DM 64 - Teach Your Kids About Investing In Real Estate
- noemedagatan
- Jun 21, 2023
- 2 min read
Hey, it's Jon. Welcome to today's didactic minute. Today I'm here at our investment property, which is a quadplex that we've had for about a year. I've talked about it before. We've come out here in the spring. We're going to spruce it up a little bit and we've got the family helping because this is how we teach kids about investing in real estate.
So we've got a management company, but we decided to just put in a little work ourselves; again, for the benefit of our family and teaching and training, but just to make sure we have a little bit of ownership in the place and making it look nice.
So I show you that just to give you some ideas on how you can combine some life goals for yourself, both investing and moving towards some of your financial goals and maybe helping your family to get involved and learn some things with some hands-on things that you or your family are doing already. So, whether it's getting them involved in budgeting, spending, saving, investing in properties like getting them to look at your investment accounts and explaining that to them – anything you can do and tie it back to real life; so, something that applies to them. So, I tell them, hey, part of the income from this is going to help pay for your college, or part of the income from this is helping this or that, and I explained that we've got to keep this nice so people want to keep paying us rent so that we can keep getting income, so we can keep this investment, etcetera, etcetera. So, a couple of ideas for you. Hope that helps. Be sure to share this if you like it. Like it if you like it, whatever it is on your platform, and we've got new episodes coming out with the Financial MD Show which is our podcast. But comment below; love to hear what you think. We'll talk to you next time.
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