At the ages of 10 and 12, brothers David and Zach Tanner have already purchased a real estate property with their own hard-earned money. The pair started a lemonade stand business seven years ago and have used the cash they earned to fund their first real estate venture.
Zach, 12, and David, 10, are currently in Sydney for an interview with Robert Kiyosaki – the author of finance book ‘Rich Dad Poor Dad.’ The pair are considered to be the youngest to invest in a property using their own earnings.
Additionally, the pair have now used profits from the sale of share options to invest in the construction of apartments in Texas.
The goal of twelve-year-old Zach is to be financially free when he becomes an adult. He likes the idea of buying real estate properties to accomplish financial freedom.
“I don’t want to live with my parents when I’m older … so I wanted to learn about real estate,” he said.
David has the same goal and wants to continue investing in the stock market as well.
Share investor and father of the two, Andy Tanner, noted that his children are otherwise like other children, but had a strong drive to invest in properties.
This urge began when the pair were aged five and three respectively, and told their father they wanted to start a business. The idea of making a lemonade stand was ideal, being an easy business for children to operate.
Andy said his children used their own hard-earned money and he did not give them any funds to make their purchase. The pair resisted spending their earnings as they recognised the worth of investing at an early age.