897: Seeing Greene: Generational Wealth 101 and Getting Started in a Tough Market

BiggerPockets Real Estate Podcast

BiggerPockets

Investing, Education, Business

4.8 • 16.6K Ratings

🗓️ 20 February 2024

⏱️ 47 minutes

🔗️ Recording | iTunes | RSS

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Summary

Want to know how to set your kids up for LIFE? The answer is pretty simple: rental properties. Whether you plan on keeping them or giving them to your children later in life, rental properties are one of the best ways to secure generational wealth for your children, their children, and many generations to come. But how do you give your kids everything while ensuring they stay hard-working, frugal, and financially savvy? We’re gonna show you how. Welcome back to Seeing Greene, where David, Rob, and special guest James Dainard answer your legacy-building questions. First, Falisha wants to know how to create generational wealth for her children. James gives an interesting take on why he’s NOT giving his kids rental properties but doing something that’ll make buying a home MUCH easier when they come of age. An investor on the BiggerPockets forums asks when to put appreciation over cash flow, an almost-financially-free investor wonders when he should go full-time into real estate, and a young investor wants to know how to start investing in real estate when his local market is too expensive. Want to ask David a question? If so, submit your question here so David can answer it on the next episode of Seeing Greene. Hop on the BiggerPockets forums and ask other investors their take, or follow David on Instagram to see when he’s going live so you can jump on a live Q&A and get your question answered on the spot! In This Episode We Cover: How to start creating generational wealth and set your kids up for LIFE! Getting around estate taxes by putting your assets in a trust Cash flow vs. appreciation and when breaking even is actually a major win When to leave your job to become a full-time real estate investor (think TWICE about this) The easiest way to start investing in real estate, especially when you have little money or experience Investing in townhomes and the one BIG expense most investors overlook And So Much More! Links from the Show Find an Agent Find a Lender BiggerPockets Youtube Channel BiggerPockets Forums BiggerPockets Pro Membership BiggerPockets Bookstore BiggerPockets Bootcamps BiggerPockets Podcast BiggerPockets Merch Join BiggerPockets for FREE Learn About Real Estate, The Housing Market, and Money Management with The BiggerPockets Podcasts Get More Deals Done with The BiggerPockets Investing Tools Find a BiggerPockets Real Estate Meetup in Your Area Expand Your Investing Knowledge With the BiggerPockets Books Be a Guest on the BiggerPockets Podcast Grab Dave’s New Book, “Real Estate by the Numbers” Hear James on The “On the Market” Podcast David's BiggerPockets Profile David's Instagram Rob's BiggerPockets Profile Rob' Instagram Rob's TikTok Rob's X/Twitter Rob's YouTube James' BiggerPockets Profile James' Instagram BiggerPockets' Instagram The Renovations That’ll Instantly Increase Your Home Value w/James Dainard and Jessie Rodriguez Connect with Falisha Falisha's Instagram: @falisha_rexford Falisha's Website Click here to listen to the full episode: https://www.biggerpockets.com/blog/real-estate-897 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	This is the BiggerPockets Podcast Show 897.
0:04.0	What's going on everyone? This is David Green, your host of the BiggerPockets Real State
0:08.2	podcast and if you're listening to this podcast you are a part of the growing and thriving bigger pockets community and a part of the show.
0:16.3	In today's show we have a Singh Green episode.
0:18.5	This is where we get to connect with community members like you directly by answering
0:21.7	listener questions that everyone can learn from.
0:24.0	And I've brought backup.
0:25.7	I've got Rob Abbasolo here with me to start.
0:28.0	How are you, Rob?
0:29.0	Hello, I'm excited, man.
0:30.4	I'm excited because you and I were just discussing our trek out into the snow into the
0:36.2	wilderness to do some snowshoeing in a couple of weeks.
0:39.2	That's going to be fun.
0:40.2	Yeah, we can't wait to go snowshoeing.
0:42.5	It was pitched to us and I was like,
0:43.8	does that just mean walking in snow?
0:45.3	And they're like, yes.
0:46.2	And I was like, I think I'd rather just sit by a fire.
0:49.2	But yeah, you know, if it's by your side, my friend,
0:52.0	then I'm excited.
0:53.0	It's kind of like when you as a parent try to sneak vegetables in
0:56.8	your kids food, they're like, yeah.
	...

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