How to help my 17 year old son get started in real estate?

[Joe S.]

How to help my 17 year old son get started in real estate?

Let me start off by saying that I have personally been doing real estate for over 20 years andI realize a lot of people are going to say “ tell him to go to the Local real estate clubs.” With all due respect I have went to so many real estate clubs over the years and most are only a way for the sponsors and the owner of the club to promote themselves.

I have read and listened to so many books over the years that it’s not funny. Most of the stuff is generic where the people actually know less than what I know, but they are good at writing or maybe they have a good editor. So telling him to go listen to a ton of self promoting podcast or go read a bunch of generic books would not be helpful either in my opinion.

He’s helped work on multiple house projects that I was rehabbing. He’s been with me on multiple occasions when I contracted a house in person with the seller. He understands a lot about creative finance.

Really what I am trying to figure out is how do I help him get started without simply handing him houses or paying for his marketing, helping him close deals and then  letting him keep the profit. If I simply just handed him money or pay for all of his marketing when he is in the same area as me I don’t see how that would be teaching him to be responsible. I do want to help him I’m just at a loss at how to proceed.

Thanks so much for being patient with my ramble above.

[Karl McGarvey]

Buy a house for him to live in, but charge him rent to live in it. Take all of the "cashflow" and set it aside for him. In a few years gift that money to him as a down payment for his own first property that he can house hack. You get a rental with a guaranteed tenant for a few years, he gets a start for his future and doesn't even know it