When I was little, my cousin and I wrote up a lease agreement for a “farm plot” and gave it to my Grandfather. We would “farm” what amounted to be a garden in exchange for caring for some of his poultry. We were 9 and 6 years old. I guess real estate investments were in my DNA before I know what they were. Today, my partner (same cousin) and I own real estate investments in Arizona and Colorado. Additionally my family has real estate investments in Missouri, Montana, Colorado and Arizona.
Lesson Learned: After reading Robert Kiyosaki’s Rich Dad / Poor Dad book I learned that passive income is a sure ticket out of the “rat race” and real estate has significant tax advantages. We’ve been active in real estate investing for more than 30 years.