Real Estate 101 at Fairchild Wheeler
On April 26 I joined my friend David Wallace’s 12th Grade Business Math class at Fairchild Wheeler Inter-District Magnet High School in Bridgeport, CT to guest teach a “Real Estate Investing 101” lesson.
I taught the students what a capitalization rate is, how to calculate it, and why it matters. David and I then engaged the students in a mock sales call on a sample, real world multifamily apartment complex in Connecticut. He pretended to be a broker hilariously and emotively pushing the world’s best buy and I guided the students through a cool-headed review of the property’s economics. When it came time for the students, acting as my “investment committee,” to vote on the acquisition their teacher’s pitch fell flat. Acquisition unanimously rejected!
It was great to see the level of interest the students had in real estate investing and it was really fun to guide them through a real world analysis. As I left the class I thought about how urban schools could play a role in developing home-grown real estate talent in places where many properties are bought, sold and rented by outside investors.