There’s a lot of misinformation in the real estate education industry.

Not about how to invest in real estate, but about the purpose of investing in real estate...

The lifestyle you can expect to receive, depending upon the type of efforts you put in.

Allow me to explain…

The term financial freedom is tossed around by every single real estate educator.

Many of them post pictures of Lamborghinis and big houses with a caption like:

“Real estate investing is the best way to get FINANCIAL FREEDOM!”.

The problem is, “Financial Freedom” is a vague term, and hardly anyone ever takes the time to define what that means.

Does financial freedom mean a bank account with a lot of money in it?

Big checks coming in?

The ability to buy things “freely”?

Not having to worry about money?

The other question is:

What does someone have to DO in order to get that freedom?

What’s the trade-off?

Also, is there a stopping point, or a point at which you can step out?

In other words, do you have to do things you don’t like for a while, but then you don’t have to do them once you get “financial freedom”….

OR do you have to keep doing them to maintain “financial freedom”?

But, there’s another part of that statement that’s even more unclear:

“Real estate investing”

Real estate investing can mean a LOT of things:

• buy and hold
• fix and flip
• wholesaling
• buying notes
• buying tax liens
• and more.

There’s also a residential and a commercial path to several of those.

It's safe to say:

The waters are definitely murky when someone first gets into real estate investing.

So here we have two vague terms, which on the surface the industry defines as something like this:

Real Estate Investing - Doing one or more of many different forms of investing related to or involving real property.

Financial Freedom - Not having to worry about money, being rich.

So when someone says “Real Estate Investing will give you Financial Freedom” as their headline, do you see why there’s a problem with that?

Using our new definitions, it would look something like this:

“Doing one or more of many different forms of investing related to or involving real property will make you rich and you probably won’t have to worry about money.”

Can you see how vague and cryptic that is?

Do you see why so many people are confused when they first start learning about real estate (and often stay that way forever)?

Like me, a ton of people get into real estate because they read the book “Rich Dad, Poor Dad” by Robert Kiyosaki.

They learn about passive income and say “Hell yeah, I want some of that, who wouldn’t?

"I’m sick of working for a paycheck. I’d love some mailbox money to come to me every month."

Real estate seems to be the main way people are doing that.

"I’m going to check out a local investors meeting. I want to do this!”

So, when they first start out, their primary goal is to get passive income. They want it because they are tired of working for money, doing something they’d rather NOT do.

They want to spend more time with family, friends, travel, pursue passions, exercise, and more.

So, it’s fair to say that for most people, when you really dig in and ask them, their definition of “financial freedom” is having passive income coming in, WITHOUT WORKING, so that they can do all of the above things.

That’s good, we’ve narrowed down what most people, and probably you, really want.

So if your bills are 40K/year, you want 40K coming in every year, without working. You want those checks to just hit your mailbox.

See, now we’re getting much more specific, and that’s great. It helps trim away the fat in a big way.

We went from wanting “financial freedom” to wanting $40,000 per year, or even better, $3,333 per month. THAT is the target.

It might not seem important to know that right now, but the opposite is true.

It couldn’t be more important.

Knowing the exact outcome you aspire to get from your endeavors is critically important, because it informs all of your actions.

The outcome tells you what to do, each and every day.

So if passive income and freedom are the specific outcome you want from real estate investing, then it would make sense to focus on the activities that provide passive income, right?

It would. But, for whatever reason, this one juncture is where so many people go terribly wrong.

I started out wholesaling and flipping myself. I did it for many years.

I had a lot of "success" as most would define it within those niches, doing over 100 deals per year for about 4 years running

But, my lifestyle was NOT what I hoped for.

Being tied to a desk and managing a team was not my ideal outcome.

It wasn't until I switched to building truly passive income that I was actually able to get the freedom I was after.

The biggest reason people gravitate towards real estate strategies like wholesaling and flipping is because they seem easier, less committal, and like a good way to get their feet wet in the industry.

