I'm RICH, RICH, RICH!!!!!!!!!!!!!!!

I'm RICH, RICH, RICH!!!!!!!!!!!!!!!

Real Estate Investor · the villages, FL · Member since 2008 · 5k+ posts · 3k+ votes

My guess is that you had mixed thoughts when you originally read the name of this topic. I wanted to generate as much interest in it as possible and hope it will serve as kind of a warning to a lot of people here on BP.

As many devout BP members know, approximately 10 years ago when my last child of six finally left home, my wife and I took off as full-time RVers for six years and had a fantastic time. Due to some a Real Estate challenge, I got back into real estate very actively in buying, selling, and building. I spent two years in South Texas doing exactly that, followed by moving to Florida to purchase and stabilize some real estate there.

With each of our last three moves we were moving further and further away from our children and grandchildren. There were still numerous opportunities to visit the kids and a few family reunions mixed in so it wasn't exactly going cold turkey from them. After 10 years, my wife and I sat down and made a list of the things that were positive about staying in Florida and also a list of reasons to leave. We finally decided it was time to go back to southern Utah where three of our six kids and seven of our 11 grandkids reside. It is also much closer to the rest of our family.

We moved to southern Utah approximately 6 months ago and it has been a great move. I haven't given up on real estate and actually have completed two spec homes and have purchased four more lots, just last week. The first two homes were built with my brother-in-law who lives here and the last two lots I purchased to build spec homes with one of my sons who lives here. This is the business end of it.

The reason for the title of this thread is the following.

Last Friday night, my wife and I were able to attend a birthday party for my 10-year-old grandson. It was great to see all the excitement of all the family members.

On Saturday my nine-year-old grandson from another family asked his single mom if she was going to have a Super Bowl party. She didn't exactly know what to do about this! Soon I received a phone call from her explaining the situation and asking if grandpa would put together a Super Bowl party for her family and invite the others. We had a great get together, pigging out, watching an exciting game, and enjoying the comraderie and friendship of each other. I had even been involved in a betting pool and told the five grandkids that were here, that if I won, I would divide the money equally between them. It kept them interested in the game! We actually won the quarter that ended 17 – 15 and it looked like there was a possibility we might even win the fourth quarter. That didn't happen.

During the Super Bowl party another granddaughter who was to turn 15 yesterday told me there was only one thing she wanted from me for her birthday. She asked if I would pick her up right in front of her middle school in my Viper! I told her sure and I was sitting there when school let out. When she got in the car she was smiling from ear to ear and felt she was on top of the world at least for a moment. My son married this girls' mother just a little over two years ago so I've only been a grandpa to this girl for only a couple years. My wife and I have become very close to this girl and her little seven-year-old sister. Life can be extremely hard for a 13-year-old in this day and age and I'm so glad we have been able to be involved in her life.

Last night we spent three hours at their home for her birthday party with a little seven-year-old sitting on my lap most of the time! Yes I'm rich.

I hope now you understand the reason for the title of this thread. I've mentioned before both on BP and in other forums how I wish I would've spent more time in the early stages of my career with my kids. I'm sure I still would've obtained the financial security that I have now, but I certainly feel I could've taken a little longer and spent a little more time with my small ones.

If any of you see signs that your kids or spouse are missing you, I would certainly urge you to try and reorganize your thought process and find time to spend on those things that are most important.

On the back of my book I have a picture of my wife and my six kids. Underneath the picture I have the following "best investments this author has ever made!" I wish I would've taken better care or at least equal care of these investments to care the other financial investments I have received.

The last thing I have written at the bottom on the back of my book is "I have learned that MAKING A LIVING is not the same as MAKING A LIFE". Unfortunately, we are never given a re-do. I hope you'll consider this when you find yourself putting in 12 to 16 hours a day on your real estate investments. Is this really what you want to remember 10 to 20 years from now?

Yes, I really do feel rich, rich, rich today but for none of the financial reasons. Rich

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Investor · -, IL · Member since 2010 · 409 posts · 616 votes
14y

Couldn't have been put any better.

The last property I purchased I did all the rehab myself and spent every weekend there. When my 5 year old daughter asked me early one Saturday morning "Daddy do you have to go work on the rental house again? I wanted you to sit and watch cartoons with me". It literally broke my heart having to go and work on the house.

I learned my lesson and things are different with the current house we just purchased. I did the demo myself which took 1 weekend, have a contractor doing all the remodeling and I will finish doing the painting. The next house I plan on trying to stay completely hands off, only checking in on the contractor.

My kids are only this little once and I will never get this time back. So what if I have to work a few more years when I am older. At least my kids will have great memories of me when they were little, not memories of daddy always being gone or too busy.

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  • Real Estate Investor · Hartford, CT · Member since 2011 · 222 posts · 17 votes
    14y

    Rich, Awesome post! i had to reply...

    Here's my question for you and anyone else who wants to chime in.

    Im 20 years old rich and i have a son. However, im working 14 hrs days sometime mainly because i want to grow my business but also because i love it so so much. i enjoy.

    Now, i dont love this business enough to not be there for my son or even spend time for him. but my question to you guys is "How do i do both? buidl a business and raise a child/take care of a family? This business is used to provide a better life? rights guys? How do i do both??

    Can you guys please provide a young guy some direction, please!

