing

For example she bought 2 shares of Facebook @ $18 which now worth $440. Dad also match’s dollar for dollar everything invested into bucket #3 until age 25.

Here are my 3 tips to get started

1 use the 3 bucket rule get to $10k

2 look out of state for cash flow. She picked Indianapolis

3 build a local team. We have a real estate agent and a banker

What are you going to teach your kids about 💰 and buying 1st property?

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  • Member since 2019 · 15 posts · 7 votes
    6y

    @Jason Graves what’s the financing plan assuming she is not buying a house for $10k cash? I have a 14 year old too.

  • Rental Property Investor · San Diego, CA · Member since 2018 · 242 posts · 234 votes
    6y

    @Gagan Mehta

    Private $ first for appox $65-$85k

    She’s has access to 20k gold card and a $50k Amex for 8-10k rehab.

    After rehab we are using a private local bank to brrr

  • Investor · Indianapolis, IN · Member since 2009 · 178 posts · 26 votes
    6y

    This is awesome...

    I started my daughter at 14 also. She sold 6 houses

  • San Diego, CA · Member since 2019 · 11 posts · 4 votes
    6y

    This is killer stuff! I cant wait to start teaching my son about money as he gets older. Luckily hes not even two yet so I still have some time haha. By then I plan to have enough OOS deals under my belt that Ill have some valuable insight for him. I'm really excited about the idea of putting a deal in his name with a 15year loan to take care of some of those future expenses like college. 

  • Multifamily Syndicator · Greater Los Angeles Area · Member since 2015 · 399 posts · 261 votes
    6y

    This is great @Jason Graves!  Congrats!  I do not have children yet but when I do I will be following something very similar.

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