Another big reason is that they don’t have a lot of liquid cash to actually purchase the houses, and they falsely believe they need it to make a purchase.

Another BIG reason people don’t want to actually own something is because they’re scared they will buy a bad house.

They aren’t well versed on exactly how to tell a good deal from a bad one, so they gravitate towards strategies that don’t end with them owning the property.

I know this because I was that person, and I clung to those excuses, for many years.

Instead of digging in and doing the hard work to find answers to these vague objections people have, like

“I don’t have the money” or

“I don’t know how to analyze a deal”

People instead spend months and often years doing real estate strategies that only generate checks for themselves....

Not passive income....

And NOT their ideal lifestyle.

They engage in “active income” businesses, that are transactional. This means that for every time they make money a transaction has to take place.

I think this is really unfortunate because it’s derailing a lot of would-be investors from achieving their ideal outcome.

They get a taste of what they think real estate investing is, don't like it, and they quit.

You absolutely must start with lifestyle.

What would an ideal day look like for you if money was no object?

What does that ideal day cost to live (per month)?

How many properties do you need to buy (and hold) to hit that passive income goal?

That's it, folks.

Did you know that the average American can actually pay ALL of their bills with the income from about 12 rental properties?

I hope this post helps some of you to shorten your journey to financial freedom.

I did the wrong stuff for a good 6 or 7 years and I don't want you to have to do the same :)

To your freedom!

Brian

First off, great post @Brian Ellwood ! A lot of good points, but I think this is very true for a lot of new investors and folks I've spoken to looking to get into RE. I always try to lead them to what they are seeking and why. To go a step beyond and ask exactly what it is their desired "lifestyle" is will definitely be good advice. 

I actually never really knew about all the dozens of niches within real estate while growing up, I just knew you could buy and rent or flip. My mindset when looking to make my first purchase was always to quit my day job, whatever got me to that goal the fastest is what I was pushing for. That's how I landed to buying a property, collecting cash flow, trying to make the operations as streamlined as possible, and gaining more units. Early in my investing, on my very second property, I had the opportunity to "flip" my deal within a few hours and make nearly 20% return on an off market deal where a previously interested buyer had offered in cash (essentially wholesale). I decided against selling it, literally within hours of closing, simply because I was set on the cash flow that it would generate for me versus the transnational gain as you had mentioned. Eventually RE allowed me to get to the "lifestyle" that I had wanted: quitting my job, chilling on a beach internationally while barely working a few hours a month. Until I realized how overrated it was and how badly I wanted to be back on the grind and work on new challenges, retirement wasn't my desired lifestyle anymore. 

In my second phase of RE investing now, that "lifestyle" goal has changed to being a more active investor, and I presume it will change again in the future as my desired lifestyle changes. 

Originally posted by @Ujwal Velagapudi :

First off, great post @Brian Ellwood! A lot of good points, but I think this is very true for a lot of new investors and folks I've spoken to looking to get into RE. I always try to lead them to what they are seeking and why. To go a step beyond and ask exactly what it is their desired "lifestyle" is will definitely be good advice. 

I actually never really knew about all the dozens of niches within real estate while growing up, I just knew you could buy and rent or flip. My mindset when looking to make my first purchase was always to quit my day job, whatever got me to that goal the fastest is what I was pushing for. That's how I landed to buying a property, collecting cash flow, trying to make the operations as streamlined as possible, and gaining more units. Early in my investing, on my very second property, I had the opportunity to "flip" my deal within a few hours and make nearly 20% return on an off market deal where a previously interested buyer had offered in cash (essentially wholesale). I decided against selling it, literally within hours of closing, simply because I was set on the cash flow that it would generate for me versus the transnational gain as you had mentioned. Eventually RE allowed me to get to the "lifestyle" that I had wanted: quitting my job, chilling on a beach internationally while barely working a few hours a month. Until I realized how overrated it was and how badly I wanted to be back on the grind and work on new challenges, retirement wasn't my desired lifestyle anymore. 

