What was your "why" for getting into Real Estate Investing?

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What was your "why" for getting into Real Estate Investing?

Chris Reyes
Investor · CO · Member since 2020 · 52 posts · 39 votes

A lot of the time i feel like beginners lose focus because they're "why" for getting into REI (or lack there of) is not as strong as it could be. In my opinion, a persons "why" is the reason for going through the most toughest situations and appreciate every victory (both big and small).

I know the biggest motivation of course is money and fancial security, but is there any deeper reason that has helped you get started or grow to the level you've reached over the years?

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Brian G.
Rental Property Investor · Los Angeles, CA · Member since 2013 · 1k+ posts · 1k+ votes
5y

@Chris Reyes it’s my retirement vehicle of choice. My motivation is to provide for the future needs of my family, especially my wife. Statistically 3 out of 4 husbands predecease their wives. My why is not “I want to” but more of “I must”. In essence, my why is to fulfill what I believe is my God given responsibility to be a provider for my family, especially my wife.

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  • Joel Calkins
    Real Estate Agent · Member since 2020 · 139 posts · 103 votes
    5y

    Hey Chris,

    One of the biggest driving factors in my motivation for REI is my Grandfather. He built an impressive real estate portfolio over roughly 40 years and I spend my summers fixing/gutting/cleaning those properties. Growing up I found the value these properties give and the financial freedom it can provide. You have to love what you're doing in order to stay motivated.

    Just my two cents!

    23Reply
  • Brian G.
    Rental Property Investor · Los Angeles, CA · Member since 2013 · 1k+ posts · 1k+ votes
    5y

    @Chris Reyes it’s my retirement vehicle of choice. My motivation is to provide for the future needs of my family, especially my wife. Statistically 3 out of 4 husbands predecease their wives. My why is not “I want to” but more of “I must”. In essence, my why is to fulfill what I believe is my God given responsibility to be a provider for my family, especially my wife.

    32Reply
  • Mike Dymski
    Investor · Greenville, SC · Member since 2016 · 5k+ posts · 13k+ votes
    5y

    control over family's financial future

    12Reply
  • Joe S.Pro Member
    Investor · San Antonio · Member since 2020 · 3k+ posts · 3k+ votes
    5y
    Originally posted by @Chris Reyes:

    A lot of the time i feel like beginners lose focus because they're "why" for getting into REI (or lack there of) is not as strong as it could be. In my opinion, a persons "why" is the reason for going through the most toughest situations and appreciate every victory (both big and small).

    I know the biggest motivation of course is money and fancial security, but is there any deeper reason that has helped you get started or grow to the level you've reached over the years?

     The reason I got into real estate is, because I had no retirement plan for the work I did. I never felt like I would be the worlds best employee so I did not wanna work a regular job. This has been a challenge in the initial learning stages, because it limited my ability to get loans by normal means. I have found workarounds and ways of using OPM as well. I will say that a person that is getting into real estate, because they don’t want to work is not a realistic goal. You will work on building your portfolio and there is a lot of self-discipline involved. I would rather work for my future than  jobs that someone else owned.

    8Reply
  • Simone LiTrenta
    Member since 2020 · 1 post · 3 votes
    5y

    Over the last 7 years, I've purchased 3 properties (although I sold my original condo - still have primary and a rental) and am now looking for my first reno. I decided to pursue real estate because I really enjoy it. I'm not sure it's an adrenaline rush, but it's close - I love spending hours online looking for properties, going out with my agent, doing re-fi's, reading up on the latest market trends, all of it. For me, it's also a pretty easy-to-understand way to invest (going deep on stock market investing puts me to sleep, so I have trusted advisers there) and I feel very confident in my ability to learn what I need to in order to be successful in this area.

    3Reply
  • Account Closed
    Rental Property Investor · Torrance, CA · Member since 2016 · 724 posts · 1k+ votes
    5y

    @Chris Reyes

    I chose real estate because of the exponential nature of it. Every property I buy creates cashflow that I roll into the next one, like a snowball rolling down a hill that never stops. There’s a cap to how high you can climb the corporate ladder, but my portfolio will grow forever, even after I die. My dream is generational wealth.

