I have a quick question for those of you that have been in the real estate sector for the last ten years or more. What are you advising your children and grandchildren, as far as careers and why? I’m just curious to hear from those who have been in this industry and your confidence in the future.

Well I advise my children and grandchildren to do what they love, and to try to figure out how to get paid for it.

But as to my confidence in the future, real estate sales will be here for a long time, IMHO. You have to adapt to the market conditions and be willing to change with the market. Right now the foreclosure specialists are as busy as they can be. 10 years ago listing was the only thing that made sense. Today buyer's agents and REO listing agents are busy, but in some areas the regular listing agents are still doing well.

If they love drinking margaritas and getting hammered on the beach all day, I couldn't recommend that so I advise my children (and future grandchildren) to be in service to others and to use their God-given talents.

"God gave you the talent and the desire, but you gotta fill out the job application," I say.

"If they love drinking margaritas and getting hammered on the beach all day, I couldn't recommend that"

That is truly funny. I couldn’t help but think about what your buddy Fabio was doing for the first couple of years before his success as a romance cover model.

I am NOT advising my son to become a Realtor. LOL.

I've told him to go to work in a large hospital or join the military for at least the first 5 years after he finishes school. If he likes either of those, stay with them. If not, get into some sort of private practice clinic and then later, become an independent practitioner (he's in the physical therapy field).

And then, if he's settled in one location, and he thinks he'd like to have rental property (and he knows what that entails because he's worked on my rentals from a young age), to start buying some.