In my second phase of RE investing now, that "lifestyle" goal has changed to being a more active investor, and I presume it will change again in the future as my desired lifestyle changes. 

This is awesome - I hope you're sharing this story in other places because people need to hear it. Good for you for not doing that wholesale deal, the beginner version of me definitely would have done it. 

So what are you really passionate about doing now? 

 

@Brian Ellwood For me right now it's trying to build a network with access to private capital on one end, and on the other investing in larger, professionally managed assets (hotels, MHP's, storage, apartments) to build out a portfolio. 

Awesome post @Brian Ellwood !  I absolutely agree!  I think some new investors get lost in thinking they have to add 100 units this year like they heard on a podcast, or else they aren't doing it right.  But if you know what numbers you are trying to hit and just shoot for that, then you probably can do that with a lot less doors than most people think.  My husband and I sat down about five years ago and developed a plan to replace his income and that was our plan.  Now, we have surpassed that, and of course our end goal changed, but he is now part time at his job and we have more time to spend together as a family and do the things we like.  We still don't have that lamborghini, but that was never what it was about for us in the first place.

Thank you so much for the valuable information. I am an aspiring investor looking to make my 1st deal. I have probably been thinking too much in to it that it has delayed me for months (Despite COVID-19 uncertainty of course). As a newbie should I worry about figuring out asset protection before making a purchasing decision? This has really delayed me from jumping in. I see so much different information, even in these boards versus Insurance or LLC or both. If LLC is recommended, which state is best to create it in? I read a lot about Nevada, Wyoming, Texas and Delaware being real estate friendly. I'm in NJ and looking to purchase in NJ. South Jersey/Philly suburbs. It is a bit overwhelming. My goal is to have cash producing single family and multi-family homes and to have passive income exceed my expenses ala "Rich Dad, Poor Dad". The more I learn the more insurmountable this all seems. Ultimate end game is to step away from my 20yr IT career and focus solely on RE and the family. Any advice on getting started would be greatly appreciated.

Thank you,

Patrick

@Brian Ellwood First, thank you for your willingness to share your overall personal experience with investing. This industry is very "competitional"  and cut throat. As an R.E Agent I experienced that first hand, unfortunately. Secondly, this is great foundational knowledge for "newbies". Something that seems so complex has been given simplicity! Strategy is key and although failures are inevitable, I would much rather fail forward than backward. 

As I prepare to move forward in the investment world, I am reluctant to open my networking circle. However, I believe that you would be a great attribution to my successes and I am hopeful that I could be the same for you. I'd love to connect & conquer!

Thank you again!

@Tyrone V McCloud this is a great read and much, if not all, can be applied in our foundational growth.

lifestyle is the key phrase here.

I have always thought of my real estate journey as a lifestyle..  from starting as an agent at 18 becoming a broker at 20.

when i look back on my favorite real estate activities I really enjoyed brokering land and ranch's in Northern CA. You meet some pretty neat folks who have made it and are looking for their dream ranch.

I love buying and logging and subdividing timberland in Oregon and WA  ..    Logging if you hit the right jobs is FAST Money and can be very big money and in our day it was all OPM.. we pre sold the logs to the mill.. so we did not even need any cash .. was not uncommon to get 500k to 1mil dollar advances at no points and NO interest.. they take the delivered log we make the delta.. I loved that business..

chasing court house steps foreclosures for a number of years was exciting but LOTS OF work and lots of deals that never come together.

HML in when its good is good..

and in the last 8 years or so as we became an accidental builder  that's been challenging and fun and basically very rewarding on certain projects.. some not so much.

Stacking up a couple hundred C D class rentals while nice for tax etc.. was the thing i liked the very least and i exited 5 plus years ago..  

Having Solid B and A rentals is better in my world..

Although I think on this site particularly the focus of 80 to 90 % of the members is simply rental doors.. be them SFR  small or large multi etc.  Thats the BP members definition of cash flow.  its not from notes.. its not from Timber its not from developing and selling to a national builder.. its not from flipping etc etc.

