Why Did You Get Into REI?

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Why Did You Get Into REI?

Nicholas Munford
Real Estate Agent · Tampa Florida · Member since 2019 · 23 posts · 34 votes

When you decided to get into REI what was your why (your drive) to get into the business and succeed?

Personally, my why is to past my knowledge on to others, specifically, those less fortunate and unsure of where they will go in life. I want to be able to give young adults the prospect of another path that they can go on as adults.

If you're just staring out, if you're a seasoned veteran or if you've lost sight of your why and need a refresher. Discuss what your why is because it will encourage me and hopefully others too <3

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Alexander FelicePro Member
Guy with Great Hair · Austin, TX · Member since 2013 · 2k+ posts · 4k+ votes
7y

I was broke, working a job I hated, with a tyrant of a boss, had few life skills, a bunch of debt, and no end in sight. 

Then I realized real estate (when purchased at a discount) can create equity, be rented for high cash flow, and comes with good tax deductions. I run the portfolio passively and it's simple enough for an idiot like me to retire off of in just a few years. 

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  • JD MartinBusiness Member
    Moderator
    Rock Star Extraordinaire · Northeast, TN · Member since 2015 · 10k+ posts · 16k+ votes
    7y

    Supplement my retirement pension and do something with a lump of cash sitting around. And leverage years of experience and mistakes into something that I can actually affect the ROI.

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    7Reply
  • Brian Ellis
    Rental Property Investor · South shore, MA · Member since 2017 · 1k+ posts · 1k+ votes
    7y

    Ive always been creative, and wanted to do something on my own. REI has so many different avenues, thats what is so fascinating about it. You dont have to follow this strict guideline like you do at your W2. You get to make decisions for yourself, and benefit along the way.

    11Reply
  • John Delosreyes
    Rental Property Investor · Oklahoma City, OK · Member since 2016 · 34 posts · 33 votes
    7y

    I want to establish another stream of income while I still have the security of a steady job (active duty military).  My goal is to reach a point where I can devote my time to family and friends than to a job and have my investments pay for my lifestyle.

    9Reply
  • Alexander FelicePro Member
    Guy with Great Hair · Austin, TX · Member since 2013 · 2k+ posts · 4k+ votes
    7y

    I was broke, working a job I hated, with a tyrant of a boss, had few life skills, a bunch of debt, and no end in sight. 

    Then I realized real estate (when purchased at a discount) can create equity, be rented for high cash flow, and comes with good tax deductions. I run the portfolio passively and it's simple enough for an idiot like me to retire off of in just a few years. 

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    26Reply
  • Tyler Mullen
    Investor · Kirkland, WA · Member since 2017 · 310 posts · 271 votes
    7y

    When I finally went "all in" on REI it was during a perfect storm of events & stresses, so it started with the emotional and ended with the practical:

    - I was disillusioned and frankly heartbroken by events at a prior employer so I didn't think I could work for someone else ever again.

    - I wanted to keep the yield of my labor/ideas, take control of my future, live through my efforts and rise or fall on my own merits.

    - REI was the only thing I could start doing right away, which I was also already somewhat familiar and could also provide enough income and growth to secure a financial future.

    5Reply
  • Jill DeWitPro Member
    Investor · Scottsdale AZ · Member since 2015 · 1k+ posts · 423 votes
    7y

    I grew up in Southern California and watched others make big bucks in real estate. (I got to ride in Don Koll's helicopter as a kid with my dad.)

    My first full time job was for a small development company. I loved it & knew this was a way I could be my own boss. And the way we run our company, I can do this from anywhere - including the back of a boat. 

    5Reply
  • Frank Wong
    Real Estate Broker · Bay Area · Member since 2018 · 1k+ posts · 3k+ votes
    7y

    I didn't have anything growing up and I saw how hard my parents worked. It would be disrespectful of me to become a loser and do nothing with my life.  So I decided at a young age to make it happen for myself and for my parents.  That was my drive. 

    Going into real estate was a perfect situation for me.  I love helping people, I love real estate, and I love being my own boss.  

