Do you have a Passion for Real Estate?

27 posts by 22 users

Medium 1399332496 avatar flipasap1222 Greg P.
Los Angeles, CA
717 Posts
42 Votes
4 Awards

Greg P.

from Los Angeles, California

Mar 02 '11, 12:29 PM

I'm just curious on how many people honestly just do it because it's good money and makes sense. Or, they do it because they have a true passion? How can you tell if you have a passion? Honestly, I think it's just good business and good money since I dislike construction and smelling paint, dealing with drywall dust and the thought of construction makes me not like RE. Please let me know your thoughts.

Thank you.

Medium 1448397352 avatar bryanhancock Bryan Hancock
Investor from Round Rock, TX
7992 Posts
3284 Votes
24 Awards

Bryan Hancock

Investor from Round Rock, Texas

Mar 02 '11, 12:33 PM
7 votes

I am VERY passionate about real estate. My wife constantly tells me how I *light up* when I talk about anything related to real estate. I read everything I can get my hands on related to real estate, post on BP like a crack addict, run financial models in my spare time, perform transactions, visit clubs, network, etc.

I think it is pretty easy to tell that you are passionate about something based on how you spend your time.

Medium realstarter2Bryan Hancock MBA, RealStarter
E-Mail: [email protected]
Telephone: 1-800-577-0401

No avatar medium Account Closed
Landlord from Seattle, WA
3413 Posts
1783 Votes
14 Awards

Account Closed

Mar 02 '11, 12:38 PM
4 votes

I find many benefits to investing in RE. Tax breaks, money, growing retirement funds and the fascination of watching properties morph.

If I had the time, could find the deals and had a team, I probably would be flipping. I love to take something that looks run down and turn it into something clearly livable.

I enjoy working with numbers and analyzing deals as well. I also enjoy investigating ways to improve profitability and adding value.

Since I was young though I have worked with my hands and did some of the less glamorous jobs. Some of these jobs though may be less glamorous but they do provide a sense of accomplishment.

So part of my passion for real estate comes from that sense of accomplishment. Succeeding in acquiring a good deal. Rehabbing an ugly duckling and providing a place for others to live in.

So much easier to succeed when you enjoy what you do.

Medium 1415904854 avatar anson Anson Young
Denver, CO
1513 Posts
420 Votes
11 Awards
Medium 1399498629 avatar i landlord John C
Real Estate Investor from SouthCentral, IA
95 Posts
45 Votes
2 Awards

John C

Real Estate Investor from SouthCentral, Iowa

Mar 02 '11, 01:33 PM
4 votes

I also love real estate. I enjoy finding a home that is distressed, putting in the time and effort to gain the sweat equity and also to make it beautiful again and then renting it out for cash flow. I am a farmer as well, I love buying farms and cleaning them up and making them productive. To me Real Estate is the best job in the world and I get satisfaction out of it daily. Its not really a job to me, its a hobby that supports my family and I thank God for the oppourtunity to do so

Greg P.

from Los Angeles, California

Mar 02 '11, 01:50 PM

Thank you for all the replies. Does anyone do it just for the money?

Medium 1399313897 avatar realtyman Dale Osborn
Mobile Home Investor from Spanaway, WA
1924 Posts
446 Votes
12 Awards

Dale Osborn

Mobile Home Investor from Spanaway, Washington

Mar 02 '11, 04:14 PM
3 votes

Money just happens to be the gravy on top. When doing a career search the first thing suggested is to find something you enjoy doing. Then you look for jobs that match your likes. Most people stuck in the 9-5 JOBs do not like what they are doing, but are there solely for the money or benefits. If given the opportunity, they would all look for something more enjoyable to do for 40 hours each week. The bills are pressing with the economy the way it is so people stick to the SAFE route and keep on doing the things they Don't Like "just for the money or benefits"!

Medium 1448323426 avatar jasonscott J Scott
Investor / Business Guy from Ellicott City, MD
15811 Posts
12289 Votes
15 Awards

J Scott Verified Moderator Donor

Investor / Business Guy from Ellicott City, Maryland

Mar 02 '11, 04:35 PM
5 votes

While I don't do it just for the money, I also don't do it because I have a driving passion for RE specifically.