@Brian Ellwood

Love the post and your story.  I think financial freedom is different for everyone.  Some to quit there job and replace there income, others to have additional income and others to build a retirement plan for themselves or generational wealth.

I chose the path for additional income, which drove the retirement plan, which drove generational wealth and my picture of financial freedom.  My picture is to provide choices to me.  I don’t hate my job, but if I wanted to quit I wanted the choice.

I knew my rental portfolio would be a journey.  I chose to self manage while working full time.  It can be done.  It takes effort like anything worth while.  If I wanted to be an attorney, a cpa or financial advisor it requires education and a license.  This is no different education is the key.  Yes I want passive income of 10K per month.  Will I get there I have no doubt I will.  It will be on my path, my terms and it’s my plan.  It’s ok to shift gears on your plan it’s yours.

Finally you better enjoy real estate investing.  Don’t do it for the money if you hate it.  It’s just another job for you.  It’s not easy, but it’s not hard either.  It takes some guts, risk and a good business plan.

Happy Investing.

@Patrick McGlinchey Don't get bogged down in the details. If you try to learn real estate law for 4 states before you get to a contract you will never buy anything. Asset protection is important, but you need to balance it against your assets and probable exposure - if you are wealthy and looking to purchase a 300 unit building, that is probably a more worthwhile discussion to have with an experienced attorney and your CPA. If you're just starting out and are buying a duplex, you can probably just buy an umbrella liability policy for a few hundred a year and feel ok about it.

I'm not a lawyer and this is not intended to be legal advice....but think about spending $2,500 on a lawyer to figure out which state's LLC will be optimal for you. If that seems like too much of your investable cash, then you probably don't need to be thinking this hard about it. Also, ongoing LLC/corporate reporting and certification can eat up a small property's free cash flow pretty quickly, so keep that in mind too.

The properties I have bought have largely been in my own name - not because it is the lowest risk way to do it, but because I felt ok with the risk/reward trade off.

@Brian Ellwood LOVE it!  This is area of alignment is one of the first areas I work with people.  Real estate is great for creating cashflow and wealth... but it what it can give that is more important (control, time, freedom).  So many fall into this trap that they "love" real estate, so they make it another job, and are disillusioned when they figure that out.  So you have to do 2 things (like you did) to avoid this:  1. You have to know what you truly want (deep down what are you running towards).  For me it's control of my time to spend with my family, friends, and travel.  2. Then you align your investing interests with your time.  Now you make have to flip or wholesale for a bit to get your business started, but you have a greater road map to move past that part of investing, because you know where you are going.

Can't wait to see where your journey takes you next!

Originally posted by @Amy Kendall :

Awesome post @Brian Ellwood!  I absolutely agree!  I think some new investors get lost in thinking they have to add 100 units this year like they heard on a podcast, or else they aren't doing it right.  But if you know what numbers you are trying to hit and just shoot for that, then you probably can do that with a lot less doors than most people think.  My husband and I sat down about five years ago and developed a plan to replace his income and that was our plan.  Now, we have surpassed that, and of course our end goal changed, but he is now part time at his job and we have more time to spend together as a family and do the things we like.  We still don't have that lamborghini, but that was never what it was about for us in the first place.

Love it! Yeah I've seen a lot of people move from full-time to part-time with the additional income that RE provides. Even better, if they move from a "work for money" to a "work because you love it career", that's a HUGE transformation and lifestyle upgrade I've seen many people pull off after starting to invest. 

