Ending the interview with "bye Felicia" is crazy! 🤣 I want to strike a balance with setting my children up for the future. I want them to have the resources to be successful, but I also want them to not be entitled brats who have no idea what hard work is.

Wonderful subject matter! Give us more please like this - working with & for our minor children!

34 is when I woke up! 32, 33 I was still shopping shopping shopping… 34, paid off debt and student loans. Hmmm 34 is the age I’ll go with lol 😂

I love what David said here . The market has changed in every area. It seems like you have to come in with a certain level of wealth already for when tenants don’t pay, or your STR is not getting booking or repairs eat through your reserves……Airbnb is not over saturated if you have other income streams but guests definitely know how to get refunds for their trips. I wouldn’t recommend anyone quit their job unless they have support or other means to survive .

This is one of the best episodes yet. I've re-listened to it several times to try and get all the nuggets I can. Great, foundational content. Thank you

Trust made me feel at ease that my kids will not be homeless when my husband and I are not around anymore. Different generations have different struggles in life but I want to Make sure my kids have strong foundation to deal with it. I love listening to David, Rob and guests because I know they always talk that anybody can create “old money” for their own kids.

Thanks for this session today. Its very encouraging and motivating

Excellent content. Just placed my home and RE investments into a revocable living trust. Brains 🧠 develop around age 26. Legacy planning. 👍🏻 Appreciate the honest pivots and ideas in these turbulent times. 💪🏻

My husband sent me this episode and he loves learning from your podcast! Thank you for continuing to show us how to diversify our incomes and the steps you provide for us to get there! Blanca

Unfortunately, my kids saw all our hard work in real estate investing, and that has made them not interested. I have told them that can just turn it all over to property management and collect a check. I am not sure what they will end up doing as they mature.

Love the info guys, I’ve been researching this information for a few years

I'm thinking about doing the build to rent thing. Airbnb's in my market bring in $50k a season. I can buy lots and put up modern twin houses for relatively cheap. We'll see how it goes.

Great video! I am all about creating that generational wealth in Real Estate. Hoping my kids are interested in taking over my rentals and channel in the future!

With regards to gifting assets to your children, it's better to let them inherit your assets upon your death. The children get a step-up in cost basis, and, you can still be in control of the assets as long as you're alive. Your children can still benefit from the assets, just indirectly through you. This is true wealth transfer and if we teach our kids right, and they follow our recipe, they won't really need our gifts.

I get it with the smokies since it’s 4 season :)

Thank you David!! I’m learning a lot with your channel and love it, I move to the Midwest from California but I always wanted to sell Real Estate in California, I moved back to Del Mar CA in 2016, I lasted 3 months there the story is kind of long but anyway I’m back in the Midwest got my RE License a year ago, just got my first investment property a month ago, I’m very excited about it!! Not sure if I should Rent it, or sell it and use the profit to get a duplex where I can live in one side and rent the other one. Need some advice from you, Thank you!!❤❤❤

When I set up my trust 8 years ago the attorney told me you can't control from the grave. There is no one that will make your child take a drug test after he inherits your wealth.

Definitely prepare the kids and 30 is the age for gifting real estate as long as they have earned it.

Your example of 100k down for a 500k home that appreciates 10 years down the road double is great, but we have over the past 2-3 years spent about 100k on cashflowing long term properties making great return while it pays itself off. In ten years, this will also easily be worth a million dollars, but also cash flows well!

The advice for young generation - your most important life investment? Your choice of spouse/life partner. Choose wisely, it will make you or break you.

@johnnyb33good21

5 ай бұрын

In what way will it make or break you?

@missmaryjanegreen

5 ай бұрын

Stay single & happy. Fuck whomever you want but never combine finances or become legally bound.

Jarrettsville, MD represent!!

What about putting the property in a family trust and putting the children on the trust? The property never gets transferred and no tax gets paid by the children

Good stuff

Good contents. Does David & Rob invest into 401k, IRA & Index funds?

Hi guys - I thought you avoid state tax with step up base when you have in the trust. Just looking for a small feedback.

What is the maximum age your child can get paid?

Love this podcast

Awesome video

Statewide rent control is making its way through the Washington state legislature, as you speak.

"You spend your money on really nice mousse!" haha

Imagine everyone listening to this and other similar RE podcasts. Imagine all of us buying RE ahead of time for our kids, becasue how are they going to be able to afford it? Imagine all of us telling our families and friends to do the same. Will that push RE prices even higher? The unknown...

Cool. Okay

You buy rentals or build them?

W hot coffee 😂

DO NOT set your kids up "For Life" They will NOT appreciate it because they didn't EARN IT! You will be Robbing your kids of the joys of accomplishment! Literally one of the greatest joys IN LIFE! AGAIN: DO NOT GIVE YOUR KIDS FISH! But PLEASE PLEASE TEACH them HOW TO FISH, that way they can teach their kids also.

💯💯💯💯💯💯💯💯

why worry about the kids… ?

For me I don’t try too hard to guess the future and it’s tempting to go too far into assuming the best and the worst… but there is a good chance that wages will collapse due to if Artificial intelligence and thus most people will have a fixed rent that may even be rent controlled or limited due to the average person living off of UBI. So if property rights and money survive this unprecedented change then there will be those who owned before this change and everyone else that can never ever own anything … ever. So if that does happen owning several properties free and clear would mean multiple generations can join in these elite lord caste and enjoy a life of hover craft racing and sexbot orgies. If that doesn’t happen and life looks like now but due to inflation things are still expensive then owning multiple properties free and clear will still be a great idea. If money collapses and property rights become an antiquated and there is no mass landlord lynching then we won’t care about owning things and I will have wasted some time but played it safest anyone could