When did you start teaching your kids about real estate?

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When did you start teaching your kids about real estate?

Eunice L.
Sunland, CA · Member since 2016 · 55 posts · 35 votes

Hi, I come from a family where NOBODY invested nor talked about investing so I'm interested in this topic as I have 8 year old. I started teaching him a bit about the essentials of real estate when he was 7. Do you teach your kids about real estate? How old were they when you started teaching them? What were some ways/methods you used to educate them? Taking them on site, having them read a book, just daily conversations, certain games etc? Thank you for your input!

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Candace Ellison
Property Manager · Murfreesboro, TN · Member since 2015 · 85 posts · 48 votes
8y

I bought my rental when my daughter was 6 months old. She's 10 now. She's grown up in it. She goes with me to look at properties to buy. I discuss with her my plans for the property and fixes I will do to increase rents. She absolutely loves to check my PO Box for rent checks and I take her to the bank with me when I make deposits.  She hears the conversations when I handle tenant disputes and has gone with me numerous times to lowes when we are doing a reno or simple repair.  She addresses and stuffs the envelopes for gift cards for tenants during the holidays. I try to let her see more than teach at this age. There is only so much that they can grasp at a certain age. She knows the basics.

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  • Brie SchmidtBusiness Member
    Moderator
    Real Estate Broker · Chicago, IL · Member since 2013 · 6k+ posts · 5k+ votes
    8y
    Originally posted by @Eunice L.:

    Hi, I come from a family where NOBODY invested nor talked about investing so I'm interested in this topic as I have 8 year old. I started teaching him a bit about the essentials of real estate when he was 7. Do you teach your kids about real estate? How old were they when you started teaching them? What were some ways/methods you used to educate them? Taking them on site, having them read a book, just daily conversations, certain games etc? Thank you for your input!

     I don't have kids yet, but I plan on teaching them very early on about financial literacy and investing.  There was this post from a parent who's 12 year old bought his first property.  It is an interesting read

    https://www.biggerpockets.com/forums/311/topics/41...

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  • Von S.
    Boston, MA · Member since 2013 · 53 posts · 31 votes
    8y

    I don't have kids or plan to have kids ever but I'm already trying to teach my niece and nephew about landlording. They are 8 and 5 but we've taken them to help us clean yard nevertheless. They also know about mortgages and rents because that's basically addition and subtraction.

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  • Candace Ellison
    Property Manager · Murfreesboro, TN · Member since 2015 · 85 posts · 48 votes
    8y

    I bought my rental when my daughter was 6 months old. She's 10 now. She's grown up in it. She goes with me to look at properties to buy. I discuss with her my plans for the property and fixes I will do to increase rents. She absolutely loves to check my PO Box for rent checks and I take her to the bank with me when I make deposits.  She hears the conversations when I handle tenant disputes and has gone with me numerous times to lowes when we are doing a reno or simple repair.  She addresses and stuffs the envelopes for gift cards for tenants during the holidays. I try to let her see more than teach at this age. There is only so much that they can grasp at a certain age. She knows the basics.

    2Reply
  • Matthew Paul
    Severna Park, MD · Member since 2013 · 7k+ posts · 7k+ votes
    8y

    I have 2 boys , 9 and 12 . One of their favorite shows is HGTV .    I have them help with renovations and explain to them the $$$$$ of everything .   

    1Reply
  • Michael Ohara
    Investor · HI · Member since 2017 · 328 posts · 124 votes
    8y
    We take our teens to a Cash Flow game. They learn about down payments, leverage, risk, cash flow, etc. plus it’s fun.
    1Reply
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