What's your WHY???

52 Replies

Shock, Anger, Denial, Depression, and Acceptance…

These are the 5 stages people go through during a traumatic event.

About 2 years ago, I had my traumatic event when a family member’s health took a serious turn for the worse. I spent 30 days in the hospital and rehabilitation center helping them along and making sure all went as well as possible.

In the end, my family member required 24 hour care. My options were limited to either have them stay in a care facility or figure out how to financially pay for a similar service at work, which would be much more expensive. I essentially had to come up with about $3000/month within the next 3 years to keep them at home.

I’m very old school (I guess) in that matter. I know my parents would want to finish their lives in the house we all grew up in. I also realize that I am who I am because of them.

In the middle of all this, I somehow struck up a conversation with a co-worker who began to describe to me how he had accumulated 10 single family properties in the Las Vegas area within the last 3 years. He lives in California, but decided to invest in Vegas because of the much lower entry costs. He has his reasons, or his “why”, which lead him to his course. Instead of bombarding him with questions, I decided to educate myself a bit first on what he was discussing.

That’s where a found Bigger Pockets online. It literally opened up my path to resolving my matter. Here, I discovered how cash flow properties could get me to my goal… how wholesaling and flipping could augment that goal. I was also able to find my now-partner who pretty much took me under his wings and helped me accumulate my current portfolio.

My strategy was simple..

Each unit, or door, acquired in my buying area provides me with $150/unit/month after all expenses. If I acquired 20 units, that’s $3500 per month in total. My goal of $3000 is then more than achieved.

At this point, I have 17 units acquired. I’m in the process of rehabbing a portion, refinancing a portion, and collecting rents from those already completely processed. In all, I’m well within schedule of meeting my 3 year deadline of $3000/month. I’ve also created teams to help build wholesaling and flipping opportunities as well, to create capital support to help sustain cash flow growth.

The moral of the story: What’s your WHY? Ask your at least 3 times why you are doing something. It’ll get you to the root cause of your action. Without a solid root cause, its very hard to stay motivated and drive through all the learning, obstacles, and fears. Your why is what will drive you to extraordinary limits. My why is what wakes me up at 5:30AM before I go work, use my lunch breaks to create more opportunities, go to REAs after a full day work to network, and build a team to not only help my cause, but to help others. What you give comes back tenfold without asking...

God bless and enjoy your Sunday!

Rafael

908-419-3665

Excellent post thank you very much! Personally I liken what I do as the bridge to get me what I want. THINK BIG! Make it a great day Mike

Much appreciated guys.. I've received much from this forum and look to contribute back where I can..

THINK BIG! That's great! Currently reading The One Thing!!

908-419-3665

My "Why" is I want to be able to retire early.  I am 49, and realized that with my current savings and 401K, I would need to work past 60 to assure I can retire comfortably.  I'm already tired of working, and can't imagine another 11 years.  

I bought my first rental property last year,  and plan to purchase 3-4 more this year.  My goal is to get 15 properties under my belt cash flowing at least $250 a door per month.  Then I will be able to go into real estate full time (which I don't think of as a job because I love it).  

After I get more properties in my portfolio, I will start testing out Property Managers until I find a good one, and put all my properties under PM control.  Then I can retire, and my new hobby will be finding the next deal to add to my portfolio.

This is a high level overview of my plan, and will probably change as time goes on.

That's great Tim. Congrats on getting started! 

Yea, its good to at least set that initial stake in the ground and watch things develop as your learn along the way..

908-419-3665

Great post and story!

Our "why" is early retirement when my husband retires from the navy (god/navy) willing. After living in small towns, i realized that once this navy journey was free I wanted control over my finances so we could live where ever "we" wished. This started our journey and my love. As all things once the real estate bug bits, it bits :)

Great focus!  And asking yourself "why?" is not just a good idea at the start... its a good idea at every step along the way!

Retired at 50, my why is to preserve what I got. In a little mess with my TIC Tenant-in-Common investments, lost one Office complex, and trying to hold on two students housing. Always a problem with all 25 investors to agree.

Still happy with my income, helping family, and always hungry for more knowledge, but no plan to invest!!!! Thanks

kris

My "why" used to be to own nice things. Autism changed that. Now my "why" is to make sure he and his sister have a secure future.

