Building a real estate curriculum for kids/young adults

Jackson, Mississippi
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Building a real estate curriculum for kids/young adults

Sonya Walker
Member since 2022 · 3 posts · 3 votes

Hello everyone, I am the director of development for a non-profit organization called Product of Our Environment Youth Empowerment Program. I am interested in building a curriculum to introduce kids/young adults to the thought of real estate, the importance of owning it & etc.

Real Estate is something we weren't taught in school, especially in Mississippi, so I would like to get you guy's idea on some possible things that would be important to the curriculum & possibly, are there currently any resources out like that that teaches kids about it. 

I would love to receive your feedback thanks..

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Scott Mac
Austin, TX · Member since 2019 · 5k+ posts · 5k+ votes
4y
Quote from @Sonya Walker:

Hello everyone, I am the director of development for a non-profit organization called Product of Our Environment Youth Empowerment Program. I am interested in building a curriculum to introduce kids/young adults to the thought of real estate, the importance of owning it & etc.

Real Estate is something we weren't taught in school, especially in Mississippi, so I would like to get you guy's idea on some possible things that would be important to the curriculum & possibly, are there currently any resources out like that that teaches kids about it. 

I would love to receive your feedback thanks..

 HI Sonya,

Teach them to save money for a downpayment, how a mortgage works, what it means to quailify for a mortgage, how to get a bank loan, how to buy a home to live in (vs invest), how to work with a Realtor to find a home and make an offer.

Also teach them how to maintain the home once they get it, paint it, cut the grass, fix the porch roof, fix the porch floor. So the place does not turn into a dump.

Another thing to teach them is what the court will do with the home if they are divorced. So they have a heads up on this situation.

I think teaching them "Investing" is a waste at that age. They need to know how to do the basics--buy their own home to live in and pay it off, while maintaining it and maintaining the yard.

In other word --how to be a responsible citizen.

If they ever have enough money leftover after the mortgage and repairs to invest they can seek information on that on their own (with some equity in their own home).

Teach them the value of hard work.

Good Luck!

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  • Susan Maneck
    Investor · Jackson, MS · Member since 2014 · 1k+ posts · 769 votes
    4y

    We need to teach financial literacy as a whole in Mississippi both at the high school and college level.  When I first started buying real estate in Jackson I had a dream of eventually selling my houses to my tenants, but most of them don't even have bank accounts! We especially need to teach them about credit, debt and how to avoid predatory lending. Hilliard Lackey and myself have led Youth Empowerment Programs in the past but we were mostly working with Middle Schoolers and were concentrating on other areas. I'm living in California right now but you might consider talking to Dr. Hilliard Lackey about what you are doing. I can give you his contact information privately if you are interested. 

    0Reply
  • Dan SheeksPro Member
    Rental Property Investor · Denver, CO · Member since 2016 · 621 posts · 362 votes
    4y

    Hi @Sonya Walker! Thanks for your ambition to teach young people about real estate investing! That is something I'm also passionate about and actually do as a high school teacher. Bigger Pockets also recently published my book and workbook which walk a teenager through all the steps to not only get their finances on track but to buy their first real estate investment property around age 21 or 22.

    I think the workbook is exactly what you are looking for. If you would like to chat (phone or Zoom) let me know!

    Dan

    [email protected]Podcast Guest on Show #179
    1Reply
  • Scott Mac
    Austin, TX · Member since 2019 · 5k+ posts · 5k+ votes
    4y
    Quote from @Sonya Walker:

    Hello everyone, I am the director of development for a non-profit organization called Product of Our Environment Youth Empowerment Program. I am interested in building a curriculum to introduce kids/young adults to the thought of real estate, the importance of owning it & etc.

    Real Estate is something we weren't taught in school, especially in Mississippi, so I would like to get you guy's idea on some possible things that would be important to the curriculum & possibly, are there currently any resources out like that that teaches kids about it. 

    I would love to receive your feedback thanks..

     HI Sonya,

    Teach them to save money for a downpayment, how a mortgage works, what it means to quailify for a mortgage, how to get a bank loan, how to buy a home to live in (vs invest), how to work with a Realtor to find a home and make an offer.

    Also teach them how to maintain the home once they get it, paint it, cut the grass, fix the porch roof, fix the porch floor. So the place does not turn into a dump.

    Another thing to teach them is what the court will do with the home if they are divorced. So they have a heads up on this situation.

    I think teaching them "Investing" is a waste at that age. They need to know how to do the basics--buy their own home to live in and pay it off, while maintaining it and maintaining the yard.

    In other word --how to be a responsible citizen.

    If they ever have enough money leftover after the mortgage and repairs to invest they can seek information on that on their own (with some equity in their own home).

    Teach them the value of hard work.

    Good Luck!

    1Reply
  • Scott Mac
    Austin, TX · Member since 2019 · 5k+ posts · 5k+ votes
    4y

    This is what I am talking about.

    Who would not be proud to own this little house all fixed up.

    Especially from their own hard work.

    A little paint and some major sweat equity is what it takes.

    0Reply
  • Kerry Noble JrPro Member
    Investor · Indianapolis, IN · Member since 2018 · 2k+ posts · 1k+ votes
    4y

    I'd start with mortgages......I learned so much about mortgages from the book Mortgages for dummies.......

    I'd find a realtor to bring in to talk about the buying process, loans, credit, approval letters etc

    0Reply
  • Susan Maneck
    Investor · Jackson, MS · Member since 2014 · 1k+ posts · 769 votes
    4y

    Besides the financial end of it, one way to teach these kids about the mechanics of fixing up or owning a house might be to have them work on a Habitat Home. 

    0Reply
  • Sonya Walker
    OP
    Member since 2022 · 3 posts · 3 votes
    4y
    Quote from @Scott Mac:

    Wow thank yoou so much for yoour input Scott, extremely helpful

    0Reply
  • Sonya Walker
    OP
    Member since 2022 · 3 posts · 3 votes
    4y
    Quote from @Account Closed:

    Thank you for your kind word Dan, you feedback was an excellent spark of inspiration!

    0Reply
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