 

Originally posted by @Patrick McGlinchey :

Thank you so much for the valuable information. I am an aspiring investor looking to make my 1st deal. I have probably been thinking too much in to it that it has delayed me for months (Despite COVID-19 uncertainty of course). As a newbie should I worry about figuring out asset protection before making a purchasing decision? This has really delayed me from jumping in. I see so much different information, even in these boards versus Insurance or LLC or both. If LLC is recommended, which state is best to create it in? I read a lot about Nevada, Wyoming, Texas and Delaware being real estate friendly. I'm in NJ and looking to purchase in NJ. South Jersey/Philly suburbs. It is a bit overwhelming. My goal is to have cash producing single family and multi-family homes and to have passive income exceed my expenses ala "Rich Dad, Poor Dad". The more I learn the more insurmountable this all seems. Ultimate end game is to step away from my 20yr IT career and focus solely on RE and the family. Any advice on getting started would be greatly appreciated.

Thank you,

Patrick

Don't worry about entity, you'll likely either do LLC (should be in same state as properties) or personal name, in either case you'll get an umbrella liability insurance policy to protect you (beyond what an LLC can do).

I'd focus on narrowing in on what you want - what zip codes/neighborhoods in that market, building your team there, learning to find and analyze deals and make offers.  

Originally posted by @Whitney Hutten :

@Brian Ellwood LOVE it!  This is area of alignment is one of the first areas I work with people.  Real estate is great for creating cashflow and wealth... but it what it can give that is more important (control, time, freedom).  So many fall into this trap that they "love" real estate, so they make it another job, and are disillusioned when they figure that out.  So you have to do 2 things (like you did) to avoid this:  1. You have to know what you truly want (deep down what are you running towards).  For me it's control of my time to spend with my family, friends, and travel.  2. Then you align your investing interests with your time.  Now you make have to flip or wholesale for a bit to get your business started, but you have a greater road map to move past that part of investing, because you know where you are going.

Can't wait to see where your journey takes you next!

This is so true! I tell clients all the time "real estate doesn't have to be your CAREER for you to be a real estate investor!"

Just in the same way that many people invest in stocks, but they don't call themselves day traders or stockbrokers. 

 

Originally posted by @Jay Hinrichs :
lifestyle is the key phrase here.

I have always thought of my real estate journey as a lifestyle..  from starting as an agent at 18 becoming a broker at 20.

when i look back on my favorite real estate activities I really enjoyed brokering land and ranch's in Northern CA. You meet some pretty neat folks who have made it and are looking for their dream ranch.

I love buying and logging and subdividing timberland in Oregon and WA  ..    Logging if you hit the right jobs is FAST Money and can be very big money and in our day it was all OPM.. we pre sold the logs to the mill.. so we did not even need any cash .. was not uncommon to get 500k to 1mil dollar advances at no points and NO interest.. they take the delivered log we make the delta.. I loved that business..

chasing court house steps foreclosures for a number of years was exciting but LOTS OF work and lots of deals that never come together.

HML in when its good is good..

and in the last 8 years or so as we became an accidental builder  that's been challenging and fun and basically very rewarding on certain projects.. some not so much.

Stacking up a couple hundred C D class rentals while nice for tax etc.. was the thing i liked the very least and i exited 5 plus years ago..  

Having Solid B and A rentals is better in my world..

Although I think on this site particularly the focus of 80 to 90 % of the members is simply rental doors.. be them SFR  small or large multi etc.  Thats the BP members definition of cash flow.  its not from notes.. its not from Timber its not from developing and selling to a national builder.. its not from flipping etc etc.

Thanks for sharing your wisdom, Jay! What was the biggest difference you saw in switching from C/D to A/B? 

Thoughts on doing lease options instead of traditional rentals? 

 

Originally posted by @Shannan Bowen :

@Brian Ellwood First, thank you for your willingness to share your overall personal experience with investing. This industry is very "competitional"  and cut throat. As an R.E Agent I experienced that first hand, unfortunately. Secondly, this is great foundational knowledge for "newbies". Something that seems so complex has been given simplicity! Strategy is key and although failures are inevitable, I would much rather fail forward than backward. 

As I prepare to move forward in the investment world, I am reluctant to open my networking circle. However, I believe that you would be a great attribution to my successes and I am hopeful that I could be the same for you. I'd love to connect & conquer!

