Podcast Summary: Real Estate Rookie - Episode: Teaching Real Estate Literacy

Podcast Information:

• Title: Real Estate Rookie
• Host/Author: BiggerPockets
• Description: Aimed at aspiring real estate investors building their first few deals, the podcast serves as a personal trainer with detailed deal breakdowns, coaching sessions, and a supportive community. Hosts Ashley Kehr and Tony J Robinson engage with a variety of guests to address common questions and guide listeners toward financial freedom.
• Episode: Teaching Real Estate Literacy
• Release Date: July 15, 2025

Introduction

In this special bonus episode of the Real Estate Rookie podcast, hosts Ashley Kerr and Tony J. Robinson delve into the critical topic of real estate literacy, particularly focusing on educating young people. This episode features an insightful interview facilitated by Diana, a principal involved in financial literacy programs for students.

The Importance of Real Estate Literacy for Youth

Ashley Kerr underscores the significance of early financial education, stating, “One of my biggest pet peeves is that I've seen people graduate high school and not even know how to read a check or write a check” [04:04]. She emphasizes that understanding real estate investment can build long-term wealth through appreciation and cash flow.

Tony J. Robinson complements Ashley’s analytical approach by highlighting the alternative realities of not investing in real estate. He remarks, “If you don't build something alongside your W2 income, then you'll have to get up and go to work every day until, you know, you're however many years old” [04:51]. This perspective fosters a mindset shift towards financial independence and freedom.

Key Lessons in Real Estate Education

The conversation pivots to the core lessons educators should impart:

• Analyzing Deals: Teaching students how to evaluate real estate deals by understanding numbers, such as appreciation, equity building, and cash flow.
• Mindset Development: Instilling the importance of building assets over liabilities and preparing for long-term financial stability.

Ashley elaborates, “Show them what the money is coming from to buy it, show them what the expenses are going to be, show them what the cash flow is going to be, what does the risk look like?” [04:04].

Tony adds, “What is the alternative look like to not investing in real estate?” [04:51], encouraging students to consider the long-term benefits of investment over traditional employment.

Common Myths about Real Estate Investing

The hosts address prevalent misconceptions fueled by social media and influencers:

• Over-Simplification of Success: Many young people believe real estate investing is an easy path to wealth, often propelled by misleading portrayals online.

Tony warns, “Don't believe everything you see on social media... the influencers who are driving fancy cars and living in high-rise apartments... start to get this unrealistic view” [06:42].

Ashley reinforces this by highlighting the unpredictable nature of real estate, noting, “this isn't like a, in most cases isn't a get quick rich scheme” [07:59]. She stresses the importance of focusing on long-term strategies rather than quick profits.

Balancing Excitement with Realism

The discussion moves to balancing motivational aspects with realistic expectations:

• Inspiring Through Vision: Encouraging students with the possibilities of financial freedom and generational wealth.
• Grounding with Reality: Emphasizing the hard work, potential failures, and resilience needed to succeed in real estate investing.

Ashley reflects on her and Tony’s differing approaches: “I am so analytical and Tony is such a better, like, visionary” [06:16], which together provide a comprehensive learning experience.

Preparing Young Investors: Practical Steps

The hosts offer actionable advice for young individuals interested in real estate:

• Continuous Education: Encouraging the use of podcasts, YouTube, books, and other resources to build foundational knowledge.
• Networking: Recommending participation in local real estate groups, meetups, and online forums like BiggerPockets to gain practical insights and mentorship.

Ashley advises, “Go there and just be honest with people. Hey, I'm just looking to learn. Can I come work for you? Can I do this for you? Can I intern with you?” [13:34].

Recommended Resources and Materials

To facilitate effective teaching and self-learning, the hosts suggest essential reading materials:

• "Real Estate Rookie: 90 Days to Your First Investment" by Ashley Kerr: A practical guide outlining step-by-step processes for securing the first real estate deal [17:15].
• "Rich Dad Poor Dad" by Robert Kiyosaki: Recommended for developing the right mindset towards building wealth through assets [18:11].

Tony emphasizes the value of these resources for both educators and students: “Ashley’s book on the tactical side. And then Rich Dad Poor Dad on the more like mindset side” [18:51].

Real-World Projects for Students

To reinforce theoretical knowledge, Ashley and Tony propose engaging projects:

• Deal Analysis Using MLS Data: Students select properties from the MLS, analyze financials using BiggerPockets calculators, and present their findings, fostering competitive and critical thinking [19:32].
• Negotiation Skills through Real-Life Scenarios: Encouraging students to contact homeowners, particularly for-sale-by-owner properties, to practice negotiation and deal-making [21:01].

Ashley suggests, “Having them analyze a property, presenting their deal, and comparing outcomes... adds a competitive edge” [20:52].

Emphasizing Mindset and Resilience

A significant portion of the episode focuses on the importance of embracing failure as a learning tool:

• Learning from Setbacks: Teaching students that failures are integral to success and should be viewed as opportunities for growth.

Tony shares a personal anecdote: “You've got to look at it as something that's necessary to get to that next step” [10:25].

Ashley adds, “But honestly, Tony is the best one to talk about this because like, for the first couple years we were podcast hosts. He literally every day would come out with this lesson that he taught his son” [10:25].

Q&A Highlights

During the interview, several key questions were addressed:

• Effective Teaching Techniques for Educators: Tips on how educators with limited real estate experience can confidently engage students, such as using structured resources and practical projects.
• Building Personal Financial Foundations: Guidance on understanding personal finance basics, loan pre-approval processes, and the importance of living within one's means [14:00].

Ashley mentions, “Understanding personal finances as to like, what are some of the basic elements of having a strong personal foundation” [14:00].

Conclusion

This episode of Real Estate Rookie serves as a comprehensive guide for educators and young aspiring investors to understand and engage with real estate literacy. By combining analytical skills with a resilient mindset, and leveraging recommended resources and practical projects, the hosts provide a robust framework for building a solid foundation in real estate investing. The discussion highlights the importance of early education, realistic expectations, and continuous learning as cornerstones for financial independence and success in the real estate market.

Notable Quotes:

• Ashley Kerr [04:04]: “One of my biggest pet peeves is that I've seen people graduate high school and not even know how to read a check or write a check.”
• Tony J. Robinson [04:51]: “If you don't build something alongside your W2 income, then you'll have to get up and go to work every day until, you know, you're however many years old.”
• Tony J. Robinson [06:42]: “Don't believe everything you see on social media... start to get this unrealistic view of what real estate actually looks like and the amount of work that actually goes into it.”
• Ashley Kerr [07:59]: “This isn't like a, in most cases isn't a get quick rich scheme.”
• Tony J. Robinson [10:25]: “You've got to look at it as something that's necessary to get to that next step.”

This detailed summary encapsulates the essence of the Real Estate Rookie episode on teaching real estate literacy, providing valuable insights and actionable advice for both educators and young investors embarking on their financial journeys.