Think of the best birthday gift you ever received. What was it, and how old were you when you received it?
Taurean Thomas might have just received the best birthday gift from his mother for his 16th birthday, three homes.
The unusual gift is something Charlise Freeman hopes her son can use to not only change his life, but potentially his future children’s as well.
“The purpose of me giving them to him so young is so I can teach him and hopefully by the time he is fully ready, I can let him go, but this is something that we can do together,” the single mother told News 5 Cleveland.
Taurean had already expressed an interest in real estate, so Charlise thought it would be the perfect opportunity to give her son the rental properties.
All three are already occupied and generate revenue.
Charlise also gave her son $10,000 to renovate one of the properties.
“I want to keep doing real estate and then have another business, so I feel like everyone will see that I’m hardworking,” the teen said.
A recent analysis from Center for American Progress showed that the country’s Black homeownership rate stood slightly over 44% at the end of 2020, which was nearly unchanged since 2019.
Meanwhile the homeownership rate for white Americans increased to 74.5% from 73.7% over the same period.
While Taurean still has time to decide what he wants to do for a career, he knows that in the future he would like to keep the homes in his family and pass them down to his brother or his children.
“My thing is what do you want to pass along to your kids when you leave. I’m not about to pass along a bunch of bills,” his mother said.
“It all goes back to being able to leave him something that in the end of the day was always going to produce some type of income.”
I love this idea! What are your thoughts on gifting a child something that can produce income and help them live a successful life?
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