What is your "why"?

Real Estate Broker · Fort Smith, AR · Member since 2016 · 31 posts · 8 votes

I've been listening to several of the BP podcasts over the last week and I keep hearing the same question pop up at some point during the podcast. The question is "what is your why?" Why do you or why do you want to invest in real estate? It has me thinking about my "why" and I'm curious about why other BP members choose to invest in real estate. One of my "why"s is my family and especially my son and future children. I would love for him to not have to worry about a college education and student debt and I would love to be able to leave him a small nest egg when I'm gone. So if you don't mind sharing, what is your why?

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Garrett Diegel

Rental Property Investor · NV · Member since 2014 · 241 posts · 85 votes

Time is everything. Time with family, friends, or whatever you want. Money is nothing but choices. The more you have the more choices you have.

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JD MartinBusiness Member
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Rock Star Extraordinaire · Northeast, TN · Member since 2015 · 10k+ posts · 16k+ votes
8y
My 'why' is that I didn't want anyone to have financial control over me. It started out as just a place to put some savings that wasn't making any money. Yes, technically speaking, everyone could decide to boycott me and not rent my homes, but beyond that I have a lot of options outside of just working a job. If your W2 is your only means of financial security, you are standing on a very rickety bridge.
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Account Closed
Realtor · Austin, TX · Member since 2014 · 74 posts · 48 votes
8y
Money and Time are both in short supply and I'd very much like the freedom to spend mine as I like.
2 Reply
Chris HosierPro Member
OP
Real Estate Broker · Fort Smith, AR · Member since 2016 · 31 posts · 8 votes
8y
@JD Martin I like it. Financial freedom is obviously a "why" of mine as well.
@Account Closed Makes since to me.
1 Reply
David Zheng
Investor · Saint Louis, MO · Member since 2016 · 970 posts · 1k+ votes
8y
Nice cars, big house, sweet monthly vacations, eating anywhere and everywhere I want (#singlelife)
then after that I'm all about just paying for more time with family, future kids education, health, relaxing.

To make this more detailed, I'm probably going to upgrade my Gallardo to a Huracan!
2 Reply
Garrett Diegel
Rental Property Investor · NV · Member since 2014 · 241 posts · 85 votes
8y
Time is everything. Time with family, friends, or whatever you want. Money is nothing but choices. The more you have the more choices you have.
7 Reply
Jason G.Pro Member
Rental Property Investor · Long Island, NY · Member since 2015 · 434 posts · 495 votes
8y
To achieve financial freedom and retire early.
1 Reply
Edwin K.
Tuscaloosa, AL · Member since 2016 · 17 posts · 12 votes
8y
@Garrett Diegel I love that slogan "Money is nothing but choices. The more you have the more choices you have."
My "why" is I want to control my life and time. I'm tired corporation telling me how I can spend my time. They tell me when I have to come in to work, when to eat lunch, how long I can eat lunch, when I can leave, how long I can be on vacation, how long I can be sick, etc. I'm just tired of. I have been working for corporate america since I was 16 and now I'm 27. I don't see how people do it until they are in there 60s.
4 Reply
Taylar Caraway
Realtor · Marietta, GA · Member since 2018 · 50 posts · 23 votes
8y
Originally posted by @Garrett Diegel:

