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
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.
Rental Property Investor · NC · Member since 2018 · 776 posts · 776 votes
7y
To get out of the Army and start the next chapter of my life. I am using the income to supplement my W-2. Currently, I am two years from getting out and starting my business.
Investor · Los Angeles, CA · Member since 2017 · 523 posts · 476 votes
7y
What a great question! A few reasons:
1. I was interested in real estate since I was a kid. Just, the idea that it was at the core of much in our society. My mom still tells the story of when my elementary school class was taken to the supermarket for a field trip (why we went there, who knows), and I was what the square footage was, LOL. I loved going to hardware stores with dad, and watching the contractors who remodeled my house. For me, it's just a fun field to be part of.
2. I finished law school in 2010, during a very bad time economically. I had trouble finding a job, despite going to a top 20 law school. I also saw that at big corporate law firms, you were in a rat race, often not treated well, someone else controlled your life, and so on. I hated that. I wanted to control my own life.
3. I saw the success people I knew personally enjoyed in real estate. Specifically, a friend of the family who is a very successful investor in LA, and the father of a close friend from school, who was similar. These guys not only had more money than anyone I knew, but also seemed happy and in control of their lives. That seemed like something to aspire to.
4. I love people. Real estate is a people's business. I enjoy talking to other investors, brokers, and learning from others (and sharing what I know). This always excited me.
My reason (My WHY) was simply time freedom. I had that corporate job where I was handcuffed working the long hours. Although I made good money and had all the perks the corp. world had to offer, working 60-70 hours a week was for the birds!! I wanted my time back! I wanted my time to spend with family and create memorable experiences. I did not want to be that person that finally got to travel after 65 when I retired.
In 2005 I made the leap and started my journey in REI full time. Have never looked back since. I have gone thru some crazy fun peaks and some very humbling valleys, however, would not trade it for the world due to the many places I have visited, the memories I have created with my family and friends and the liberty to just do what I want.
I always tell newbies that this business is simple. Simple in that you know what needs to be done and the mechanics involved due to all the education out there at your fingertips. Simple but not easy. This business is not easy because you do have to get to WORK. If you're willing to work then the rewards are amazing.
Murfreesboro, TN · Member since 2019 · 63 posts · 26 votes
7y
I got into REI to get out of the 9-5. Working in healthcare (surgery) has been not good for my health, and it has caused me to not have time with my child as I would like. Another reason is I want my business of REI to pass down to my son that way he can grow his wealth and not have as much worries about money.
Also, I been without a home before, trying to find a way to feed my child, and trying to figure out what to do about gas when you have no funds to put into your tank....I can name so much more. In REI there is financial freedom, you have businesses to pass down to your family, if you have goals for yourself and you see yourself living a different life than those around you REI is the way to do that.
Lastly, when you're busting your butt working a corporate job, getting what they feel as acceptable pay, but the ones who do very little get treated so much better....I'm over that. If I'm going hard it's going to be for myself and I and my son reap the benefit.
Specialist · Orlando, FL · Member since 2019 · 1 post · 3 votes
7y
To stop working for a boss!
It took me a very long time to figure out what my niche was in life. I was a military dropout, college drop out, I failed my Real Estate license exam 5 times. Nothing was working for me and every day I feel like a failure.
One thing I knew I was good at was being able to listen to people, not necessarily “talking”. As a agent I was chafing percentages rather than chasing the rapport and the root of the buyer/seller’s situation.
After listening to podcasts daily about side hustles and how to make extra money, I came across Real Estate Investing where Im able to branch off in the real estate business on my own.
I incorporate my passion for litigation in real estate and that’s why I am where I am now! I enjoy assisting with contracts, I enjoy assisting my clients with creating wills, and I really being a local notary in my neighborhood! My true passion is helping people and that’s what I have found in real estate investing! 🤗😎🙏🏾
Rental Property Investor · Mesa, AZ · Member since 2019 · 10 posts · 5 votes
7y
After I got off active duty I decided to follow my passion, boxing.
I coached fighters from the amateur to the elite level. Traveled the U.S. bringing kids to tournaments, working corners for local professionals, and training alongside athletes I grew up watching on TV and idolizing.
Having done everything in my sport short of owning a world title, truth is, fighters don’t have money to pay coaches. Professionals go broke. Amateurs don’t stick around. Gym owners often live in the cleaning closet, that is if the gym hasn’t closed down altogether. And I was sick of not knowing whether I was going to make between $500 or $2500 that month.
I’ve got a Ph.D in boxing, but the world won’t know my level of ability till my life gets a little mobility first.
Rental Property Investor · Mesa, AZ · Member since 2019 · 10 posts · 5 votes
7y
After I got off active duty I decided to follow my passion, boxing.
I coached fighters from the amateur to the elite level. Traveled the U.S. bringing kids to tournaments, working corners for local professionals, and training alongside athletes I grew up watching on TV and idolizing.
Having done everything in my sport short of owning a world title, truth is, fighters don’t have money to pay coaches. Professionals go broke. Amateurs don’t stick around. Gym owners often live in the cleaning closet, that is if the gym hasn’t closed down altogether. And I was sick of not knowing whether I was going to make between $500 or $2500 that month.
I’ve got a Ph.D in boxing, but the world won’t know my level of ability till my life gets a little mobility first.
Rental Property Investor · New Castle, DE · Member since 2016 · 376 posts · 158 votes
7y
My ultimate why is to break the generational financial mis-management that my family seems to succumb to. My parents weren't the best with finances and I don't want that for my children. I've made a lot of mistakes in life and I hope they take heed to the lessons I've learned. I also want to have financial freedom and aspire to retire in the next 10 - 15 years, but the sooner the better!
