What made you choose REI, and what kept you going?

What made you choose REI, and what kept you going?

Private Money Lender · OK · Member since 2010 · 163 posts · 32 votes

I thought it might be interesting to see what made many here decide they wanted to be Real Estate investors in life. I also thought it might be interesting to know how long they took to get up and decide to do their first deals, and what made them keep on trucking during those hard times in the beginning. What were the major motivations that made you put your heart into it?

For me, initially I just wanted to create something that moved. What I mean is that it did not have to necessarily be real estate, but any company that could run itself without me. I guess I have loved business for a very long time. When I saw "Bugsy" it reminded me of me to the T. No, not the gangster aspect of it. but Ben Siegel's ideal for wanting to create the casino. As Meyer Lansky stated during the movie, "It's not about the money. Everyone here knows that Ben's never respected money. It's about an idea. Something that he created." That's how I have always felt. Sure the money could be nice, but I live more for the challenge of creating a living breathing entity that can survive on it's own, something I created. Like Frankenstein. I love the challenge of having to use my mind to be creative and strategic, of having to think outside of the box. I love how I will always have to be aware of whats going on around me, not only competition wise, but economically and environmentally as well. Like a game of chess or poker, you always have to think 5 hands ahead.

Real estate seems the best vehicle to make this opportunity possible. With real estate you can come in at any point and bevirtually equal with your competition. Your customer's (motivated sellers) do not know brand names in this industry because it is not one they shop usually more then once in a lifetime. With this your success is equaled to your creativity and motivation. How bad do you want it. You could literally surpass seasoned investors who have been in the game for a long time by sheer creativity in marketing. This is usually not possible in retail businesses because the majority shop the brand names. Plus, the thought of acquiring beautiful properties in diverse places is a reward in itself.

What has motivated me (in the little time, but really a long time if you count all business ventures)? The fact that no one thinks I'm capable of doing much more then anything in life. The fact that I am not happy in a job environment where I am not allowed creativity and thinking outside of the box, and my intelligence is limited to what "they" say I am to do. Mostly, I want to create the "idea", just like Bugsy did. He lost his life behind it because he wanted it that much. I can respect that because he felt like he wasn't truly living if he wasnt living for his dreams and what he believed in.

Anybody else?

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  • Real Estate Investor · OH · Member since 2008 · 4k+ posts · 1k+ votes
    16y

    I chose real estate because I wanted to build wealth for retirement as well as have a nice monthly income. I keep going to maintain my lifestyle of being semi-retired.

  • Investor, Entrepreneur, Educator · Springfield, MO · Member since 2009 · 21k+ posts · 12k+ votes
    16y

    Hi, it began as a way to supplement my military income. It became a hobby and then a vocation. Investing then became a benefit of my financial business and professional endevor itself. It was always just plain interesting and fun!

    I really have felt sorry for others who have had to work at something that they really dreaded. I just can't understand doing something that you hate to do. While I have done many things, I have always enjoyed real estate the best, well, I guess it is the money too! LOL

  • Real Estate Investor · louisville, KY · Member since 2010 · 20 posts · 0 votes
    16y

    Up here in maine jobs in small towns are scarce. I've always wanted to own my own business, and being unemployed is a great motivator.

  • Real Estate Investor · Austin, TX · Member since 2009 · 118 posts · 76 votes
    16y

    I had an MBA, was a VP of a medical diagnostic company, and couldn't find a job. I'd made a bad decision on buying a house and realized after buying where I went wrong. I then thought that if I knew what I was doing, I'd probably be able to make some money at it. So the leap to REI made good sense.

  • Landlord · Seattle, WA · Member since 2010 · 3k+ posts · 1k+ votes
    16y

    I've been in real estate in one form or another most of my life. I got into REI though after I remarried though when my wife had 3 rental properties. I have been building on those for more about 15 years.

    I stick with RE because it does appreciate and produces a good cash flow. I could easily retire on what we have now, but choose not to because I have fun playing with real estate.

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