  • Jesse PollPro Member
    Real Estate Agent · St George, UT · Member since 2012 · 78 posts · 8 votes
    14y

    Rich; I am assuming that you live around St. George. I am not sure what I am doing yet. My wife has an internship to complete, probably in Vegas. If you familiar with the area, I live in Panaca Nv. it is about 100 miles northwest of you. We are in the process of figuring out how and where she is going complete her internship. That is how I started getting interested in RI. I was looking into purchasing a second home here in Vegas for a few years. Around the same time I attended a 3 day seminar from Rich Dad Education. I would be interested in meeting with you. I am willing to drive to you for a lunch or coffee. I am sure you have seen it before, a newbie with a mind going a 1000 different directions and not sure which direction to focus towards.

  • Jesse PollPro Member
    Real Estate Agent · St George, UT · Member since 2012 · 78 posts · 8 votes
    14y

    Rich;
    My degree is a Business Management Bachelors degree in Entrepreneurship.

  • FL · Member since 2009 · 2k+ posts · 357 votes
    14y

    Rich,
    Excellent post.
    I'll assume that it is making some people rethink what they are doing.

    Raymond

  • Los Angeles, CA · Member since 2008 · 557 posts · 70 votes
    14y

    Great post Rich. Thank you for the reminder!

  • Real Estate Investor · the villages, FL · Member since 2008 · 5k+ posts · 3k+ votes
    14y

    I'm glad so many are reading this thread and maybe taking a more introspective look into themselves.

    Jesse-your idea of getting together sounds like fun but it will have to wait a little while. Next week we start our Parade of homes here in St. George and I have one of the 28 entries. It will keep me fairly busy for the next nine days and then my wife and I are going to our Arizona home for the month of March. We will leave Arizona for the BP seminar March 21. Let's plan on chatting and getting together when we return in April.

    Entrepreneurship is a great field to be in! I have a grandson who had scholarship offers to pretty much anywhere and chose to go to University of Houston because they offered that and supposedly was the number one rated in the nation. I don't know if that's true, but that's what he tells me. He is doing excellent and will be very successful.

    Geoffrey-you are asking a very difficult question. I've posted in other locations here on BP but when my wife and I got married we had a strategy that we agreed to use. She would work for the first couple years of our marriage and we would live exclusively on her income. Everything that I made in real estate we would invest. We began with a dumpy two-bedroom apartment and an old Corvair automobile. I repeat, Corvair, not a Corvette! It worked out well for us but I realize it was different time and different location. I still didn't do very well on splitting my time up between family/business. I hope you will be able to do better. There is no rush when you are only 20 years old. Rich

  • Jesse PollPro Member
    Real Estate Agent · St George, UT · Member since 2012 · 78 posts · 8 votes
    14y

    Rich; That sounds good to me.

  • Real Estate Investor · Upper Marlboro, MD · Member since 2011 · 15 posts · 2 votes
    14y

    I love it. I needed to hear this.

  • Rental Property Investor · Manteno, IL · Member since 2009 · 2k+ posts · 2k+ votes
    14y

    Great post. Its the reason that "Its A Wonderful Life" has always been my favorite movie.

    There isn't a scene in any movie that can compare to when George comes home and the neighbors he's helped throughout the years coming in giving him money. Then they end it with the toast from his brother...... "to my big brother George, the richest man in town".

    Looks like Rich is the richest man in Utah - now that he's moved back home. Although I'm not sure George Bailed would be able to explain a Viper, Rich! :-)

  • Real Estate Investor · the villages, FL · Member since 2008 · 5k+ posts · 3k+ votes
    14y

    I can't explain the Viper either! It is for sale... Rich

  • Investor · San Ramon, CA · Member since 2011 · 1k+ posts · 569 votes
    14y
    Originally posted by Geoffrey Murphy:
    Rich, Awesome post! i had to reply...

    Here's my question for you and anyone else who wants to chime in.

    Im 20 years old rich and i have a son. However, im working 14 hrs days sometime mainly because i want to grow my business but also because i love it so so much. i enjoy.

    Now, i dont love this business enough to not be there for my son or even spend time for him. but my question to you guys is "How do i do both? buidl a business and raise a child/take care of a family? This business is used to provide a better life? rights guys? How do i do both??

    Can you guys please provide a young guy some direction, please!

    Geoff.. my suggestion is to make your kids part of the process. Brings the kids into your hobbies and business. Kids LOVE to help on "big person" stuff. Heck, my daughter has a blast just opening envelopes for me when I'm filing paperwork.

    What you'll find is it takes you 3 or 4 hrs to do things you could have done without them in 2 or 3... but would you rather spend 3 or 4 hrs with your kids and bonding... or 2 or 3 hrs without them? What you give up in efficiency you gain 10 fold back by spending time with your family. Kids want time and attention... too many adults focus on "quality" time (1 hr a week completely devoted to the kid)... I think many underestimate the need for "quantity" of it.

  • Member since 2011 · 1 post · 0 votes
    14y

    thx for sharing

  • Investor · San Diego, CA · Member since 2011 · 52 posts · 11 votes
    14y

    Excellent post Rich. Thanks for sharing.
    You definitely hit the spot! It reminds us to pause and take extra care of those that are, in essence, our reasons and motivations as to why we strive in this business.
    You're awesome!

  • Real Estate Investor · the villages, FL · Member since 2008 · 5k+ posts · 3k+ votes
    12y

    I really didn't realize people STILL read threads that are years old. Thanks for the votes that keep coming in-whatever they now mean, tic. Happy New Years to all. Rich

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