It took me a very long time to figure out what my niche was in life. I was a military dropout, college drop out, I failed my Real Estate license exam 5 times. Nothing was working for me and every day I feel like a failure.
One thing I knew I was good at was being able to listen to people, not necessarily “talking”. As a agent I was chafing percentages rather than chasing the rapport and the root of the buyer/seller’s situation.
After listening to podcasts daily about side hustles and how to make extra money, I came across Real Estate Investing where Im able to branch off in the real estate business on my own.
I incorporate my passion for litigation in real estate and that’s why I am where I am now! I enjoy assisting with contracts, I enjoy assisting my clients with creating wills, and I really being a local notary in my neighborhood! My true passion is helping people and that’s what I have found in real estate investing! 🤗😎🙏🏾
@Nicholas Munford
God had another way to get you to your dreams. Congratulations!!!
After I got off active duty I decided to follow my passion, boxing.
I coached fighters from the amateur to the elite level. Traveled the U.S. bringing kids to tournaments, working corners for local professionals, and training alongside athletes I grew up watching on TV and idolizing.
Having done everything in my sport short of owning a world title, truth is, fighters don’t have money to pay coaches. Professionals go broke. Amateurs don’t stick around. Gym owners often live in the cleaning closet, that is if the gym hasn’t closed down altogether. And I was sick of not knowing whether I was going to make between $500 or $2500 that month.
I’ve got a Ph.D in boxing, but the world won’t know my level of ability till my life gets a little mobility first.
👍
Haha I feel you. I was on my way to the Olympics for boxing. I won tournaments & was really reaching my peak in terms of physical ability and mental confidence when all of a sudden one day, I slipped in Ice while working at the Post Office carrying packages & that was the end of my boxing career. But I held onto my faith & used that fire inside of me towards business and education.
Contractor · Denver, CO · Member since 2018 · 7 posts · 3 votes
7y
My 'why' is to serve. I love volunteering to help individuals and organizations but that's sometimes hard to do with the 9-5 job. REI will help me accomplish this goal before I'm too old to help.
We are born from earth, we live on earth, why not own a piece of earth?
I love that quote. That's very deep and true.
Thank you. I came up with it recently contemplating on how our life here on earth is very short but God made us to live on earth so might as well invest & own some of it while I'm here.
We are born from earth, we live on earth, why not own a piece of earth?
I love that quote. That's very deep and true.
Thank you. I came up with it recently contemplating on how our life here on earth is very short but God made us to live on earth so might as well invest & own some of it while I'm here.
Your so right!!! I had friends that passed away in their 20s. God doesn't want us to be mediocre. Why not have the best and be fulfilled while we are here.
Rental Property Investor · Denver, CO · Member since 2018 · 36 posts · 12 votes
7y
While I have owned (a) rental property for almost 9 years, I never really knew what I could get out of REI until the past year or so. I have since moved heavily towards investing more and working on growing my portfolio so that I can eventually be free from a 9-5 job. While I have been successful in that area, I have grown tired of the "rat race" and would much rather have my own businesses supplemented by my investments.
We are born from earth, we live on earth, why not own a piece of earth?
I love that quote. That's very deep and true.
Thank you. I came up with it recently contemplating on how our life here on earth is very short but God made us to live on earth so might as well invest & own some of it while I'm here.
Your so right!!! I had friends that passed away in their 20s. God doesn't want us to be mediocre. Why not have the best and be fulfilled while we are here.
I'm so sorry to hear that. The last prophet to walk the earth, prophet Muhammad (Peace be upon him) who came as a guide to mankind said, "There are two extremes, one to the right one to the left, always stay in between them." Meaning that if we want to be successful in this life & the next, we should always take the middle approach. I would co-relate it to Real Estate by saying that we should not get so indulged in pursuing the riches of this world that we get extremely attached to this life & forget that our time here is only brief. Yet, we should work hard & do our best to be successful & help those who are still struggling & need help.
We are born from earth, we live on earth, why not own a piece of earth?
I love that quote. That's very deep and true.
Thank you. I came up with it recently contemplating on how our life here on earth is very short but God made us to live on earth so might as well invest & own some of it while I'm here.
Your so right!!! I had friends that passed away in their 20s. God doesn't want us to be mediocre. Why not have the best and be fulfilled while we are here.
I'm so sorry to hear that. The last prophet to walk the earth, prophet Muhammad (Peace be upon him) who came as a guide to mankind said, "There are two extremes, one to the right one to the left, always stay in between them." Meaning that if we want to be successful in this life & the next, we should always take the middle approach. I would co-relate it to Real Estate by saying that we should not get so indulged in pursuing the riches of this world that we get extremely attached to this life & forget that our time here is only brief. Yet, we should work hard & do our best to be successful & help those who are still struggling & need help.
I started investing because I knew it was a proven way to build wealth BUT things really took off when my son was born. Not sure if any other fathers have experienced this, but when I held my son for the first time, I instantly had a need to do better and be better for him. That's what fuels me. It's powerful.
Handyman · Pittsburgh, PA · Member since 2018 · 5k+ posts · 13k+ votes
7y
One of the big reasons was watching the collapse of Greece from here in the USA. The full meaning of what "financially vulnerable" meant really came to me after that.
Pearl City, HI · Member since 2016 · 15 posts · 21 votes
7y
I’m about to get REAL:
After I got out of the military I became a stay at home mom. Completely dependent on my husband at the time. He got physical with me and I left with my 2 babies with no money and no where to go. I had to put on my big girl panties on and figure it out. I will never allow myself to be in that position again. I want to make the money. I want to call the shots. I want to provide everything for my kids and never be so dependent on anyone else ever again. I want my kids to know that I got us.