Many post with HOW someone got started in RE investing. But I was curious on WHY you chose real estate? Was it your mother or father or relative you admired? Was it just intellectual curiosity? Was it some infomercial? Whatevwr the reason0. What was the influence?
Rental Property Investor · Springfield, MO · Member since 2019 · 462 posts · 365 votes
6y
The choice to work towards financial freedom was very obvious when I looked at the numbers of my future life.
The 'traditional' method of working meant spending 45 hours a week in an office building... for the next 40ish years (I was 28 at the time). That is giving 90,000 hours of my life to some corporation.
Now math time (because math is fun)!!
168 hrs in a week - 56 hrs spent sleeping - 45 hrs at work - 5 hrs commuting - 3 hrs doing fitness stuff = 59 hrs of possible free time
What does all that mean?... I realized I would only have 59 hours a week... for the next 40 years to dedicate to my family. That just wasn't acceptable for me. I want to offer my family more than they can want and take them on trips that will shape their views of the world as they grow up.
That is why we bought our first rental property almost 2 years ago and have a current goal of being 'retired' from the corporate world in just 8 more years.
Rental Property Investor · Springfield, MO · Member since 2019 · 462 posts · 365 votes
6y
The choice to work towards financial freedom was very obvious when I looked at the numbers of my future life.
The 'traditional' method of working meant spending 45 hours a week in an office building... for the next 40ish years (I was 28 at the time). That is giving 90,000 hours of my life to some corporation.
Now math time (because math is fun)!!
168 hrs in a week - 56 hrs spent sleeping - 45 hrs at work - 5 hrs commuting - 3 hrs doing fitness stuff = 59 hrs of possible free time
What does all that mean?... I realized I would only have 59 hours a week... for the next 40 years to dedicate to my family. That just wasn't acceptable for me. I want to offer my family more than they can want and take them on trips that will shape their views of the world as they grow up.
That is why we bought our first rental property almost 2 years ago and have a current goal of being 'retired' from the corporate world in just 8 more years.
Investor · Youngstown, OH · Member since 2017 · 2k+ posts · 2k+ votes
6y
I decided to house hack so I could better afford my student loan payments. This was before I discovered BP or knew that house hacking was a coined term. I received my first rent payment and was hooked. Once I discovered the power of RE, I knew it was what I wanted to do with my life.
Rental Property Investor · Canton, OH · Member since 2017 · 1k+ posts · 1k+ votes
6y
@Toan Hoang
I busted my a** over the years for a W2 job giving up family, friends, health, relationships, and much more to climb the proverbial corporate ladder. Then, I was laid off shortly after Christmas despite a recent relocation I did for the company, having great performance, and previously being told I was "part of the long-term Executive Team."
While I do work another W2 job now, I told myself I will never allow that type of crap to happen again. So in less than 2 years, I built a portfolio I can basically live off of if-needed. Looking for true FIRE by end of 2020!
Simply financial freedom to be able to do the things I want to do, and not what someone else tells me to do. I want to get to a point where I can quit the corporate world. Once I leave the corporate world, I want to continue to invest in real estate and possible other ventures to continue growing my wealth.
Interesting that most people seem to have been self motivated driven to overcome a certain situation. Student loans, financial freedom, etc..
I was influenced by many of the same things. However more specifically i saw certain family members be successfull in RE with much less education or resources than i ever had. So i figured if they can do it I can do it. And my natural ambition was to do it better. I still have a long way to go. But i can see the path forward. Hoping I can impart some knowledge on my kids so that they can start earlier in there life.