Father Gifts Daughter A Home for Her 13th Birthday To Teach Her How To Build Generational Wealth...

Simply_Black

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...... obviously a good idea in principle BUT is 13 years a bit too young to start off with such a big responsibility? Then again, I suppose with the right support and guidance along the way she will eventually learn to appreciate the value of the home and what it can do for her future.




Nowadays, it’s common for a girl to receive jewelry, shoes and maybe a phone or some sort of technology for her 13th birthday. But Avee Shabazz of Birmingham, Alabama wanted to give his daughter a gift that would last much longer. So he bought her a three-bedroom, two-bathroom home to help establish her financial future.

“The door is already unlocked,” Shabazz said while handing Ajala the keys to the home.

“I don’t know too many people who had their dad, like, give them a house,” said Ajala Shabazz who turned 13 on July 4, 2020.

His thinking: “Let’s prepare them early,” he said. “Let’s put them in a position early at 13, gift her with a house at 13, teach her how to use that house to build more houses.”

Shabazz said he bought the house for his daughter to help build generational wealth. He saw this house as the starting place to help her begin to create her own financial freedom.

“The objective is to be comfortable,” said Shabazz. “Whatever that means to her is what it means to her. She determines that, right? If she’s cool with having a house without paying bills and working a job, that’s her choice, right? But if she wants to grow it into a multi-million- dollar empire, that’s her choice.”

Ajala says she was excited to receive the big gift, but she also admits she was a little scared.

“I felt like I was too young, you know?” Ajala said. “Like, people always say you’re too young to do this or do that and my dad just gave me a house when I was 13.”
 
Good shit. I remember in college one of my football teammates grandfather bought him a steel converter, taught him how to use and the kid started his own business at 13 doing it clearing 80-100k back in late 80s-early 90s.
 
I’ve got a friend with two daughters who gave them each 5 rehabbed rental houses for their 18th. Each house has about 40% debt to value and produces enough income to live comfortably, but not extravagantly. They have to manage the properties well and know when to hold them and when to trade. The kids have wealth, but also hone their business skills
 
Props to the family!

My cousin had a nice similar experience with his now-late mom.

She got him involved with real estate when he was around 16 - 17yo on a rental property (they co-owned it) and things went from there.
 
I’ve got a friend with two daughters who gave them each 5 rehabbed rental houses for their 18th. Each house has about 40% debt to value and produces enough income to live comfortably, but not extravagantly. They have to manage the properties well and know when to hold them and when to trade. The kids have wealth, but also hone their business skills




:thumbsup:
 
...... obviously a good idea in principle BUT is 13 years a bit too young to start off with such a big responsibility? Then again, I suppose with the right support and guidance along the way she will eventually learn to appreciate the value of the home and what it can do for her future.




Nowadays, it’s common for a girl to receive jewelry, shoes and maybe a phone or some sort of technology for her 13th birthday. But Avee Shabazz of Birmingham, Alabama wanted to give his daughter a gift that would last much longer. So he bought her a three-bedroom, two-bathroom home to help establish her financial future.

“The door is already unlocked,” Shabazz said while handing Ajala the keys to the home.

“I don’t know too many people who had their dad, like, give them a house,” said Ajala Shabazz who turned 13 on July 4, 2020.

His thinking: “Let’s prepare them early,” he said. “Let’s put them in a position early at 13, gift her with a house at 13, teach her how to use that house to build more houses.”

Shabazz said he bought the house for his daughter to help build generational wealth. He saw this house as the starting place to help her begin to create her own financial freedom.

“The objective is to be comfortable,” said Shabazz. “Whatever that means to her is what it means to her. She determines that, right? If she’s cool with having a house without paying bills and working a job, that’s her choice, right? But if she wants to grow it into a multi-million- dollar empire, that’s her choice.”

Ajala says she was excited to receive the big gift, but she also admits she was a little scared.

“I felt like I was too young, you know?” Ajala said. “Like, people always say you’re too young to do this or do that and my dad just gave me a house when I was 13.”



Hes def going to manage it for her. This is a great idea. Let this be a trend.
 
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