I just finished reading Chad Carson's bp blog post, "Why the Massive Real Estate Empire You Think You Want Won't Give You the Life You Imagine". It really rang true for me. I see a lot of wannabe investors, newbies, aggressively scaling investors, and very successful large scale investors on the site, but the little guys like myself tend to get lost in the wind on bp.
I would assume must of us "little guys" as satisfied with our portfolio and our goals because it satisfies our why. Here's my why:
My husband is a high school English teacher who loves teaching the lower level often underprivileged student. He has a passion for seeing those others have given up on succeed. He has no desire to give up his teaching career anytime soon. I call him my silent credit partner. My husband does little to manage our units, but his government job and near 800 credit score looks great to underwriters.
I work part time from home doing accounting and admin projects for the company I worked for full time prior to becoming a mom. You see I have twin boys who are about to turn 2. After 8 years of marriage and trying for 5 years for children, the Lord doubly blessed us. We waited a long time and I want to enjoy every minute I can with them. I call them the junior partners. They often go with me to our properties and even attended the last 2 closings.
My husband and I currently own 7 units and will be closing on number 8 on March 5th, if all goes well. My goal is to have and self manage 10-15 doors by 2020. Many would find this to be a modest goal, but it will allow me the income my family needs without sacrificing time with my boys.
I know defining the small investor is like defining the middle class, but to all the little guys, share how being small accomplishes your goals and your why. Go ahead brag like the big guys!
Note: I mean no offense to those of you with large real estate portfolios. In fact feel free to share how having large numbers of deals meets your why as a counter point to my post. I also know the bragging about how may doors or deals one has is only done by small minority of posters and do not mean this as a insult to the masses.
@Anna Buffkin - Great post. One of the cool things about REI is it can support your why regardless of where it lies on the spectrum of portfolios.
10-15 doors is big for most people and a fantastic goal. While I love cheering on the big wins on BP, I think my favorite posts are the "I got my first deal" ones.
Love that you bring your boys along with you. They will learn so many invaluable lessons being part of your process and your business. As you know, your investment with them is invaluable. Enjoy! :)
Thanks for sharing!
They are not bragging...they are networking. They are sharing success stories to provide inspiration and help to other investors and to network for business opportunities.
Congrats on the twins and the investing business and, mostly, congrats on understanding what you want in life.
Success is making daily decisions that align with each of our individual goals, whether that is 10 units or 10,000 units. Many of us want one thing and then spend every day doing something else.
And Chad is a superstar...a natural teacher. I am convinced that he is going to be a best selling author one day.
1 two year old + 1 two year = a lot more effort than 2 times 1 two year old
i'm an accountant and no one taught me that math in school
Without a strong why we can get lost. Without a concise mission statement choices become more abundant and more difficult to discern. Without vision we won't know how far to go or not.
When times to decide the big stuff like whether to expand or downsize, leverage up or reduce down, evict, hire, fire, partner, etc - your why and mission and vision will guide you.
Aligning your mission, vision and purpose is easier said than done, of course. However if you don't try and ID them, they do not all happen by accident. Sometimes we ready fire aim, hoping to be like someone else before we know what we want or why we want it. For every huge success story on BP I assure you there are more posts asking for help getting through a challenge or struggle.
Chad's article was amazing. Thank you pointing that out and for sharing a bit about you @Anna Buffkin !
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