    21Reply
  • Matt Millard
    Lewisville, TX · Member since 2015 · 341 posts · 264 votes
    7y

    I wanted to be my own boss, learn new skills & help others utilize their talents in syndications.

    3Reply
  • Caleb Heimsoth
    Rental Property Investor · Durham, NC · Member since 2016 · 7k+ posts · 7k+ votes
    7y

    @Nicholas Munford. Be an entrepreneur while still having a full time job. I’d like to retire early if I want which for me would probably be in my 40s. I just enjoy it. Finding, analyzing and executing deals is a lot of fun

    5Reply
  • Shelby Van Horn
    Member since 2019 · 17 posts · 12 votes
    7y

    I love conversations like these & anything that has to do with my "why".  I've been very broke to the point of near homelessness, and I've had a good chunk of change in the bank.  I know which one I like better, and that is my why.  I know I will never be happy working 40 hours a week behind a desk to propel someone else's dream while neglecting mine, and that is part of my why.  My boyfriend will be attending medical school soon, and I was to be able to help support his why so he can focus on that instead of how we will pay the bills.  The family I want to create is part of my why.  The people I want to help in life is part of my why.  Thank you for making this thread!!

    8Reply
  • Matt Leber
    Rental Property Investor · Orlando, FL · Member since 2015 · 353 posts · 269 votes
    7y

    @Nicholas Munford I enjoy looking for deals, seeing properties, and owning something tangible. I had a hunch that I liked it from my days in college when I realized my landlord had a pretty cool gig going. He was not tied down to a 40 hour desk job, had 20+ houses in a college town, and his job was to manage them. I liked that idea. When I realized how impactful real estate could be toward creating more time (through passive income) for my future family (and maybe an early retirement), I was hooked.

    4Reply
  • Mark Fries
    Contractor · Jacksonville, FL · Member since 2017 · 1k+ posts · 2k+ votes
    7y

    @Frank Wong

    What a truly amazing and incredible answer!

    Frank, You are right on target with most all of your responses and posts. If I ever did some kind of business in San Francisco you would be the guy I would partner up with.

    5Reply
  • Holly Williams
    Rental Property Investor · New York City · Member since 2014 · 208 posts · 271 votes
    7y

    I bought a couple of houses over the years and an apartment in Manhattan to live in.  Then I watched my parents have to withdraw money from their stock investments to live on...in 2009-2011 when EVERYTHING was down.  My Dad died about a year from broke.  (While my few rentals still cash-flowed.)  At the same time I discovered passive multifamily investing.  After moving money from the stock market over a period of 4 years or so, my passive income was enough to leave my job.  I'm so grateful for the opportunity that real estate has given me, so I shout it from the rooftops.

    10Reply
  • John Bannister
    Member since 2019 · 7 posts · 10 votes
    7y

    @Nicholas Munford

    Because everyone thinks oil and gas is this mythical business where they drop piles of money on your desk everyday for the rest of your life. The reality is that it is a cyclical beast, and the next cycle may be the one where you are out on the street with no jobs available. I picked real estate because it is steady / tangible and not subject to the collective freak outs we see in the stock market.

    2Reply
  • Michael Glaspie
    Real Estate Consultant · Fayetteville, NC · Member since 2017 · 151 posts · 144 votes
    7y

    Being in a high-stress line of work with NO CONTROL of my assignment, or location in which I had to live in lead me down a path where I was NOT happy. I was always searching for a way to create more money. I was poorly educated in finances so I thought more money was the solution. Once I realized that passive income was the answer to being financially independent and the difference between the wealthy and the rich, I found real estate. Ever since then I have been pushing to make the most of this line of work and educate others in the process. 

    6Reply
  • Joe Sadusky
    Rental Property Investor · Levittown, PA · Member since 2016 · 109 posts · 97 votes
    7y

    To get out of the rat race!

    I want to be in better control of my financial future, not held back by my 9-5 restrictions. 

    Me and my wife want to be able to make our own schedules, go where we want- when we want, and have the ability to spend as much time as possible with our new baby girl. 

