Relatively new investor from Jackson, Georgia

[Jason Schlager]

Hello everyone,

My name is Jason Schlager and i live in rural Jackson, Ga (about halfway between Atlanta and Macon). My wife and I have each bought and sold houses in the past and were landlords at one time, but were not heavily into investing in real estate.

We have two kids in college and decided that it would not be a bad idea to buy a rental property, split it into small, off campus apartments and have one or both move in, then rent out the remaining units(s). This line of thinking got us into discussing real estate investing as a good option to develop passive income. A friend who is also involved with this site told me what a great place this is to learn and to help others.

We will probably not seriously consider any purchases for several months as we both have a LOT to learn. I am looking forward to becoming a part of this community!

[Jack Tucker]

Jason,

That's an awesome strategy about buying a place for your kids to occupy and rent out the other spaces... Let me suggest taking one step further that I plan to do with my 3 kids that are all finishing high school: Have them "earn" their housing by actually being the on-site manager. Collecting rent, showing the property, collecting applications, move-in, move-out, making sure house rules are followed and that tenants take care of family property. This gives them some great hands-on education and dips their toe into the water of earning their keep in the real estate field. This will give them a growth opportunity and maybe a way to earn some extra money working with other property managers. Good quality property management is ALWAYS in demand in college towns. It's hard for college kids to find meaningful jobs that are teaching life skills or even worthy of a resume, especially with the high amount of competition of the unskilled college workforce. Which school are they looking at?

You might be building competent partners that will help you manage your Real Estate legacy that started here on BP... :)

Take good care and Welcome