Thank you again!

@Tyrone V McCloud this is a great read and much, if not all, can be applied in our foundational growth.

Absolutely let's connect! 

 

Originally posted by @Brian Ellwood :

Originally posted by @Jay Hinrichs:
lifestyle is the key phrase here.

I have always thought of my real estate journey as a lifestyle..  from starting as an agent at 18 becoming a broker at 20.

when i look back on my favorite real estate activities I really enjoyed brokering land and ranch's in Northern CA. You meet some pretty neat folks who have made it and are looking for their dream ranch.

I love buying and logging and subdividing timberland in Oregon and WA  ..    Logging if you hit the right jobs is FAST Money and can be very big money and in our day it was all OPM.. we pre sold the logs to the mill.. so we did not even need any cash .. was not uncommon to get 500k to 1mil dollar advances at no points and NO interest.. they take the delivered log we make the delta.. I loved that business..

chasing court house steps foreclosures for a number of years was exciting but LOTS OF work and lots of deals that never come together.

HML in when its good is good..

and in the last 8 years or so as we became an accidental builder  that's been challenging and fun and basically very rewarding on certain projects.. some not so much.

Stacking up a couple hundred C D class rentals while nice for tax etc.. was the thing i liked the very least and i exited 5 plus years ago..  

Having Solid B and A rentals is better in my world..

Although I think on this site particularly the focus of 80 to 90 % of the members is simply rental doors.. be them SFR  small or large multi etc.  Thats the BP members definition of cash flow.  its not from notes.. its not from Timber its not from developing and selling to a national builder.. its not from flipping etc etc.

Thanks for sharing your wisdom, Jay! What was the biggest difference you saw in switching from C/D to A/B? 

Thoughts on doing lease options instead of traditional rentals? 

 

C D doors in volume like we had is a job unto itself its not investing.. its people and asset management business.

A class is investing and very passive as long as you choose good tenant up front.. the best of C and D class tenants just have 

everyday life issues that tend to get mixed in with their housing. 

 

Originally posted by @Jay Hinrichs :

Originally posted by @Brian Ellwood:

Originally posted by @Jay Hinrichs:
lifestyle is the key phrase here.

I have always thought of my real estate journey as a lifestyle..  from starting as an agent at 18 becoming a broker at 20.

when i look back on my favorite real estate activities I really enjoyed brokering land and ranch's in Northern CA. You meet some pretty neat folks who have made it and are looking for their dream ranch.

I love buying and logging and subdividing timberland in Oregon and WA  ..    Logging if you hit the right jobs is FAST Money and can be very big money and in our day it was all OPM.. we pre sold the logs to the mill.. so we did not even need any cash .. was not uncommon to get 500k to 1mil dollar advances at no points and NO interest.. they take the delivered log we make the delta.. I loved that business..

chasing court house steps foreclosures for a number of years was exciting but LOTS OF work and lots of deals that never come together.

HML in when its good is good..

and in the last 8 years or so as we became an accidental builder  that's been challenging and fun and basically very rewarding on certain projects.. some not so much.

Stacking up a couple hundred C D class rentals while nice for tax etc.. was the thing i liked the very least and i exited 5 plus years ago..  

Having Solid B and A rentals is better in my world..

Although I think on this site particularly the focus of 80 to 90 % of the members is simply rental doors.. be them SFR  small or large multi etc.  Thats the BP members definition of cash flow.  its not from notes.. its not from Timber its not from developing and selling to a national builder.. its not from flipping etc etc.

Thanks for sharing your wisdom, Jay! What was the biggest difference you saw in switching from C/D to A/B? 

Thoughts on doing lease options instead of traditional rentals? 

 

C D doors in volume like we had is a job unto itself its not investing.. its people and asset management business.

A class is investing and very passive as long as you choose good tenant up front.. the best of C and D class tenants just have 

everyday life issues that tend to get mixed in with their housing. 

 

Makes sense - thx for that advice!

