By: Kito J. Johnson
As a single father, I involve my children in nearly everything I do. I’m the broker of a realty firm. That means lots of business meetings and time spent with associates, and they all know who my children are. Family is a very important aspect of my life and so is my business and anyone who knows me will agree.
Many professionals love to imagine the idea of their children filling in their shoes and continuing their legacy. Whether it be their business, professional involvements, or even personal endeavors. It would make us more than proud to see them carry on something we built and make it greater well after we are gone. The true definition of generational wealth.
I first discovered my son, Immanuel, becoming interested in entrepreneurship around the age of 9, not unlike myself. He would look for opportunities to sell or help out with something. By 12, he was selling things online and charging people a percentage to do so. To his credit, he’s sold anything from candy to cars, furniture and art, even a 48-passenger bus and an 18 wheeler.
But I imagine it was the constant exposure. By watching me in real estate, being attentive in my meetings, observing my actions, he got that constant exposure he would need with the equal advantage of a college internship. And like a child ahead of his time, he took advantage of the opportunity. Summer breaks were spent joining me everywhere I went. My investors and mentees knew him. He would overhear meetings and presentations and through that he picked up on the language of the business, in turn developing a passion for it.
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Curiosity
Immanuel has always been a good researcher. As a broker, I’d log into my MLS account and he’d sit and watch me and then he’d go and log in on his own and property-search for himself, looking up comps and values of properties. He’d then set up email alerts for areas I was interested in and email me suggestions. I’d look at them, thoroughly impressed with his attention to detail.
Now came time to test his chops. As a kid in school he obviously couldn’t set up meetings with clients or go prospecting so he found a ready prospect in the form of a family friend at a function we attended. She was discussing her desire to move but had concern about keeping her son in a certain school district and she also talked about her price point.
Almost immediately he logged into my MLS account and searched criteria based on her price range. Without communicating it with me he sent a property to my client, called the listing agent, and set an appointment with the client to view the property. I found out through a text message he sent to me from school informing me that we had a showing appointment at 6pm that evening. When I asked him about it he explained what he had done.
To his advantage, the client was interested. He told me not to be concerned; he already called the listing agent and set the appointment at 6pm. Well, the client loved it and the next day they decided to make an offer on the home-which was accepted. Three weeks later they closed on the house. marking the beginning of a journey still being written for such a young man.
A growing passion
People often ask if my son is seriously passionate about real estate. I’d say he is but it’s not limited to the many other things he’s interested in. It’s not his only passion, but the financial rewards certainly intrigue him. And his involvement doesn’t end with the buying and selling side of real estate, but also the renovation, remodeling, layouts, and paint choices. He’s already a self-proclaimed design expert.
I do continue to train him, but it’s mostly in our daily exchange at the end of each day. He’ll tell me about his day at school and I’ll talk about my day at the office. Real Estate is a major part of my life so there’s always conversation around it. He has a keen ability to pick up on nuggets in natural conversation.
How do I get my child started?
If you would like your children to follow in your footsteps, there are some major keys to consider:
- Start early on. Children’s brains absorb environments like sponges. Introducing them to your profession or business in their adolescent years is key to successfully guiding them on a path to success.
- Don’t be afraid to challenge them. Let them learn, ask questions and even test them in subtle ways. Encourage them when they fail as well as instill in them critical thinking for independence.
- Expose your children to opportunities to be involved in wealth creation and entrepreneurship by being more transparent about your business and professional environment.
- Inspire them to go beyond their peers. Suggest ways to grow and think outside the box. A great way to practice is to continuously have conversations that challenge them.
Pass down your legacy
The key to this is to train without them knowing they’re being trained. Create opportunities for them to receive the information. If they could see, for instance, people their age with similar interests, this allows for a nurturing atmosphere, which promotes focus. Attend functions, seminars, and networking events with them.
Enroll them in programs and camps they can benefit from. The right books can be a good way to build their expertise. You could even make it fun by making games and competitions out of it if you have multiple children all interested in the same thing. Constant nurturing is beneficial to their
focus on the training. Uplift them. Allowing them to make mistakes and encouraging them when they do. Reward the wins and ask them about their goals.
Be the business partner to them that you always felt best working with. I am blessed to be in a profession that also inspires my children. They challenge me to not just do my best, but to always reach higher. Given the right encouragement, your children can do the same for you. As you show them that there are no limits to what you can achieve, the ceiling of limitation is removed from them as well!
BMWK, are you ready to change the game financially for generations to come?
FREE RESOURCE: Click here to download a FREE mini video training from the author – How Much House Can I Flip? This FREE mini video training shares insider secrets to determining how much house you can afford to flip in your area!
About the Author: Kito J. Johnson is an accomplished real estate broker who specializes in teaching others how to create generational wealth through principles of real estate investing and entrepreneurship. A licensed broker in four states, his stellar 20-year career boasts over 1,000 real estate transactions. A master networker and CEO of Atlanta-based brokerage, Buy N Sell, Inc., Kito has been dubbed “the guy to know” in circles ranging from community leaders to elite investors.