    17Reply
  • Elizabeth Holloway
    NYC · Member since 2020 · 12 posts · 36 votes
    5y

    My youngest child had a heart transplant as an infant.  His ongoing care requires a lot of time and flexibility given his long stretches in the hospital.   I want to transition out of corporate America and into full time RE investing so I can be available at all times.    And as Jonathan said, generational wealth.

    20Reply
  • Mohamed Fakih
    New to Real Estate · Dearborn Heights, MI · Member since 2020 · 12 posts · 8 votes
    5y

    I am a newbie investor but I decided I wanted to do real estate investing because I want to be financially free. I want to live on my own terms and travel when I want to travel. I want to enjoy the great outdoors and explore. I also want to make my family proud! Those are a few of my whys.

    6Reply
  • Steve Vaughan
    Rental Property Investor · East Wenatchee, WA · Member since 2014 · 10k+ posts · 16k+ votes
    5y

    Freedom.  Freedom from punching a clock or being deployed.  Freedom to have choices. 

    14Reply
  • Andrew Carlson
    Rental Property Investor · Rochester, MN · Member since 2017 · 224 posts · 323 votes
    5y

    I was a travel nurse for 5 years. I made good cash, but had no retirement. I knew if I wanted to have a good retirement I had 2 options. Stop traveling and grind at the same employer for the next 30 years, saving and shelling all of MY money into a retirement account with the pathetic employer match. OR I could buy real estate for the next 30 years and not have to worry about who I’m working for or how long, or how much I’m putting into retirement accounts etc. Freedom.

    9Reply
  • Aaron Caminati
    Rental Property Investor · Willimantic, CT · Member since 2020 · 23 posts · 14 votes
    5y

    I want the financial freedom to travel and have the extra cushion to do fun things in life! I work hard and I want to be able to vacation hard also, so getting enough passive income to do that for me is a must!

    6Reply
  • Will GastonPro Member
    Rental Property Investor · Columbia, SC · Member since 2010 · 1k+ posts · 2k+ votes
    5y

    @Mike Dymski and @Steve Vaughan said it best:

    Control and freedom.

    Real estate provided me both. I only have myself to blame if things don't go the way I want them to. 

    11Reply
  • JD MartinBusiness Member
    Moderator
    Rock Star Extraordinaire · Northeast, TN · Member since 2015 · 10k+ posts · 16k+ votes
    5y

    I woke up one day after calculating what my retirement pension would be and realized I better start producing more income than what the cash was doing just sitting in the bank or I was going to be eating a lot of Ramen Noodles. 

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    Skyline Properties
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    13Reply
  • Chris Allen
    Temple, TX · Member since 2018 · 307 posts · 215 votes
    5y

    In short, I want to do What I Want, When I Want, with Whom I Want.

    As an RN, when I think about the long hours, holidays, and overall having to sacrifice time with family in order to put food on the table, I would rather have a life set on my own terms, not an employers. Additionally like others have said, it is also generational wealth. After I pass, my wife, kids, and hopefully grandkids will be able to reap the benefits of the investments that I make today.  

    7Reply
  • Anthony Wick
    Rental Property Investor · Ankeny, IA · Member since 2017 · 2k+ posts · 3k+ votes
    5y

    Money, of course. But, deeper than that.....passive income at retirement. I was back to renting again after a divorce. Started all over. It didn't take long to realize paying rent was a great way to waste money. It certainly wasn't because I like tenants (of note: all my tenants are great. If you're my tenant, I was not talking about you). 

    2Reply
  • Curtis Mears
    Property Manager · Raleigh, NC · Member since 2014 · 728 posts · 596 votes
    5y

    @Chris Reyes

    I was tired if seeing my funds in the market go up one day, then down the next I decided I needed to take control of my savings. Also, I wanted out if the 9 to 5 office.

    5Reply
  • Bonnie Rhodes
    Real Estate Agent · Nashville, TN · Member since 2020 · 77 posts · 71 votes
    5y

    Similar reason as @Chris Allen.. desire the freedom to spend my time with my family & friends more. I want to prioritize the things that really matter while I am here!

    3Reply
  • Michael C. Vidal
    Los Angeles, CA · Member since 2018 · 4 posts · 5 votes
    5y

    My dad worked in construction part time after his main job to put my sister and I through school.

