Teach a Man to Fish: Real Estate Investing 101

real estate investing, real estate guurs

Real Estate Investing: Passing Your Entrepreneurial Spirit to the Next Generation

I think I said in my last post that I have been interested for a long time in real estate investing. This is a good list. There’s something very satisfying to me about taking a house that is in very bad shape and fixing it up and either turning around and selling it or renting it and getting a long-term income from that property.

I’ve been doing a lot of reading on this and research. Actually I started probably 15 years ago with some basic courses that were out there–no money down investing and things like that.

Real Estate Gurus

In the reading I’ve done, I’ve read about some of the heavyweight investment gurus that are out there. Quite a few of them started their investing careers as young people, and they had mentors that helped them get started.

I’m thinking about my own son and the people that are in his life. He doesn’t really have people that are mentoring him in the area of business. But I see myself as someone who, even if I can’t mentor him with a lot of information, I can at least mentor him in thinking in the right direction.

I have always wanted to have my own business, and for the last 10 years I have had a couple of businesses of my own. So I definitely have an entrepreneurial side. This is what I would like to help develop in my son.

I have a neighbor who suggested a business for my son.  This business has to do with fixing fishing equipment. My neighbor is an avid fisherwoman and she currently takes her fishing equipment to a place an hour away for servicing. She has said that this is something that my son could do. He could start his own business servicing fishing equipment locally.

I mentioned this to my son and he was quite interested. But I see that I would need to be the one to help him actually jump start it.

He would have to do some learning and some marketing and this would require my help.

The first step would be to actually get a piece of equipment that he could take apart, look at, and put back together. This would require a manual, so the next step would be showing my son how and where to go to find the right manual.

I have realized that as tech-savvy as my son is, and how comfortable he is with the internet, he doesn’t always know how to get information. Or at least the right kind. So my help would begin with showing him how to get manuals for the equipment he would be servicing.

After that would come the part of finding customers. I know he wouldn’t have a clue about that, so that would involve me initially, too.
I don’t really have the time to start another business but I think this is where the rubber meets the road with training my children.  The training is not necessarily easy or fast.

But if I can start my son on this road of small business ownership and being an entrepreneur, it would be something that could really impact the rest of his life.

All Ideas Welcome: How to Decorate for the Holidays

How to Decorate the House for Christmas

It’s been an interesting experience this year decorating the house for Christmas.

Adam and I are decorating the house by ourselves and this is the first time we have decorated this particular house. So everything is new and the decorations don’t have an established place.

I had ideas of what could go where but wanted to be inclusive and let Adam participate in deciding what should go where.

The biggest decision was where to put the tree. We tried it in several different places. Adam suggested moving the TV and putting the tree in that corner, which we tried, and it looked great, so that’s where we left it.

It ended up being fun, seeing his ideas and encouraging him with those ideas. He found a long piece of gold ribbon that was sort of like foil tinsel stuff.  His idea was to staple it to the top of the wall where the wall meets the ceiling.

I would never have thought about putting a piece of anything up at the top of the wall, or how to put it up. I certainly would not have thought about stapling it. But he had that idea and I said, sure go for it.  He found a heavy duty upholstery stapler and proceeded to staple the gold foil thing to the top of the wall. It looked great.

More Christmas decorating ideas:

Then he said, okay, what do you want me to do now?

And I said, here, arrange this nativity scene up there In that nook on the top of the wall.  He took all of the pieces of the nativity scene and a bunch of real Douglas fir boughs. He made a fantastic display in the plant shelf between the top of the wall and the ceiling. It looks great!

It took him several times to get it just right.  He got it all arranged and then he got down off the ladder and backed away and looked at it and said, wait, that’s not balanced; it’s crowded on one side. That’s exactly what I would’ve said. So he obviously has developed an eye for placement and balance and harmony. It was very fun to see that come out as he arranged the nativity scene.

Then there’s a matching plant shelf/nook area on the other side of the hall.  I told him to arrange the wood elves on the top of that.  One of the wood elves kept falling over, but what he did was basically wedged that one between the top of the wall and the sloped part of the ceiling at the far end of the nook.

And then he spaced the other ones out evenly. So they’re all standing up there and you would never even know that one of them is touching the ceiling out of necessity to keep it standing up straight!

So it has been a pleasure this year to decorate with Adam and Let him go with his ideas and see what he comes up with.  And then to watch him smile at his work and feel happy with what he has done has been fun to see also.