 

Man, what a good post!

You have to come back around to "why are you doing this". Which you essentially hit on. 

Great things to point out, its not all about vast wealth or sitting around doing nothing all day because you're so rich.

Originally posted by @Kenneth Garrett :

@Brian Ellwood

Love the post and your story.  I think financial freedom is different for everyone.  Some to quit there job and replace there income, others to have additional income and others to build a retirement plan for themselves or generational wealth.

I chose the path for additional income, which drove the retirement plan, which drove generational wealth and my picture of financial freedom.  My picture is to provide choices to me.  I don’t hate my job, but if I wanted to quit I wanted the choice.

I knew my rental portfolio would be a journey.  I chose to self manage while working full time.  It can be done.  It takes effort like anything worth while.  If I wanted to be an attorney, a cpa or financial advisor it requires education and a license.  This is no different education is the key.  Yes I want passive income of 10K per month.  Will I get there I have no doubt I will.  It will be on my path, my terms and it’s my plan.  It’s ok to shift gears on your plan it’s yours.

Finally you better enjoy real estate investing.  Don’t do it for the money if you hate it.  It’s just another job for you.  It’s not easy, but it’s not hard either.  It takes some guts, risk and a good business plan.

Happy Investing.

This is my attitude. I love working in my chosen career field. I mostly want to (eventually) generate enough additional income to make deliberate lifestyle choices. I don't want to be trapped working in a toxic culture somewhere, simply because I have no other way to pay my bills.

You are right, though, you do have to enjoy real estate investing. There's no freedom in generating extra income doing something that feels like a chore.

 

Getting some honesty and knocking off the rah-rah of these boards is refreshing.

Maybe someday BP will get really honest and address the reality of the fact that, spoiler alert- there are people that actually LOSE money in Real Estate as well. It's not as simple as "just go out and buy that first house". 

@Brian Ellwood Thank you for your post which has started this conversation. I really enjoyed the step-by-step reasoning you laid out. It is refreshing as @David A. pointed out and I am anticipating reading many more interesting responses. I am not a big player by any means, but my investing has enabled me to cut my full-time job to 20 hours per week 4 years ago, which completely changed my lifestyle to one I truly enjoy living. My investing journey isn't over yet, I don't know my exact next step as some ideas have been put on hold this year, but I know what it isn't, and that is to attain 100 doors. That is not something that interests me at all even though in the beginning I felt inadequate if that wasn't the end goal. Although many times I feel I am in the minority here on BP as far as my style of investing, I am eternally grateful for finding this site many years ago for what some of its valuable members have taught me.

@Brain Ellwood good post!! I don’t think  your the right guy to introduce the RE training Gurus to the stage. LOL

If the RE training teams don’t get people hyped up then sales would go down for their training/ program. It is what it is.  

Originally posted by @Michelle Y.:

@Brian Ellwood Thank you for your post which has started this conversation. I really enjoyed the step-by-step reasoning you laid out. It is refreshing as @David A. pointed out and I am anticipating reading many more interesting responses. I am not a big player by any means, but my investing has enabled me to cut my full-time job to 20 hours per week 4 years ago, which completely changed my lifestyle to one I truly enjoy living. My investing journey isn't over yet, I don't know my exact next step as some ideas have been put on hold this year, but I know what it isn't, and that is to attain 100 doors. That is not something that interests me at all even though in the beginning I felt inadequate if that wasn't the end goal. Although many times I feel I am in the minority here on BP as far as my style of investing, I am eternally grateful for finding this site many years ago for what some of its valuable members have taught me.

I like that you are clear on what you DON'T want (i.e. 100 doors) and that you're OK with that. I think there's a lot of unnecessary pressure that people take on, because they look at others "absolutely crushing it" and then they feel like a loser because they only bought 1 rental property in the last year. 

Many people take this game TOO FAR just because they want to win or beat their competition or look cool, and they actually end up trading a lot of their time and freedom for that extra gain in "success".