Today’s guest is Mai Lee. On today’s show, I chat with Mai about the lessons she has passed onto to her kids, especially as it relates to investing in real estate, how she used the GISS method to teach her kids about responsible financial money management and how she gets her kids involved in their vacation rental property.
Mai is an entrepreneur and real estate investor with a portfolio of real estate properties. She is a multiple award winner in the real estate industry, winning Top Player of the Year and Renovator of the Year Awards to name a few from the Real Estate Investment Network (REIN). She also has won multiple Landlord of the Year awards from the Calgary Residential Rental Association. Mai is based in Calgary, Alberta and is also a mom to 2 kids.
- Mai’s origin story and her childhood experiences in relation to money
- What helped Mai understand how she could make money work for her
- The unintended lesson that her mom taught her about money
- How real estate provided financial stability to have money work for her
- What mindset she is imparting on her kids on how real estate can be their foundation
- How Mai became an accidental real estate investor
- The positive that came out of the pandemic through the building of their forever home
- The lessons she taught her kids during the pandemic including using equity to fund other real estate investments, negotiating contracts, how to force appreciation and the benefits of building in a transit oriented community
- How the building of her garage suite provides multi-generational home options
- How she made the decision to invest in real estate to build wealth
- How she invested in herself in personal development and what gave her confidence to move forward in real estate
- How she first used allowances to teach her kids lessons about money and why she ultimately decided to pivot away from that
- Her creative method to teaching her kids about compound interest
- Her creative method to tangibly teach her kids concepts about the benefits of buying a rental property as well as concepts such as rental income, mortgage payments and refinancing, using a kinder egg advent calendar
- How she used the GISS (Give, Invest, Save and Spend) method to teach her kids responsible financial management
- How she gets her kids involved in their active Canmore vacation rental and the benefits her kids can take away
- How the GISS method has provided her kids with a tactile feel for money and helped them in developing a better relationship with money
- How she teaches her kids the concept of joint venture partners, including recognizing what their own skills are to partner with other people
- How she involves her kids in reviewing their rental portfolio of properties
- Real Estate Investing in Canada, Creating Wealth with the Acre System by Don Campbell [Amazon Affiliate link]
- Real Estate Investment Network (REIN) | website
- The GISS method of managing money (Give, Invest, Save, Spend) and the Wela Way by Nancy Phillips
- Circut Joy cutting and writing machine | website
- Atticus Homes Investments | instagram
- Follow and tag moneydadpodcast on Instagram to comment on topics and ideas discussed during the episode that resonated with you
Thanks for listening!
Have some feedback you’d like to share? Leave a note in the comment section below!
If you enjoyed the episode, please share it on Instagram.
Like this show? Please leave a review on Apple or Podchaser – even one sentence helps! Ratings and reviews are extremely helpful and greatly appreciated! They do matter in the rankings of the show, and I read each one of them. Post a screenshot of you listening in Instagram and tag me so I can thank you personally!
Don’t forget to subscribe to the show to get automatic updates. I’ll be dropping a new episode every TUESDAY!
Thanks to Mai for joining me this week!
Make sure to catch up on last week’s episode “Episode 004: Future-proof your child through entrepreneurship and introduce money words to young children with Rob Phelan”!