Time is everything. Time with family, friends, or whatever you want. Money is nothing but choices. The more you have the more choices you have.
LOVE THAT!
2 Reply
Anthony Wick
Rental Property Investor · Ankeny, IA · Member since 2017 · 2k+ posts · 3k+ votes
8y
Early retirement (and by that I mean the ability to do what I want, not just sit on my butt). And after that, some wealth for my children to enjoy life without being paycheck to paycheck.
1 Reply
Darren Lenick
Flipper/Rehabber · Davie, FL · Member since 2016 · 101 posts · 136 votes
8y
My "why" is freedom:
- to chose when and where I work
- to chose what I buy and sell
- to chose how and when I will retire, if ever
- to chose when I go on vacation
- but most of all, to teach my children financial freedom and to create their own destiny.
1 Reply
Chaz Mathias
Real Estate Agent · Santa Rosa, CA · Member since 2018 · 84 posts · 105 votes
8y
To help others and make a difference in the world. Personally to provide a better future for my family. Having a "why" is so important to help drive you through the difficult times.
1 Reply
Chris HosierPro Member
OP
Real Estate Broker · Fort Smith, AR · Member since 2016 · 31 posts · 8 votes
8y
I love all the answers! I agree with many others on the "why" and also agree that it's important to have a "why".
0 Reply
Caroline C.
Investor · Jacksonville Beach, FL | NYC | Tamarindo Costa Rica · Member since 2014 · 182 posts · 130 votes
8y
One of our original 'whys' was to have options. We bought in cities that we liked and might want to move to someday, having our tenants essentially pay them down for us. Over the years we've definitely branched out in our investing, but 2 of our investment properties are places we will spend significant time in once we hit empty nest next year.
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Blake Palmer
Rental Property Investor · Jackson, MS · Member since 2017 · 21 posts · 15 votes
8y
I want to make my own hours so I can spend more time having fun with my amazing wife and beautiful daughter.
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Dustin Beam
Kansas City, MO · Member since 2015 · 609 posts · 321 votes
8y
I've always felt the the whole "you gotta have a why" shtick is way over blown. Everyone, outside of the people who refuse to work, already have the why. Whether they invest or not. An average Joe's "why" he/she goes to work is going to be nearly the same as most of us. They just have a lower bar. For example, "have a house, car, take care of family, time/money to take vacations, etc" are all the "why" for average Joe.
Those aren't all that much different than mine... And probably not that much different than any of us on this forum.
I'd instead say "How IMPORTANT is your why". The why is there if you're even reading this post. Now how much work, hussle, sacrifice, risk are you willing to take to get the (nicer) house, (nicer) car, (better ability to) take care of family, (more) time/money to take vacations, etc? That's the question.
But to answer your question, I don't like anybody having control over me. I don't like that I must go to work every day. I don't like that I must ask permission to not come to work. I don't like the lack of freedom I have. My current job takes some of my freedom and then gives me money to enjoy some other freedoms. I want it all though. The 1st world society is great in many parts of the world. But it's a big wheel with billions of cogs that live a life of glorified indentured servitude. I say screw that, break the mold and do what you want. I'm not free yet, but not a day goes by where I dont' think/plan on how to get there
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Arthur Soto
Kansas City, KS · Member since 2018 · 12 posts · 2 votes
8y
I am actually starting out but it’s not even to achieve “financial freedom”. My goal at my current company is to never leave until retirement time(our retirement is different and much better than your normal one) I enjoy what I do, and plan to expand my knowledge to make a difference within. On the flip side, I don’t want to save money just to watch my bank account grow slowly... I feel in the end this is what I have to do to gain that 3rd check a month and raise my yearly income. And that is my “why”.
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Richard Russell
Rental Property Investor · Haysville, KS · Member since 2014 · 24 posts · 16 votes
8y
The Hustle for me is the why, the money is nice and freedom later is too. But a big part of the Why is the Hustle. Making the deals and winning.
1 Reply
Jack B.
Rental Property Investor · Seattle, WA · Member since 2014 · 1k+ posts · 1k+ votes
8y
Initially just bought a paid off place to live to be more secure, always have a roof over my head, then I rented it out and liked what I saw, so I kept buying even more houses. Now it's about financial freedom and not working for other people at dysfunctional jobs.
0 Reply
Jessica G.
Investor · Dallas, TX · Member since 2014 · 177 posts · 213 votes
8y
As others have said - choices. I have to be in control of my destiny. Also, I love the chase!
0 Reply
Johnny Kang
Investor · New York, NY · Member since 2014 · 279 posts · 224 votes
8y
@Chris Hosier
I wanted to see if I had the guts to go against the grain and make it.
That I faced my fears and had the will to push through, when most quit.
1 Reply
Caleb Heimsoth
Rental Property Investor · Durham, NC · Member since 2016 · 7k+ posts · 7k+ votes
8y
I’ve always wanted to be an entrepreneur but never found the right situation to make it work. I’m also conservative by nature as it’s how I was raised. REI is a good way to slowly build a business on the side while having a good regular job. One day in my early to mid 30s I’ll walk away as the tax advantages of rental income vs W2 job make it easier to earn a lot more money and pay a lot less taxes. I’ll live in a low cost of living area and probably work on my business 6-9 months a year while then traveling and spending time with family. I’ll make sure my income from investments and REI are about double what I spend, so it’ll just compound indefinitely. As to a specific why: Being a business owner, freedom, more time.
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Chris HosierPro Member
OP
Real Estate Broker · Fort Smith, AR · Member since 2016 · 31 posts · 8 votes
8y
@Caleb Heimsoth You mentioned one of my dreams. I would love to travel 3-4 months a year with family and not have to worry about having the freedom to do that.
@Jessica G. The chase is what makes this so rewarding, at least for me. It's not easy but it is fun!
2 Reply
Justin Fox
Software Developer · Vidor, TX · Member since 2015 · 922 posts · 639 votes
8y
Meh, why not?
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