Teaching Real Estate To High School Students

[Hank Outlaw]

Hello,

This is kinda off topic, but real estate related so I thought I'd throw this out to any of you that teach or have taught real estate classes.

I got a call this afternoon to fill in tomorrow for a Life Skills class of a local high school. The topic he is beginning tomorrow deals with real estate. I would like to start the topic off on a good note, and with less than 24 hours to prepare, with no prior teaching experience and no material, thought I'd ask / beg for any assistance that you could offer!

Thanks,

Hank O.

P.S. I know that Powerpoint would be nice, but I don't have that right now.

 

[Dee Dee]

Hank,
Before I would consider talking about real estate to a bunch of 17-year-olds, I'd make sure that the teacher has already EXTENSIVELY covered some other very pertinant financial management skills first. Like...do they know how to balance a checkbook, manage credit, figure out how much their income needs to be in order to pay for basic life necessities? Remember, most of these kids are still financially dependant on their parents, completely wet behind the ears. If you've got a teenager you'll know exactly what I'm talking about here.

If they don't have a grasp on those things already, then real estate is waaaay over their heads.

 

[Hank Outlaw]

Dee Dee,

Thanks for the post. That's my line of thinking also. I want to keep it very basic, with their age / stage of life in mind. The topics you've mentioned have already been covered. I am mainly looking for any quotes, anecdotes, facts / figures, etc. that may help keep their attention if possible. I have run across some info on the internet that may help.

Thanks,

Hank O.

 

[Dee Dee]

Hank,
Good luck, and let us know how it goes!

 

[George Hatch]

Real estate and life skills for a high school kid relate to how to rent an apartment more than how to buy a house. You might want to point out the differences between the two.

I'd show them how to look for apartment rentals, what to expect in the way of additional expenses for utilities and such, maybe print out a standard rental agreement and maybe even touch on the need to maintain a decent credit history because some property owners check that before renting an apartment.

Maybe throw some quickie comparisons up on the board or the overhead, showing how to do a comparo between apartments based on number of bedrooms, baths, onsite parking, etc. And then work backaward on how much income a person should spend on their housing and what it takes to earn that income. That's the stuff these high school kids should be looking at.

 

[Kate]

Originally posted by George Hatch@Feb 22 2005, 08:35 PM
Real estate and life skills for a high school kid relate to how to rent an apartment more than how to buy a house. You might want to point out the differences between the two.

I'd show them how to look for apartment rentals, what to expect in the way of additional expenses for utilities and such, maybe print out a standard rental agreement and maybe even touch on the need to maintain a decent credit history because some property owners check that before renting an apartment.

Maybe throw some quickie comparisons up on the board or the overhead, showing how to do a comparo between apartments based on number of bedrooms, baths, onsite parking, etc. And then work backaward on how much income a person should spend on their housing and what it takes to earn that income. That's the stuff these high school kids should be looking at.

Absolutely. Sounds great!!

These kids are bombarded with credit card offerings. They think it's a license to spend. Teens get them selves in big trouble early. 7 years till that one mistake goes away.

 

[Mike Garrett RAA]

I guess it depends on your school system. Some high school kids are very advanced...others well behind the power curve. Scope of work....talk to the teacher first. Find out how much time you will have.

Keep it simple. I think I would approach it this way.

1. Ask ...."how many of your parents rent and how many own?

2. What do you think the biggest advantage is to owning a home?

3. Is high school too soon to begin thinking about home ownership?

4. How does a person go about buying a house?

5. What are the different kinds of ownership.

6. I am sure you have seen offers on TV for home loans, let me explain the three basic types of financing (Conventional, FHA, and VA)

7. How does a person (family) qualify for a home loan (basics...income, credit, etc)

8. The secret to wealth is leverage. A new term for you, let me explain.

9. The process....looking for a home with a real estate agent or buying from an owner direct.

10. Briefly explain the terms ... offer, contract, mortgage, and closing.

11. Tell them you are an appraiser and how you fit into the process.

12. Explain how a person can become an appraiser.

Those 12 items at 5 minutes each will fill an hour. which is more than enough for a high school class. Let them tell you how detailed to go. Interaction with questions for them and them asking you questions.

Good luck...I wish you well.

 

[Hank Outlaw]

Thanks for your responses.

I just found a great website for my needs. Its just what I was looking for and I don't think I could expect to find any better info for teaching a group of high schoolers. It located at www.practicalmoneyskills.com and has lesson plans for K-12 and above, including budgeting, homebuying, shopping for an apartment, preparing for a child (beyond high school I would hope!), etc. Thanks for the tips.

The teacher said it was fine with him if I taught the section on real estate, so it will probably take a few weeks. The class size is small, and these are some great kids... two of the students are #1 and #2 in their class. The basic goal of the class is to prepare them for life after high school, with or without college. I think that all of them will go on to college, whether its a local 2 year school or a 4 year university. Thanks again.

Hank O.

 

[Bill Rose]

High School kids are more mature now than 30 years ago. They are quite fluent in business concepts, higher math and communications. They need to understand the difference between owning, renting, and investing and how to weigh their options.

 

[Kate]

Originally posted by Bill Rose@Feb 22 2005, 11:22 PM
High School kids are more mature now than 30 years ago. They are quite fluent in business concepts, higher math and communications.

:rainfro: :rainfro: :rainfro:

OMG...Deep breath :rainfro: I actually think that is the funniest thing I have ever heard!! :rainfro: :rainfro:

Bill, are you talking about high school kids in Japan?? China?? Heck, anywhere other than America??? Or were you being facetious?