Real Estate Investing Basics

WHY do YOU Invest in Real Estate?

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reasons to invest in real estate

A couple of days ago, a fellow blog contributor named Shae Bynes posted a great blog post regarding a 7 day plan for aspiring real estate investors. You should definitely check it out when you get a chance.

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With that said, I really liked one of the key aspects she mentioned in her post which talks about developing your WHY. This past week I received a call from an investor who said that he wanted to work with me. He said he was tired of struggling and wanted to do something about it. So I asked him a simple question…

Why do you want to invest in real estate?
His reply was that he eats, breathes, and sleeps real estate and he wants to make money.

So then I said, “Ok, that sounds nice . . . but WHY do you want to invest in Real Estate?

After pausing for a brief second he finally understood what and where I was going with this question and gave me a new answer . . . an answer that can put a stop to all his struggling . . .

The Answer to the “Big Why”

So once he understood what I was asking, he replied, “Ohhhh, you want the BIG WHY”

Well the reason I want to invest in real estate is because I want to:

  • Achieve financial freedom
  • Be my own boss
  • Spend more time with my family and friends
  • Make money to take care of medical needs

There we go, now we’re getting somewhere. The thing is that its nice to make money, but ultimately you aren’t after the paper . . . you’re more so after what the paper can help you achieve. That’s the way the system is set up.

Then I asked him another question…

What is holding you back from achieving your BIG WHY?

He told me that some time he struggles with procrastination and over analyzing. Now this was something I could relate to. When you first get started in real estate investing, it is a new world. There are so many ways to invest in real estate and it can be hard to focus. You could spend so much time over analyzing and trying to reassure yourself that what you know is correct, that you could end up wasting precious time that could have been spent on actual investing.

I personally wasted 2 years over-analyzing everything I learned and within that time-frame I didn’t make a dime! On top of that, every time I “thought” that I was ready to move forward and do a deal, I was hit with Procrastination. I got lazy and said that I’ll get to it tomorrow. Then tomorrow turned into next week, and next week turned into next month, and so on.  It’s can be tough if you allow procrastination to overcome you.

To be honest, its not a matter of laziness, its more a matter of fear. Well, at least for me it was. I was afraid of messing up and I used procrastinating and over analyzing as an excuse to say that “I’m not ready yet.”

Anyway, enough about me . . . In order to overcome these obstacles, you need to have a strong WHY. Your WHY is what you’re putting at stake by not moving forward and achieving your goals. If your why is weak, then make it stronger!

To your success,

J. Lamar Ferren

“New Breed” Real Estate Investor

ps. Leave a comment below and let me know WHY you invest in real estate!

Photo Credit: virtualphotographystudio

    Nick
    Replied over 10 years ago
    Yes I agree with this blog post and I am also investing in real for the same reasons. The number one reason why I am investing in real estate is because I can’t stand bosses telling me what to do. I am an entrepreneur at heart and don’t need a boss telling me what to do.
    J. Lamar Ferren
    Replied over 10 years ago
    Preach Nick! lol
    Alex
    Replied over 10 years ago
    yes, that’s absolutely true , people trying to make their living without working for someone , people want freedom
    Liz Voss
    Replied over 10 years ago
    It’s not for the faint of heart, but by doing your homework in this market you can increase your net worth and generate a steady monthly income.
    Liz Voss
    Replied over 10 years ago
    It’s not for the faint of heart, but by doing your homework in this market you can increase your net worth and generate a steady monthly income.
    Liz Voss
    Replied over 10 years ago
    It’s not for the faint of heart, but by doing your homework in this market you can increase your net worth and generate a steady monthly income. Reply Report comment
    Dave Sharp
    Replied over 10 years ago
    The freedom that comes with being your own boss is priceless! Maybe MasterCard should do a new commercial!
    Chris Guthrie
    Replied over 10 years ago
    My #1 why is I want to succeed for my wife. She is a high school teacher, and the best darn teacher out there. She works horribly long hours and puts up with an administration that is even worse, but she loves the kids. I would love to become a successful real estate investor so that my wife will be able to teach because she WANTS to teach, not because to HAS teach. Her dream job would be to teach two periods a day at either a private or charter school. Following my biggest WHY are these: 1) To become my own boss 2) To make money work for me, and not work for money 3) To support my parents in the tragic event their retirement accounts take another dive like they did 8-10 months ago. 4) Real estate is a wonderful industry. It is so interesting and fun. I love learning something new each and every day. It sure beats computer programming. haha!
    J. Lamar Ferren
    Replied over 10 years ago
    Freedom is definitely on my WHY List! @ Chris- Those are some very strong WHYs and I hope that propel you to the next level! -JL