Rental Property Investor · Rochester, NY · Member since 2013 · 162 posts · 127 votes
My “why” for started in this business is to financially support my daughter college tuition, room and board plus books and other expenses associate with college. Later expands to annual cruise travels and vacation house for me and my wife; be a role model for Deaf and Hard of Hearing prospective RE investors; being a entrepreneur part-time for continue personal and professional growth.
Thanks for sharing. I need to start thinking about the word “generational wealth”. This come up couple of time on threads and else where. I think about my son who will graduate from college this week and my daughter will finish HS next year. Generational wealth make the most sense if we want to pass things to them.
Financial freedom look like a solid reason for doing real estate. What might be the freedom from? Day to day worries? Have sufficient left over after all bill paid and percentage save and or invest? For me, I want financial freedom to take my wife to annual cruise trips.
My reason is to have enough cashflow to replace my families income. Not so we can quit our jobs as much, but to have the option to take time off to pursue something new.
@Mike Dymski Cool. That is also apart of my “why?”. Just reaching out in a wholesaler in the Greenville area looking to connect with other real estate investors, shoot me a quick message with what you’re looking for in the area and/or contact info if your interested in being added to my buyers list, thanks in advance!
Giving my beautiful babies something that they can hold onto ... the ability to actually see someone they are personally connected to making their dreams come true!!! To see me persevere through struggles and come out on top while putting in HARD and SMART work. Showing them that they too can do anything their little heart desires 😇
It is always nice to have options. I wanted that to be available for me as I reach a certain point in my Real Estate journey. Thanks for sharing and wishes you all the best!
@Alex Jones the why has changed a little over the years.
In 2001, when I first began, it was all about paying for college tuition and my fears about that. But, my two boys ended up getting either academic or athletic scholarships, and whew, dad was pumped and saved tons of money!
I have flipped over 30 properties and now hold and manage 29 doors, and also have ownership interest with partners in a 72 unit building, and my WHY today 18 years later has been to be financially free and retire early living on cash flow. The basics are, I want to retire early (I am 51 years old now), and live on cash flow. I used to think it was all about making money, and acquiring massive property equites. Although I have achieved this, I realized late in the game it was more about having positive cash flow and avoiding the daily grind of finding, rehabbing, and flipping properties while also paying the government huge sums of money on short term flips. Although I needed cash to buy into deals and pay for the rehab, flipping is hard work while maintaining a full time career and raising a family.
The "WHY" for me is ALL about FAMILY! My kids and their children will benefit more than my wife and I. I came from nothing and a sub par family, so it is my pleasure to work and leave my family wealth I have worked hard to create. That's my WHY.
Todd, this is a great story you share about building your real estate cash flow. Also you are right, our reasons/why for investing can change at some point depends on what happening with family and life challenges. I own and operate couple of rental properties as buy and hold strategy. I wanted to expands more on this. Work hard and stay focus for long period of time. Great example you provide!
Background is not in real estate but in Data Analytics/Data Science - analyzing and determining patterns in large data sets (millions of rows of complex data).
Interested in initially researching before actually investing.
Really would like to determine the type of data that I should review to quickly determine if the local market has potential or not.
Not many people can do what I can do. If those that can won't,... who will?
Talent does what it can. Genius does what it must.
Not sure about genius.. but yes. I do what must be done. Seriously... who else will?!
Can you imagine the tears in his eyes when he first stood up on his "own"?
Do you want to know what these people dream of?
You think running in the fields, climbing trees...
Wrong
They want to be at eye level to you, when you talk to them.
Apparently it has an extremely psychological effect when people constantly literally look down at you to talk. This comes from several people we interviews completely unrelated. It is nuts.
Other answers are
"being able to lift up my daughter and swing her around".
For "fun" lay down on the floor, and try to crawl up and into your bed without using your legs. Dude I am a super mutant power being.... yet I couldn't do it. Something so simply and trivial as just climbing onto your bed.
Yes... most people have NO idea about these challenges (including me) UNTIL someone with special needs enters your life.
Yes I am bragging, showing off my godly SEO skills and reaping havoc here in the BP forums... just so I get more traffic and make a name for myself, which all leads to more deals, higher rankings... more money.... finally being able to make my bud (and others) walk again.
If I wait for someone to step up to make this happen it simply NEVER will!
So I am stepping up and I am hoping this will make others that can... step up too!
@Trey Burns So how do you plan to do things differently. I'm curious to know because I believe housing has become low quality and unaffordable. Ordinary people can't afford to renovate their homes for modern living.
My four rescue dogs and others in need. And to do something good for the world - there's a plan there and it's in action. Engineering will transform how we build, dwell, and coexist. There's a better way to do things
@Alex Jones my "why" is so I have more flexibility in my work schedule to spend time with family and friends and grow those relationships. If I don't do this, and I work up the ladder in corporate I'll only get promoted but have less time with each promotion to be with my family and friends. I also want to be able to travel a little more, financial security, help others, and do other items on my bucket list.