OfflineOur son Joe has just finished his High School Junior Year in the IB Program with all AP honors courses ... but he wants to follow Dean's & his parent's lead & become a real estate investor.
He wants to Buy & Hold; we've just signed a contract & have had it accepted on a 2 Bed/2 Bath/1 Car bank owned house that he's paying $ 44,300 for & will use it as a rental.
He should cash flow about $ 200 per month; & plans to have 5 rental homes while he's in college.
He's got me beat, I didn't buy my first house until the age of 20; he's doing it just turning 18.
He's using our connections, & some of Dean's techniques
for the purchase ... he got a local investor to give him a 30 year loan @ 8.25% APR;(with Jill & I Co-signing) & he is putting down a 10% down payment.
He's very impressed with Dean, all his work & marketing skills and would like so say Thank You for all the information and giving him the motivation to maybe be the youngest DG'er.
Gary & Jill get another offer accepted ... this one is for their new investor son, Joe.
Posted on: Sun, 05/10/2015 - 01:01
Gary & Jill get another offer accepted ... this one is for their new investor son, Joe.
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- by gceriani
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run as fast as you can this is terrific. i wish i had a co signer and a believer to help me. between your mom and dad and all of deans other successful students your mom and dad can introduce you to WOW !!!! 18 yrs old by the time your 21 you could be paying cash for your first lambo or what ever you want...Awesome man.
CONGRATULATIONS MAN,
WALT
P. S. oh and get your finances ready so you can come to EDGE' 16......and get you a profile here on DG.COM so we can follow your progress.
Thanks Walt, let's hope it takes care of us instead of the Lambo ... Joe was on cloud nine because Dean responded to a text I sent about Joe's 1st investment property.
Dean was at our house back in 2009/2010 & remembers Joe as a little kid.
let's hope it takes care of us instead of the Lambo ...LOL.... i hear ya gary...
Gary that is awesome. All the best my friends. you to joe.
walt
Theres nothing wrong with that, the earlier the better, dont forget the parents involved in this to, that probly helped a lot, much success, sincerely, Jim
jbischoff
Thanks again !
Hey Gary,
This is great news! Our youngest son just turned 18 and graduates on Sat, and will be starting to work with us next week. He has seen what we are doing and has even helped in a couple of the projects and a couple months back asked if we could get him started. He has been to reia meetings with us and has listened to some videos with us. He is not big into school but will be going to community college in the fall to at least take some business/accounting classes just to keep some schooling going right now. He is not interested in the 40/40/40 program, that's $40k for college, for a 40 hour a week job for the next 40 years. Hopefully we can get him into his first property by the end of the year or at least partnering up with one or two with us.
SEMPER FI
GET SOME!
Thanks Jim, I think he's looking forward to doing many deals !
that is awesome Gary n Jill OMG I love to hear that. Why do the 40 40 40, ha. thanks for sharing and cant wait to meet your son at the edge one of these days
Tony
Go faster do more! GFDM!
Congrats Jack ! Joe doesn't want the 40/40/40 either; he believes real estate is a better way, but still would like to branch out in different areas. They have much more pressure in school than we had ...
Thanks Tony, I think Joe will work smarter rather than harder like Jill & I ... not
because of being lazy, but he sees the potential on the passive income level.
Congrats.. keep pushing him..
Thank you ... will keep after him to do better than us.