Also, we are nearing the holidays. I know a lot of people are probably starting to get swamped with last-minute or end-of-year deadlines, and it’s easy to slip into a busy frenzy finishing up all that. At the same time, your family starts to invade your house and life. But remember, it is the holidays! The holidays should be a time of joy, happiness, and fun! So hopefully this post will remind you of what you should be having this month, regardless of the chaos that may surround it\u2014fun!<\/p>\n
I have come up with eight things about real estate investing that I think are some of the most fun aspects of it. I don’t expect everyone to think everything in this list is fun, but there should be at least a couple of things that you would consider to be smile-inducing during your investing.<\/p>\n
In no particular order, here we go.<\/p>\n
8 Reasons Real Estate Investing Is Fun<\/h2>\n1. Making Money<\/h3>\n
This one is totally obvious. But I wanted to add it in here to remind everyone that while making money is great for financial security and other things, it is also just flat out fun to make money. I can\u2019t imagine anyone contesting me on this one!<\/p>\n
2. Creative Problem Solving<\/h3>\n
Unlike making money, problem solving may not top everyone\u2019s fun list. I get it. Problems in general aren\u2019t super fun, but if you have an interest in (or a knack for) creative problem solving, real estate investing will be fantastic for you.<\/p>\n
Not only are there a million different ways to be involved with real estate investing, but we weren\u2019t taught any of them in school. We are forced to figure so much out our own. This may sound like torture to some, but for others it can mean the world is at our fingertips! A lot of jobs don’t allow you to expand to your full potential when it comes to brain power or ability. Real estate investing is just the opposite. Because you aren\u2019t working for anyone but yourself (see below), you can expand as big and as wide as you want to with your brain power, creativity, and problem-solving.<\/p>\n
Problem solving in REI can come in two places. The first is getting started. The \u201cproblem\u201d there is figuring out not only what you want to do, or what strategy you want to try, but then figuring out how to do it. It\u2019s like being at the starting line. You are there, your shoes are laced up tight, and you\u2019re in your best running gear. Sure, you\u2019re all suited up, but then you have to figure out which way you want to go, and how you want to run the course.<\/p>\n
The second opportunity you\u2019ll have to work your problem-solving skills is once you are established. In whichever strategy you\u2019ve decided to focus on, once you\u2019ve started doing some deals, things will not always go as planned.<\/p>\n
Maybe it won’t be a particular challenge or problem you are hitting, but maybe it will behoove you to optimize what you are doing. How are you going to tackle the challenge or make what you\u2019re doing better? Creative problem solving. I have an engineering background, so creative problem solving for me is like cake to a toddler. But like I said, not everyone craves creative problem solving, or even problem solving in general, so don\u2019t stress too much if this one doesn\u2019t make your list.<\/p>\n
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Related:<\/strong> Am I Missing Something, Or Is Real Estate Investing Really Not That Hard?<\/a><\/em><\/p>\n Maybe you\u2019re more of the shopping type than the problem-solving type. I\u2019m actually not usually the type to enjoy shopping myself, but I have always loved shopping for properties! Even if I\u2019m not the one buying and I\u2019m just showing properties to other investors, I absolutely love checking out houses and going through them. But when I am the buyer, it is especially fun to truck through random houses. I may truck through them in person or on the computer, but picking out which one I want is great fun if you ask me!<\/p>\n It\u2019s exciting. I admit, I get doubly excited if the property I\u2019m picking is cute.<\/em>\u00a0The thought of adding it to my portfolio and earning returns on it is super fun for me. I can\u2019t say I have an emotional attachment to all of the properties I\u2019ve bought, but I felt fantastic every time I picked one of them out. Even when I think of each one now, it makes me smile a little.<\/p>\n I think shopping should be one of the most fun parts of the whole process. You\u2019ve educated yourself, you\u2019ve researched, you know what you\u2019re looking for, and you\u2019ve really done a lot of the grunt work in preparation. Now you get to go shopping. Some markets may have more options than others, so you may get to be pickier about what you buy in those markets. Either way, the property searches and shopping should be a blast! (Unless you\u2019re shopping for your 47th<\/sup> property because your first 46 offers got turned down\u2026 then you may not be having as much fun.)<\/p>\n This may also not be for everybody, but being a real estate investor is the absolute most swanky opportunity to be your own boss. You actually kind of have to be your own boss as a real estate investor. Maybe you\u2019re your own boss in your real-life career already. Maybe you aren\u2019t and you\u2019ve always wanted to be in charge. Now\u2019s your chance!<\/p>\n There are very few positions in real estate investing where you don’t have full dominion over your own fate. Being your own boss means you get to maximize your own creativity and ideas as much or as little as you want. You can set your own hours. You can decide what you do and don\u2019t do.<\/p>\n If things go haywire, you aren\u2019t at risk for getting reprimanded! Well, if you\u2019re like me, maybe you reprimand yourself, but you definitely don\u2019t have to worry about getting fired. The only way you will get kicked out of real estate investing is if you kick yourself out.<\/p>\n I know for me, being my own boss is 1,000 times more fun than answering to someone else. It can certainly be stressful, but in my experience, the stress is worth every bit of the freedom. The REI world is your playground, and you get to play with any piece of it you want. Boom. Now that<\/em> is fun.<\/p>\n It may be a bit of a stretch to put this one into the “fun” category, but having control does have its merits. And maybe somewhat sadistically, it can be a bit fun too. Just kidding. While control can have a lot of negative connotations, it can be good to have control over things. Note that I didn\u2019t say \u201cover-control.\u201d I just said control. Over-controlling anything never does anyone any good. But in something like investing, it can go a really long way to have control over what you do (unlike stocks, where you just put your money in and then you have no choice but to ride the wave of whatever happens)!<\/p>\n It\u2019s like when I invested in silver years ago at a price I thought was incredibly advantageous, only to ride the wave while the value of silver plummeted to record lows. Whoops. But I had no control over that. With my rental properties, however, I\u2019ve had a ton of control. I\u2019ve had control over who lives in them. I\u2019ve had control over who manages them. I\u2019ve had control over the financing and even the returns in a lot of ways. I control what I do with them. In that light, control is incredibly fun!<\/p>\n3. Shopping<\/h3>\n
4. Being Your Own Boss<\/h3>\n
5. Control<\/h3>\n
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