    I’m a nurse and as such, I have learned a lot about communication skills and helping people. I also taught to clinical students and their “aha” moments were the best to observe.

    I want to take what my dad taught me and put it in a way that will make him proud. Even the smell of wood from the cologne: Amouage Interlude reminds me of when my dad was sawing in front of the garage.

    I want to be able to buy homes to rehab. I want to be able to rent them out to put a roof over someone’s head. I want to one day teach people this system as soon as I build it, so that “aha” moment I got - I can see from others. That’s my why.

    4Reply
  • Alexander Szikla
    Real Estate Agent · New York City · Member since 2020 · 818 posts · 639 votes
    5y

    @Chris Reyes - got a few for ya!

    1. Full Value Creation - Everything I "create", I "keep" - no sweating for the CEO's bank account.

    2. Corporate Life got boring and repetitive.

    3. After years of crouching over Excel models, my back just began to scream. Sitting is the new smoking. I want to be up and about, not chained to a computer for 10-12 hours per day.

    4. Flexibility - So much necessary "life" was made impossible or difficult due to rigid scheduling and our culture's obsession with shaming folks for self care whether that is taking time for lunch with friends, vacation, doctor's appointments or therapy sessions! 

    3Reply
  • Joe Edwards
    Investor · Northern New Jersey · Member since 2020 · 94 posts · 96 votes
    5y

    @Chris Reyes

    Honestly, its completely in my DNA. As a kid I would build things out of anything and knew from a very you age I wanted to be a engineer or architect.

    Fast forward I got my education in architecture only to realize that i was not cut out to be a person in a office all day so I took a leap of faith in jump into high residential construction working for a company and I have never looked back since.

    I'm now 20 years of being self employed owning a full service construction design build firm and love it to death. Real estate was a natural fit giving I purchase my first property at 20 years old and got a taste of that transaction and knew right away real estate and being a business owner was my true path to real freedom answering to know one but myself.

    I love the chaos of the rehab or new build process and I feed off it! Once I add BRRRR to the process it was game on. It's now my personal video just will real people, money and property. I live for being creative and structuring deals.

    Real estate not a short term get rich quick so I dont have to work anymore thing for me. I know without a doubt I will be doing deal, embarrassing the chaos of construction until the day I die or lose all my mental functions.

    3Reply
  • Dylan Pino
    Member since 2020 · 8 posts · 11 votes
    5y

    @Chris Reyes No BOSSS!!!

    2Reply
  • Wallace Pendleton
    Chicagoland Area · Member since 2018 · 22 posts · 46 votes
    5y

    @Chris Reyes to make sure my children have better options when they become adults than I did. Financial freedom for them and generational wealth.

    4Reply
  • Kathy Henley
    Rental Property Investor · St. Louis, MO · Member since 2014 · 741 posts · 424 votes
    5y

    @Chris Reyes The income is steadier than designing wedding gowns, my previous career. And I can choose my projects.

    2Reply
  • Bud Gaffney
    Rental Property Investor · Boston, MA · Member since 2019 · 2k+ posts · 1k+ votes
    5y

    @Chris Reyes It’s an incredible feeling to buy back your time. With financial freedom, allows you to truly do what you want with your time. That’s my why :)

    4Reply
  • Natalie Schanne
    Real Estate Agent · Princeton, NJ · Member since 2016 · 1k+ posts · 1k+ votes
    5y

    @Chris Reyes - because I hate paying more for stuff than I have to. So I went from renting a room in someone else’s house -$7200/year to owning my own house and having other people pay me to rent rooms from me +13200/year.

    There are so many places to invest your money that are better than the 0% I currently get on my bank funds.

    My final why is I need to save up money for my kids college and having tenants pay off a 15 year mortgage seems like a good way to go. Each kid gets her own house. Go to college. Keep the house. Whatever you want.

    I see way too many people in their 60’s who’ve spent every dollar as they’ve made it and are going to be facing either debt or a severely reduced quality of living going forward if they ever retire. I don’t want to be like that. I don’t want to have to work at 65 or 70 because I didn’t plan ahead and I refied and spent it so my house isn’t even paid off. . . :(

    3Reply
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