A Charlie Brown Real Estate Lesson

On Friday I mentioned that I was taking my 14-year-old son, Ernie Jr., to learn a little more about real estate. I had just acquired another probate property, and I thought this would be the perfect opportunity to walk him through the process of what happens once we pick up the keys to a house.
I have taught different aspects of this business to my two older girls. Now it’s Ernie Jr.’s turn.
My oldest, who is now in her early 20’s, spent her early childhood at the probate court. As a little toddler she learned all about pulling probate records and and was on a first name basis with just about every probate clerk.
I think today she is more connected than I am because a few years ago she spent a day with one of the local judges in her personal chambers and has an open door to visit as she desires.
Anyway, I’ve been trying to get my son deeper into real estate since he’s been ten years old when he watched A Charlie Brown Christmas.
There is a scene in that movie that has stuck with him over the years.
https://www.youtube.com/watch?v=vzmidvCBeoc&t=121s
Lucy is complaining about the usual gifts she gets for Christmas such as toys, bicycles, clothes etc. instead of what she really wants.
Lucy Van PeltI know how you feel about all this Christmas business, getting depressed and all that. It happens to me every year. I never get what I really want. I always get a lot of stupid toys or a bicycle or clothes or something like that.
Charlie BrownWhat is it you want?
Lucy Van PeltReal estate.Our conversation that followed…
Ernie Jr.: Dad, you don’t need to get me toys. I want real estate this year for Christmas!
Me: Well son, you can have all the real estate you want but you need to go out and learn how to obtain it, know what to do with it once you obtain it, and then go out and get to work on obtaining it.
Well that is exactly what we worked on this weekend.
We explored various exit strategies and I brought in his sisters to help him explore what the best option would be for this property.
Stay tuned as these kids are due to report back to me what they believe is the best strategy for this single family residence.
Committed to your success,
Ernie “Taking Notes From Charlie Brown Christmas” Vargas | The Probate Fox
Ernie