While I certainly enjoy certain aspects of RE, the thing that I have a passion for is building the business -- creating value out of nothing. If it weren't RE, I would be creating another business doing something else.

In fact, when I think about the day to day aspects of my business (dealing with contractors, stupid agents, lying buyers, annoying banks, etc), it makes me realize that there are a lot of parts about real estate I don't enjoy at all. Luckily, I can delegate most of that stuff out to employees, and focus on what I do enjoy...building the business...

Medium lishproplogoJ Scott, Lish Properties, LLC
E-Mail: [email protected]

Bryan Hancock

Investor from Round Rock, Texas

Mar 02 '11, 08:10 PM
3 votes

I think it would be hard to argue that anyone engages in real estate transactions and is passionate if they are doing it just for the money. However, I do agree with JScott that many of the things I do not enjoy and building a business brick by brick is one of the primary passion centers for me.

Medium realstarter2Bryan Hancock MBA, RealStarter
E-Mail: [email protected]
Telephone: 1-800-577-0401

Medium 1448386327 avatar financexaminer Bill Gulley
Investor, Entrepreneur, Educator from Springfield, MO
20656 Posts
10365 Votes
18 Awards

Bill Gulley

Investor, Entrepreneur, Educator from Springfield, Missouri

Mar 02 '11, 08:12 PM
11 votes

I'd have to say that when I started it was about making some money on the side. My career really took off in the mortgage business. Initially it was about the money, but that changed quickly after making some dreams come true.

I guess no one has called you a "dream maker", but I had a young family that I put in a home and that's what I was called. I won't ever forget them. My attitude changed. My goal changed from making money to changing lives, giving others financial security, givng kids a safe clean place to grow up, providing self esteem and a sence of accomplishment to young parents and assisting others in meeting goals that were important to them.

It does not matter if you are putting tenants in a rental, providing a home loan for a small home, rehabing a median priced property or selling a 400K property, you are adding value to your clients' lives, and to your community. Look at the social impact a home makes to anyone and understand that you are part of that, making needs, desires and dreams come true.

It's easy to be passionate about RE when you consider the impact you really make around you. How can you not be passionate about that?

Medium logoscopiccroppedblue2Bill Gulley, General Real Estate Academy

Medium 1399394541 avatar jvermillionaf James Vermillion
Property Manager from Lexington, KY
2919 Posts
1089 Votes
11 Awards

James Vermillion Donor

Property Manager from Lexington, Kentucky

Mar 02 '11, 08:17 PM
2 votes

I am a very passionate person, meaning I tend to bring passion to whatever I am engaged in. I have known I was going to be an entrepreneur since I was very young, I just did not know in what area. I also knew I would serve my country, something else I am passionate about. Real Estate is one of the few areas that allows me to do both at the same time, so it just made sense for me.

Greg P.

from Los Angeles, California

Mar 02 '11, 10:42 PM
1 vote

Good point Jscott. I know exactly what you mean when you say lying buyers etc. It seems in this business; people tell lies because of the money. It's pretty sad, but reality. You don't really see it in other businesses. Thanks all!

Medium 1399517639 avatar josephkberry Joseph Berry
Residential Real Estate Broker from Denver, CO
1 Post
2 Votes
1 Award

Joseph Berry

Residential Real Estate Broker from Denver, Colorado

Mar 03 '11, 04:24 AM
2 votes

You know, without passion, I don't think anyone will enjoy what they do; and that can only last for so long one would think before they burnout. One of my founding principals and a requirement of new agent hires is passion for real estate and I make sure to inform the public on my about us page, [LINK REMOVED], so they too know how important that quality is in the person they're considering hiring. I could even say that without passion or the love for the work, you'll not truly carry your client's interests throughout the transaction.

