What is your “Why” for Real Estate investing ?

146 Replies

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. 

I want to say money or freedom. But that wouldn't be honest. I just like building/growing businesses & working. 

Updated 4 months ago

Also for people that do it for just money, just know that there are diminishing returns. Your style doesnt change all that much from $250k to $500k. The ironic thing is, the more money you make, the more time you spend working, is when you have the least time to enjoy the extra disposable income lol. Ask me how I know.

My beautiful family, the ability to control our time and destiny for generations and to make the most out of my time here on Earth. RE is such an amazing tool for all of that!

@Alex Jones

To repay my mom for the sacrifices she made for me and allow her to and experience everything during her retirement. To choose to work and not have to work. To make my own schedule, have the freedom to take 3-4 vacations per year, surf the best waves, and spend summer on the east coast and winter here on Maui. To give back, provide for the less fortunate and veterans. And finally, since I’m a car guy - to be able to own sports cars comfortably.

And yes, this has been posted many times, I just posted it two weeks before you; but I think it’s something we should continue to post every few months, review and stay focused on so we know why we are choosing to work an extra 10, 20 or 40 hours/week.

My “Why” is simply I don’t want to work for someone else. I love my job right now but I always have wanted to be an entrepreneur but would jump around to much to make any money from the business. When I learned I could invest in real estate full time I was sold.

@Lac Will

Welcome to BiggerPockets family and you are in the right place. Your skills you have is definitely applicable to Real Estate when you are evaluating and analyzing a property before purchasing. You will go far in this business with your ability and skills. Just need to learn the art of Real Estate investing then selecting your strategy and niches. Also look for opportunities to connect with local Real Estate Investment Association (REIA) and consider selecting a mentor of coach. Any particular reason for considering RE?

Alex

@Alec Meredith I 100% agree with you on low quality and unaffordable. I think it takes a group of people with the same vision to commit to finding another way and not stopping until it is finished. It's also going to take us as a society to quit buying so quickly and to think through what's truly best for our families long term. Do we really need 2,500 square feet when we don't use half the home? I'm personally approaching it three ways:

1) We will be the first new building permit pulled in this area since city and county building codes was founded in 1985. The area is about 70% renters in old mill homes and we're believing our home will bring hope to the community and spur on even better ideas for home ownership. These people don't have "credit" and a down payment, but have been the most consistent renters for decades, so why not use that for preapproval, for example? We're also looking to inspire city and county codes to update so that building smaller becomes normal. 

2) I'm currently sleeping on an air mattress while renovating a 1950s ranch home in Spartanburg to learn how much it really costs and what's really feasible. No one tells you about the compact washer/dryers until you have a stackable in the kitchen and need to move it with limited space and start researching yourself, for example. I'm also loving this mature neighborhood with actual trees and houses with character.

3) I'm property managing for a friend's rental to learn more of why people rent and if there's any desire to own a home. Renting isn't a bad deal when you look at interest saved and not having to save for a down payment. Just looking to learn while making a few bucks. 

I believe ordinary people can afford it, because I'm ordinary. It just takes some sacrifices. But what if our children didn't have to make sacrifices for an affordable home and could spend money and energy elsewhere!?

@Greg Gaudet

I totally agree with you that sometime we need a reminder of our reasons for investing whenever life challenge us appropriately. Thanks for sharing your story and I also read your story in your profile. I wishes you all the best.

Alex

@Logan Graham

Have you connect with local FFREIA? I read your profile and it amazing you managing several units. I could love to learn more from you indeed. We can also connect for knowledge and perspective. Beside your parents started in this business, what might be your reasons for getting in? What attracts you want to do this full time?

Alex

I am a fulltime traveling musician and I want to be financially free to come off the road and spend more time with my wife and dogs. I'd like to send someone through college that is not my own kin some day as well.

My why is simple. My daughter dad was kill a little over a year ago. I’m am all she has now And I refuse to be an inactive parent. Meaning working for someone else when I can work for myself. Be more active in her life. I need to be involved. I need to be there on every level and we go through this challenging transition

@Alex Jones great topic to discuss!

My answer...FAMILY.

When my son was born almost 2.5 years ago, all I want to do is spend as much time with him and my wife. But then I had to go back to my 9-5 job. I want to discover a way to make money passively to free up my time to live the lifestyle I want with my family, while creating generational wealth.

I think of life not in terms of time, but I think of life in terms of experiences. I usually visit family once a year back home in Hawaii. That means my son will see his grandparents and great grandparents 20 times in the next 20 years.

Every decision I make, I ask myself if that will buy me time. You can earn money that you lose, but once time is lost, it's gone forever.

That's why I got into REI and my partners and I decided to start a business in real estate.

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?

I LOVE THIS VIDEO!!! Jerryll is the dude behind the exoskeleton. Not just a pretty face... 

@Alex Jones I started investing in RE because it was the perfect "side job" for a full time mom with family all over the globe. At the beginning I was making enough to pay for tickets to visit the family but after 2/3 years I realized I was making more money than all my friends working full time. Thanks to my RE Investing my husband doesnt have to work if he doesnt want to. We are financial free now and using our income to travel as much as possible. For example we are moving to France this August, to spend a year there, learn about wines and improve our french. A luxury that we are able to do thanks to our rentals!

@Alex Jones financial freedom. Financial freedom is akin to controlling your time, and time is the foundation of all things money. If I control my financial future, I control my time, not allowing it to be delegated to someone else lording it over me. Resulting, I'll have the ability to be my children's primary teacher, and spend loads of quality time with my wife.

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