“If you have young kids, one of the best things you can do for them is to purchase a property now,” explains Michelle Oddo, Lender with the Oddo Group - Luminate Home Loan. If you are a parent, it’s natural to want to set your children up for success. With this in mind, Michelle discusses leveraging real estate to take care of your family for future generations.
There are multiple strategies for levering real estate to benefit your children. You can use the equity from your home to pay off your kids’ tuition or simply buy an investment property that you can purchase with them. Ultimately, if you have the resources to invest in real estate, you should do it because, no matter what, it can benefit your family down the road.
If you have the resources, investing in real estate should be a priority in family planning. Learn more about how homes appreciate over time, leveraging real estate equity to pay for college, and why you should monitor your kids’ credit.
“If you have young kids, one of the best things you can do for them is to purchase a property now.” (1:04-1:10 | Michelle)
“If you have a young kiddo, and you've been investing, or you have a 401k and some equity in a home, it's a good strategy.” (14:24-14:33 | Michelle)
“If you can buy and afford it, do it. Refinance down the road, and then you get the best of everything.” (20:05-20:10 | Michelle)
“I feel it is important today to teach my kids to think critically, ask questions, and not take everything at face value.” (28:58-29:07 | Michelle)
“The best wisdom you can give somebody is not to be afraid to ask questions, advocate for themselves, and understand why they're doing what they're doing, so they can make good decisions.” (30:02-30:13 | Michelle)