Avee Shabazz of Birmingham, Alabama, wanted to help his daughter achieve her own financial freedom, so he bought her a three-bedroom, two-bathroom home for her thirteenth birthday. I only got a birthday cake for my thirteenth birthday, and Ajala Shabazz gets a house, wow (congrats to her though, a house is such a big deal!). Her dad wanted her to be comfortable as she grows up, as Atlanta Black Star details:
“The objective is to be comfortable,” said Shabazz. “Whatever that means to her is what it means to her. She determines that, right? If she’s cool with having a house without paying bills and working a job, that’s her choice, right? But if she wants to grow it into a multi-million- dollar empire, that’s her choice.”
Ajala says she was excited to receive the big gift, but she also admits she was a little scared.
“I felt like I was too young, you know?” Ajala said. “Like, people always say you’re too young to do this or do that and my dad just gave me a house when I was 13.”
She says she instantly thought of all the things that could possibly go wrong.
“I’m not very good when it comes to responsibility,” she admitted. “And when I’m given responsibility, I suddenly feel anxious and nervous. Am I going to screw this up? Is something bad going to happen? I just think of all the possibilities.”
But her dad stepped in to offer her some encouragement. He believes she is ready and responsible enough. Shabazz is a real estate investor and says Ajala simply needs to do what she’s watched him do over the years.
Image via Atlanta Black Star
dang a home
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This is great I think people underestimate the opportunity for a while from the real estate market. She now has a passive stream of income meaning she'll earn money in her sleep
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Maybe a tax dodge. Rental income from the house or capital gain from its resale will be taxed at her no-other-income bracket rather that at dad's presumably higher one.
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