What is your “Why” for Real Estate investing ?

146 Replies

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@Dallas Sullivan

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.

Alex

@Johnny Espinoza

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.

Alex

@Alex Jones spending time with my little ones.. my dad worked at a paper mill and worked around the clock to provide for the family.

I want to be able to take my kids on trips, camping and enjoy the beauty this life has to over..

Wish you abudance on your journey..

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.  

Originally posted by @Dallas Sullivan :

@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!

  • good location
  • 60+ unit community
  • B or C class
  • ability to raise rents at least 20%
  • light rehab (paint, flooring, counters, appliances, fixtures, etc.)
  • eligible for agency financing
  • inception debt service coverage 1.40+
  • cash-on-cash after re-positioning > 15%
  • IRR > 25%

Keeping a promise

Not many people can do what I can do. If those that can won't,... who will?

Money. Which will eventually turn to freedom. And early retirement.

My wife and I are retired; we decided to buy MF properties to generate income so we don't have to work at Walmart. Wonderful motivation!

So far it is working out great.

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 😇

For me it’s pretty simple. Financial freedom. All of my other life goals can be achieved if that one goal can.

@James Murphey

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.

@Cassandra Sifford

This is beautiful when someone like you want to take care of family! I wishes you the best!

Alex

@Todd Powell

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!

Alex

Originally posted by @Jerryll Noorden :

Keeping a promise

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.

Posting for the first time on Bigger Pockets.

Do not know if this is even the right forum...

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.

Originally posted by @Jim K. :
Originally posted by @Jerryll Noorden:

Keeping a promise

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.

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