PHOTO: Jessica Golden | CNBC
How do you get inner-city kids off the streets? Give them a vested interest in those streets and a stake in the property around them.
That is the philosophy behind a new program that teaches teens financial literacy through investments in real estate. Kids are taught how to value and finance local apartment buildings, and then given the opportunity to share in real profits from those properties.
“Everything we do is pragmatic. You buy a building and then they share in the upside,” said Cedric Bobo, principal and co-founder of Project Destined.
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