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Entrepreneur

How to Make Your Child a Real Estate Investor

podcast March 21, 2022 1


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This episode with Alex Edwards was inspiring! Alex got his start in real estate after his college professor gave an assignment to buy something and treat it like a business. At 20 years old, he decided to buy a multifamily property for his assignment and left school because he couldn’t pay for school and the mortgage.

Unfortunately, he purchased his property during the subprime lending crisis and got a bad mortgage. He was able to save his house by getting a loan modification.

Alex became a real estate agent and eventually got his broker’s license so he could start his own brokerage. In addition to his business, he continued flipping properties and buying rentals with his wife. When his mother wanted to sell his childhood home, he bought it from her and paid out his siblings to keep it in the family. One of his proudest moments in building condos in the neighborhood he grew up in.

In this episode, we discuss the Boston real estate market, growing your real estate business, keeping homes in the family and more.

Highlights

1) If there is a family property left to you and multiple family members, if the others want to sell you should consider buying them out so the property stays in the family.

2) If you live in Boston, there are a lot of programs that incentivize home ownership and provide support even though it’s an expensive market.

3) If you’re looking to get into development, don’t reinvent the wheel. If the standard is 3 bed/2 bath for the area. do the same thing. From there you can add unique features to set yourself apart.

How to find him

IG- @alexeedwards

Access all of our resources on our website- https://www.blackrealestatedialogue.com/links

Join the B.R.E.D. Investing Community for $1- https://bit.ly/joinbredcommunity

Download my free guide Top 5 Down Payment Assistance Programs- https://bit.ly/dpassistance1

Join the waitlist for my new course “A Beginner’s Guide to Finding Your First Tenant”

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