Posted about 2 months ago

5 Tips For Creating A Powerful Mindset For Investing With Kids

5 Tips For Creating A Powerful Mindset For Investing With Kids

First things first do not believe the lie! You CAN invest with kids! My wife and I lived in 3 different investment properties over the past 2 years and we did it with 4 kids. Guess what? You can also. So stop telling yourself you can't and get away from the people who think you are crazy. Get it in your head that you CAN! This is not a positive, motivational cheerleader post. This is 5 tips on how I did it and continue to do it day in and day out.

Make Sure Spouse/ Equal Decision Maker is on Board

If you have everything in place from financing to the property you want to buy but the person you see on a daily basis is not on board things will be very tough. You need to be on the same page. For me I made it clear, I painted a picture for my wife of the life we could live and the freedom we could have. I am fortunate to have an understanding wife that gave me the opportunity to explain why I think real estate is the way to go. My wife agreed with my plans and quickly became my real estate partner. Things will go wrong and instead of having someone in your ear saying “I told you so” I have someone saying “let's solve this problem.” Make sure you have an “we’re in this together” attitude!

Establish Your Why and Make it Powerful

Wanting more money is good, but for me it didn't cut it. I needed a more powerful drive, I needed something that woke me up every morning with excitement and determination. Fortunately if you are reading this article you likely have that motivating factor, your children. Before my first was born I had drive, I knew I wanted to invest, I knew it was a smart solution for my future. The day I found out my wife was pregnant, real estate investing became a must and my drive I thought I had was actually very weak compared to my new drive. Having children is an amazing motivating factor that pushed me to new levels. I made it clear in my head I had to do something to better the future of my children and collecting a paycheck was not enough. I went from “I want more money” to “I must provide a higher standard of living for my family through real estate.” It became powerful for me. Find your drive, make it powerful!

Find Like Minded People

I am sure you have heard this one before, a matter of fact I believe Brandon Turn has said this a few times on the PodCasts, “You are the average of the people you most associated with.” It is true, if you are around people that are content where they are or not interested in real estate or constantly question why on earth you would want to invest with children that will take a toll on your mind set. Find other like minded investors and business owners that have kids. Investors with children are out there and love meeting like minded people doing the same. 

Education via Self Improvement

We are investing in real estate to better our lives in some way shape or form but before you start investing in real estate you need to invest in something bigger, invest in yourself! Self improvement books,seminars,classes, etc will help give you clarity and a powerful drive to achieve your goals under all circumstances. Never stop learning and follow it up with teaching others. You need to constantly learn and grow. Teaching others is a double bonus, you gain satisfaction from helping someone else and there's not a better way of learning something than by teaching it.

Audio Books

Audio books play a huge role with self improvement and are a great way for being efficient. I recently heard on one of my audiobooks that the average person drives 12,000 miles per year. If you spent that time listening to audiobooks in whatever desired field of study you want you would have the acuvillant of a PHD in that field of study. That makes me think twice everytime I turn the radio on now. What's great about audiobooks is it is a great way to learn while doing your parent duties. Driving to pick up the kids can be a chapter in a book.

I hope these tips can help anyone looking to dive into real estate with the kids. Investing with children is possible and I hope after reading this your children become your reason to invest not an excuse to not invest. I have heard by many people over the years asking “How could you invest with the kids, you're crazy.” Well in my head it would have been crazy for me to stay in a single family home, collect a paycheck and pay a mortgage out of my paycheck for the next 30 years barely having enough to get by. To me that was crazy. I wanted more for my family, I made it happen and I hope you can as well.