Christian Osgood argues that most landlords build from nothing, not inherited wealth. He started as a screen-printer, moved into sales, saved aggressively, and built a real-estate portfolio. He asks whether giving your kids a head start is wrong if you do get rich.
Chapters
He's a landlord with rich parents. Most owners of real estate don't have rich parents. They either made it and their kids have no interest in inheriting the portfolio, so the empire crumbles in a generation, or it's someone with a chip on their shoulder, maybe someone who even immigrated from another country to make it in America. A lot of the people I interview on Multifamily Strategy, these are business owners and real estate owners who, yeah, they started with nothing. Myself, I started as a screen printer making $11.50 an hour. It wasn't even screen printing shirts. It was cleaning the screens with chemicals. I went from there to a job that made a mighty $40,000 $100,000 a year that I worked for 2 years before I started climbing a sales job, saving and saving, saving. I started with $0 in my pocket and here's where we ended up. So, uh, wasn't true for me, isn't true for most people. Though, worth asking the question, if you make it in your generation, do you want to pass something on to your kids? And is there anything wrong with them starting with a head start when you make it? Food for thought.