Planting Seeds of WealthA few days ago I mentioned my awesome experience in Phoenix AZ teaching my two day wholesale workshop. What I didn’t; mention was something which just came to mind.
In the audience were two young ladies, I mean one looked like a teenager the other a teeny-bopper. Both were brought by dear ole’dad. Dad’s explanation for bringing the girls was part humor, part serious, you know like seriously joking. He said he brought them to expose them to real estate so perhaps they pay their own college tuition in a few years.
No matter his true reason I thought it a great idea. Why not expose our kids to something they can use their entire lives? Planting that seed in a child’s mind early can result in unimaginable results years later.
I just read a book, a biography on J Paul Getty, America’s first billionaire. The richest man in the world during the 50’s to until his death in the 70’s. Mr. Getty regurgitated the story of how as a kid he wanted to be a writer and a diplomat. It was his father’s exposing him to the early Oklahoma oil fields during the turn of the 20th century is what planted that seed in young Getty’s mental garden.
Just a few years later at age 24 young Getty made his first MILLION as his own oilman in 1916!!!! He went on to become the Bill Gates of his time. Today Dec 15th would be J Paul Getty’s 114th birthday.
The same can be said of Donald Trump whose father developed small apartment buildings around NY and carried young Trump along to help inspect projects. We all know the rest of that story. The same can be said about many successful people, having been exposed, not forced, but exposed to an idea, a way of life which can have lasting financial effects.
Sadly enough most youngsters will never get that same real world exposure of business and finances. The public schools, although starting to realize the need, are still lacking in that area. Unfortunately, most kids are being exposed to scarcity minded, “me me me” ways of thinking about money.
A few years back when my son Marcel was in kindergarten his teacher Mrs. Meade asked me to come by and talk to the kids about what I did with houses. Man, that was one of the most rewarding experiences I’ve ever had teaching wholesaling. A room full of five year olds circled around me sitting legs pretzel styled on the floor.
They hung on every word I said, especially my slooooow, deliberately dragged out explanation of uuugg guulll-lee, sssstttiinkkky, houses. You know how kids do, eyes focused on your mouth as they mouthed your words at the same time? I had em hooked.
Going forward with using their new math skills we did some basic additions and subtractions to figure our profits. The kids loved it, hugging me after one by one saying thank you Mr. Wizard. Marcel beamed with pride; he wasted no time underscoring my description of the houses to his classmates by reminding me there was pigeon poop in one house that could make you sick.
Those kindergarteners got it! So did the teacher’s assistant who approached me later interested in being a private lender to my deals. Folks a seed was planted that day.
Marcel, I’m excited to report, is well on his way to thinking about real estate. He loves drawing houses. We watch the History channel’s Modern Marvels engineering documentaries. He understands load bearing walls, and attempts to figure which walls are holding up a roof in nearly every building we enter.
A good friend of mine Kenneth Edmonds has dedicated his real estate teachings to youth. Ken is out in LA and doing marvelous things with the youngsters. This past November he reported the progress of some of his young moguls. One report sticks out in my mind. A 16 year old young lady has amassed $2million worth of real estate (correct me if I’m wrong Ken) which is giving her positive cash flow. At 16!!!! Since she hasn’t reached the age of maturity her parent’s have to sign her docs. Hey! careful there now dad.
Another good friend, colleague and my favorite real estate guru Vena Jones Cox is also dedicated to exposing youth to this mighty business of real estate investing. Vena herself a 2nd generation investor was exposed early in life by her dad. At least once a year, she invites a bunch of gurus to spend a few hours with the youth aged 14 – 21years, during a multi day event, teaching their strategies.
I had the distinct pleasure of joining Vena and Ken, two years ago at such an event. It was one of my most worthwhile teaching experiences. Watching the slumped shoulders straighten up, sleepy rebellious eyes brighten up at the possibilities they just heard. What could be more rewarding?
The young people perk up when we start talking numbers and using the internet to search for owners. Driving for dollars also appeals to the newly licensed 16 year old. One kid said he could even ride his bike to find houses for his mom.
Sorry for my rant, but I get excited. I have the utmost faith in our youth. There’s much about them I don’t understand, but I assure you, they think differently than I as a PC generation. But they are more motivated than we realize.
The two young ladies in Phoenix, who looked resentful at the beginning of the day, lips poked out, heads in hand, straightened up when I got to the numbers and real world case studies. They acknowledged at the end they really enjoyed themselves.
Lets all plant those seeds of wealth. The mental garden doesn’t care what gets planted, be it the weeds of scarcity and limitations, or the seeds of positive possibilities. One thing is for sure, a weed and a rose can not occupy the same spot in a garden.
Much Success,
Go to www.thewholesalewizard.com for more information.
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