Real Estate Rookie 425: Rookie Reply: How to Pass Down Generational Wealth & Top Airbnb Amenities
Jun 28, 2024
Learn how to pass down generational wealth through real estate to your children, explore unique seller financing opportunities, and maximize Airbnb bookings with strategic amenities. Discover innovative real estate partnerships, advice on cash flow, and the importance of positive cash flow in deals.
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Earning vs. Inheriting
- Consider not simply handing down wealth, but enabling children to earn it.
- Offer them loans to start businesses, fostering entrepreneurship.
Succession Plan Example
- Ashley helped another investor create a succession plan with his son.
- Gifting shares annually was part of the strategy, but it also caused some friction.
Early Financial Planning
- Set up 529 plans for children's education, which can convert to retirement accounts.
- Pay children for work, allowing them to contribute to retirement early.