    Family is everything to me. I want to be able to provide for everyone in my life that I love.  Its a shame to see people in  your own family that have to work 3 jobs, just to be able to support their family.   Through my real estate investing, I want to get those I care about involved as well.  

    Real Estate is something that I am truly passionate about. I love finding deals, talking about it, and sharing my experiences with the intentions of hopefully inspiring someone else to take the plunge. 

    7Reply
  • TC Greenwood
    Member since 2019 · 20 posts · 14 votes
    7y

    REI offered freedom in all areas of my life. I had far more control over my time, I could uncap my income and I could change my family by freeing us from a W2 mindset. W2 jobs are great don't get me wrong, but I wanted my family to be free to make a decision to work at one not think it was their only option,

    2Reply
  • Leslie Awasom
    Investor · Hanover, MD · Member since 2017 · 10 posts · 15 votes
    7y

    I want to regain control of my time. Once I finally figured out time was our most valuable asset I realized I had been giving away my most valuable asset for cheap. REI will give me the opportunity to be there for all my kid's activities. And be the mentor I long to be for them as they grow up.

    5Reply
  • Michael Trinsey
    Investor · Clermont, FL · Member since 2018 · 26 posts · 17 votes
    7y

    I was getting close to retirement with only modest savings and I listened to Rich Dad Poor Dad. Every part of my body shook for joy. There—was a better way to live life. 

    I'm just at the beginning of my investment career. I believe it's never to late to DO something. I purchased my first investment property, so I feel great!!

    AND who hasn't been inspired by that book.

    8Reply
  • Charles Connolley
    Member since 2018 · 19 posts · 14 votes
    7y
    Originally posted by @Michael Trinsey:

    I was getting close to retirement with only modest savings and I listened to Rich Dad Poor Dad. Every part of my body shook for joy. There—was a better way to live life. 

    I'm just at the beginning of my investment career. I believe it's never to late to DO something. I purchased my first investment property, so I feel great!!

    AND who hasn't been inspired by that book.

    For sure Michael. I was lucky enough that I read it in my 20's and I haven't had a real boss, except my wife and kids;), since I was 33. I know exactly where the money I produce from my work is going! I'm 46 and closing on a 7 unit tomorrow which will make 50 total, and I have a self-service car wash 10 minutes from my house under contract.

    5Reply
  • Frank Wong
    Real Estate Broker · Bay Area · Member since 2018 · 1k+ posts · 3k+ votes
    7y
    Originally posted by @Mark Fries:

    @Frank Wong

    What a truly amazing and incredible answer!

    Frank, You are right on target with most all of your responses and posts. If I ever did some kind of business in San Francisco you would be the guy I would partner up with.

     Thanks Mark!  I just try to be myself and speak with no filter.  In an unauthentic world, I believe people need a direct response with no fluff.

    3Reply
  • Mindy JensenPro Member
    BiggerPockets Money Podcast Host · Longmont, CO · Member since 2014 · 7k+ posts · 10k+ votes
    7y
    Originally posted by @Alexander Felice:

    I was broke... 

    Broke is a Choice, Alex... 

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    5Reply
  • Andrew Coleman
    Investor · Washington D.C. · Member since 2010 · 48 posts · 21 votes
    7y

    To build wealth and pass it to future generations! 

    5Reply
  • Darius Kellar
    Real Estate Coach · Member since 2018 · 245 posts · 216 votes
    7y

    @Nicholas Munford

    My why is to get out of working as an employee while maintaining the current lifestyle I have. Working in the corporate environment while facing discrimination was more than enough reason to pursue real estate. 

    3Reply
  • Alexander FelicePro Member
    Guy with Great Hair · Austin, TX · Member since 2013 · 2k+ posts · 4k+ votes
    7y
    Originally posted by @Mindy Jensen:
    Originally posted by @Alexander Felice:

    I was broke... 

    Broke is a Choice, Alex... 

    correct, that's why I was able to turn around my disaster of a life so easily ;) 

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    5Reply
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