Edited Mar 3 2011, 13:55 by Moderator: links in signature, please

Bryan Hancock

Investor from Round Rock, Texas

Mar 03 '11, 10:29 AM
2 votes

Passion is definitely the key ingredient to greatness in many endeavors. Passionate people will do what people who think something is "work" will not and will knock down barriers to MAKE IT HAPPEN. One of my favorite videos of all time is Randy Pausch's "Last Lecture:"

Last Lecture

There is so much wisdom in that video. The walls are there for a reason. They let you know badly you want something!

Medium realstarter2Bryan Hancock MBA, RealStarter
E-Mail: [email protected]
Telephone: 1-800-577-0401

Medium 1448381836 avatar bryana Bryan A.
Full-Time Investor from Charlotte, NC
2174 Posts
1381 Votes
14 Awards

Bryan A. Donor

Full-Time Investor from Charlotte, North Carolina

Mar 03 '11, 10:44 AM
1 vote

i'm obsessed with RE....good thing it also makes me money..ottherwise i'd be broke with an expensive hobby :D ...i think about it a lot...of course there are bad things that i think about a lot too...tenant problems, huge repairs, frivolous lawsuits, etc.

Bryan A., Carolinas Revitalization, LLC
E-Mail: [email protected]
Telephone: 704-905-6510

Medium 1399485929 avatar chris  h Chris H.
Commercial Real Estate Broker from Walnut Creek, CA
40 Posts
5 Votes
2 Awards

Chris H.

Commercial Real Estate Broker from Walnut Creek, California

Mar 09 '11, 01:46 PM

I am (like everyone else replying to this topic seems to be) obsessed with RE. I sometimes catch myself when walking down the street just admiring and thinking about the buildings surrounding me. Not only if it had beautiful architecture I could admire, but the age of the building, its historical significance if any, the effort to construct it, etc.

I am still in the process of absorbing what I can of RE investing knowledge everyday, but I know that I will enjoy seeing my hard work payoff in something tangible and real. I haven't slaved over hours of painting, or dealing with tenant's problems or the like yet, but I have prepared myself for these situations and certainly think that the pro's outweigh the cons.

Medium 1399289709 avatar blackhawk99 Mark Yuschak
Residential Real Estate Broker from Grand Blanc, MI
881 Posts
288 Votes
8 Awards

Mark Yuschak

Residential Real Estate Broker from Grand Blanc, Michigan

Mar 09 '11, 09:09 PM
1 vote

I'm in agreement. My passion runs very the point of obsession. People often tease me that I "work" too much. I remind them that it's not "work" if it's also your hobby and in your blood lines. The money is just icing on the cake. As a matter of fact, I've never taken a distribution of money from my s-corp. All the profits just get rolled into new real estate related endeavors. Thankfully, we can live very frugally off my wife's income.

Of all the things real estate related, what I dislike the most is landlording. It goes back to the 80/20 rule...80% of them are a hassle and that gives it a bad name for the other 20% that I genuinely like.

Medium 1399384035 avatar vkrmca Vikram C.
Real Estate Investor from Phoenix, AZ
1462 Posts
1822 Votes
10 Awards

Vikram C. Donor

Real Estate Investor from Phoenix, Arizona

Mar 10 '11, 11:17 PM
1 vote

I do not have a passion for RE and feel about it pretty much the way J Scott described. My passion, instead, is for business and investing. RE happens to be the industry in which I do both and I, too, suffer from the "working too much" ailment because I enjoy what I do.

It takes drive to accomplish something but the drive can come from different motivations and interests than the activity in which one is engaged.

Medium 1400607109 avatar mr investor James Hiddle
Altus, OK
2883 Posts
590 Votes
7 Awards

James Hiddle

from Altus, Oklahoma

Mar 11 '11, 04:48 AM

Having passion about RE is one thing actually going out there,doing deals and living that passion is another.

Bryan Hancock

Investor from Round Rock, Texas

Mar 11 '11, 10:02 AM
1 vote

Truer words have never been spoken! It is consistently puzzling to me how people can spend so much time "learning" about real estate and so little time doing.

Medium realstarter2Bryan Hancock MBA, RealStarter
E-Mail: [email protected]
Telephone: 1-800-577-0401

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