For those that are not sure what is being described here or have answered hastily, this is a subject worth looking into. Read the book by Simon Sinek - Start With Why. There is also a short YouTube video he did on the subject. But starting with your 'Why' should not be something you can answer quickly if you REALLY get to the true why.

Why has to speak to the soul of who you truly are. "I want to be wealthy" is not a why, that is the result of something. "I want to make money in real estate" is not a 'why' - that is a what or a how.

It took me over a month to come up with my why, and I ended up coming up with something that in the end became more of my life's 'mission statement' if you will:

My Why - To focus the efforts of my life toward things specific to the service of those I care for, the acquiring of wisdom and knowledge for myself, or to gain understanding into the mysteries of the nuances of life.

That is me to a T. Now WHAT I do has to fit into my why. That in the end is what makes people truly happy. I realized that my corporate america job does not fit my why. And even though I enjoy it I have to start to focus on something that gets me more towards my why, even if it takes years.

Again, I highly recommend reading the book.

"This book is not designed to tell you what to do or how to do it. Its goal is not to give you a course of action. Its goal is to offer your the cause of action." -Simon Sinek

My Why: To have 100% control of my time. To enjoy and spend it however I want with whoever I want with no reservations.

@Jonathan Key  

For me to go further in depth on my "why" would scare most people or make them think I was crazy.

My why moment came when I realized that I wanted to create a family legacy of wealth that would change my family tree.  The opportunity of Real Estate allows so much leverage that it can level the playing field in the investment sector.

Three Principles of "Why"

Freedom of Time

Financial Freedom 

Tax advantage leverage

@Rafael Norat

 Thank you for this important post! My WHY is to have the financial freedom for the things I want to do, be self sufficient and give back to the community. Many times I lose sight of this so thank you for the reminder to ask myself "why" more often.

Good post. My why is to have something to pass on to my offsprings, their offsprings, and on and on.  Also it is my way of making a positive different in someone life by setting an example by providing good housing, to being an employer, and proving the good guys can win outside of a fictitious movie role. (smile) 

Man!! Great to hear people share wonderful intentions. I feel that the more sincere your thoughts are, the easier it is to remain focused in the long run. One thing that I've realized since entering the investor world is that most people share a common bond in that they all have something pivotal in their lives directing their actions. I wish I had an clear understanding of this earlier and hope to be able to share its importance with everyone receptive to fulfilling the potential.

Enjoy your week and make it happen!!

908-419-3665

@Rafael Norat Thanks for posting. I can relate to this post, and I give you big KUDOS for figuring out how to make it work to support your "WHY." Again, thank you for sharing.

MY "Why" is written out in my journal but the condensed one is. For my wife and kids to have a life of enjoyment and to full fill our passions and help others that want to do the same.  This business of real estate is great for it. BP is the right place to learn and improve upon my investing business. 

My why is so that my son will have a neighborhood full of Autistic support by the time I am gone.  And that other parents can also stop fearing how their autistic kids will cope after they are gone.  I am determined to change the world for Autistic people.  Luckily, I am naive enough to believe I can do just that. Guess that makes me qualified.

My why is most certainly To break generational curses that have haunted my family for generations.

At a young age I decided I was going to be "successful". While real estate is just one facet of this life goal and purpose I do realize that through this avenue I am able to connect with people, form relationships and possibly help others along in their goals and dreams. 

If you help as many people get what they want soon you will have everything you need. 

Originally posted by @Elizabeth Colegrove:

Great post and story!

Our "why" is early retirement when my husband retires from the navy (god/navy) willing. After living in small towns, i realized that once this navy journey was free I wanted control over my finances so we could live where ever "we" wished. This started our journey and my love. As all things once the real estate bug bits, it bits :)

 Thanks for your sacrifice and be sure to thank your husband for his service!!

Rafeal, thanks for this amazing post and sharing your situation.

My why is many reasons.  To create time to do the things I feel I need to do in my lifetime, I need financial freedom.  This includes helping kids that are innocent of the situations they're in (Seattle Children's Hospital and Saint Jude are two of my favorite charities to donate to)  and families of our Military and Police services who have lost or suffered the severe injury of their loved ones.

I am an automotive and autosport enthusiast and would love to work with organizations such as Make a Wish foundation to make any kids with a passion for cars or motorsports dreams come true!  I would also like to open low cost automotive education centers for the public because the auto shops in public schools have vanished from their classes.

Awesome thread! My goal is to replace my income in 4 years. I want to have the option to retire before I am 35.

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