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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  • Account Closed
    Member since 2019 · 11 posts · 9 votes
    5y

    @Chris Reyes

    Financial freedom. I don’t want to trade my time for dollars working for someone else. I want to work for myself. I have always loved real estate from the time I was a kid. I’ve gotten a late start but plan to finish strong Lord willing.

    2Reply
  • Jay HinrichsBusiness Member
    Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
    5y
    Originally posted by @Natalie Schanne:

    @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. . . :(

    keep in mind 65 is the new 45..  cant even fathom what i would do with my time if I was not in the real estate business at my age.

    BORING  .. you can only play so much golf..   But for me the WHY was I did not know anything else. Along with understanding at a very early age that working on commission with unlimited income was the way i wanted to go.. Started with Fuller brush door to door at 14..  and then being a licensed agent at 18..  you start making more in one commish check than i could earn with hourly wage in 3 months and well was not hard to understand

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    4Reply
  • Darius Ogloza
    Investor · Marin County California · Member since 2018 · 1k+ posts · 2k+ votes
    5y

    Its stark real-ness appeals to my peasant heart.  If everything in the world goes to sh*t, I can always grows turnips on that quarter acre.

    1Reply
  • Jim K.
    Handyman · Pittsburgh, PA · Member since 2018 · 5k+ posts · 13k+ votes
    5y

    Self-Pity

    I never saw a wild thing

    sorry for itself.

    A small bird will drop frozen dead from a bough

    without ever having felt sorry for itself.

    -- D.H. Lawrence

    2Reply
  • Chris Reyes
    OP
    Investor · CO · Member since 2020 · 52 posts · 39 votes
    5y

    Thank you all for your responses! Its very enlightening to see the similarities and differences between each of your "whys." Each one being very unique and personal! From Financial Freedom/being your own "boss," to taking care of your families (even with the thought of after our existence) are amazing reasons for persuing Real Estate Investing!

    0Reply
  • Chris Reyes
    OP
    Investor · CO · Member since 2020 · 52 posts · 39 votes
    5y
    Originally posted by @Joel Calkins:

    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!

    Hello Joel!

    It sounds like your Grandfather is a very inspiring person! To be able to continue through many different stages the real estate markets had endured over four decades is incredible. And what an opportunity to be a part of his journey and learn with hands on experience on how to manage/Fixup the properties!

    My family (parents) were also a big motivator in the beginning of my REI career. My parents held 2-3 SFR properties for the last 25 years. My mom was huge on finances. Between the both of them, they only have around 80k left on their own house, and after that all their properties will be paid off Free and Clear.

    Thank you again for response!

    0Reply
  • Gregory Tapscott
    Real Estate Agent · California/New Jersey · Member since 2020 · 29 posts · 14 votes
    5y

    @Chris Reyes because when I was a kid growing up with never seeing anyone in my world own property, I said I would! I grew up in a city that was revitalizing in the 70's. I saw what was happening in and tried to get my father to get involved. He said I didn't know what I was talking about. I swore then I would own my real estate empire!

    2Reply
  • Steve K.
    Realtor · Boulder, CO · Member since 2016 · 3k+ posts · 5k+ votes
    5y

    Why not?

    4Reply
  • Chris Reyes
    OP
    Investor · CO · Member since 2020 · 52 posts · 39 votes
    5y
    Originally posted by @Brian G.:

    @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.

    Hi Brian!

    Thank you so much for your response! It sounds like family and God have a huge impact on what Needs to be done when it comes to your ventures and duties. Its very powerful to see using your retirement vehicle not just as a way to simply "Retire", but also to protect your family after the inevitable event of passing over. 

    Family and the blessings of God have been a huge impact on my decision to start my own journey into Real Estate Investing. I found out not too long ago that I will be a father for the first time and can not wait to pass on my knowledge/investments on to my children and secure a financial future for them as well as my Fiance. 

    Thank you again for your response!

    1Reply
  • Chris Reyes
    OP
    Investor · CO · Member since 2020 · 52 posts · 39 votes
    5y
    Originally posted by @Mike Dymski:

    control over family's financial future

    Hello Mike!

    Being in control is the name the game when it comes to Real Estate investing so I've learned. It's an important aspect to focus on especially when it invloves securing our families financial future!

    Thank you again for your reponse!
     

    1Reply
  • Chris Reyes
    OP
    Investor · CO · Member since 2020 · 52 posts · 39 votes
    5y

    Hi Joe!

    It sounds like the Corporate World wasn't in the cards for your future lol. I can't imagine the mental hurdles that is inloved with quiting the 9 to 5 and go off and create your own business, especially involving real estate investing! But it seems like taking that leap of faith and working towards what makes you happy has paid off in something worth more than money. The lessons extracted from your experiences has paid off in dividends im certain!

    Even though I am still in my W2 job, I envision that day that I quit and venture off into full time REI. I look forward to the growing pains and lessons involved with creating a real estate empire and be able to pass the knowledge to many people, especially my family! I know it will not be an easy road but it sounds like it is very possible with self-descipline and to have more of a reason than just to quit being an employee.

    Thank you again for your response!

    1Reply
  • Jose Aguilar
    Specialist · San Antonio, TX · Member since 2020 · 25 posts · 12 votes
    5y

    I chose real estate investing because it excites me the thrill of the hunt, chasing leads, negotiating deals, and helping others achieve their dreams. I also want to give back to my mom for always believing and supporting me, I want to inspire those like me who come from broken homes, those who spend nights alone thinking they aren’t good enough.

    0Reply
  • Jordan Murrell
    Las Vegas, NV · Member since 2020 · 162 posts · 113 votes
    5y

    @Chris Reyes

    Selfishly it’s to travel with my wife for long periods of time and be able to do the same with our kids. I would love to be able to attend their school plays and soccer games. Then leaving my children with something that they will then pass on for generations.

    1Reply
  • Allen Williams
    Realtor · Jacksonville, FL · Member since 2019 · 95 posts · 87 votes
    5y

    The freedom from big corporate America, I love being outside, driving around looking at homes I can help customers buy or purchase myself as an investment. That was my why.

    0Reply
  • Jacob Lapp
    Rental Property Investor · Souderton, PA · Member since 2020 · 124 posts · 106 votes
    5y

    @Chris Reyes

    Replace my salary as a pipeliner by the time I’m 26. To then in turn follow my passion. At this point there are two goals in mind that I’m hoping to do simultaneously. One travel the world and volunteer my time and skills in the construction end in developing countries by building homes or supplying water and infrastructure. Two while in the states start a outdoors leadership retreat and take people on adventures, canoeing, rock climbing, camping, hiking etc for people in the professional world who need to unplug from their phones and practice mindfulness. All without worrying about money and creating generational wealth for my children. Basically I’m hustling now to create a comfortable lifestyle that I’m excited to live.

    0Reply
  • Donald Rohsner
    Property Manager · Baltimore, MD · Member since 2018 · 5 posts · 6 votes
    5y

    My deeper reasons are these:

    1. Being available to Jesus in mastering my kingdom in his pace, provision, love and goodness.

    2. Being therefore available to my wife and children instead of working long OT hours for someone else's agenda (good or bad)

    3. Pour into community, not strip it.  To serve those under my care (tenants) with respect and dignity.  (even a bill or notice, done justly can be loving)

    Money has never been a motivator for me.  Freedom and joy and purpose and true life are.  
    What are you willing to die for?  What stories do you love?  We are all made epically, how will you boldly step forward in the way YOU only can?  

    Thank you for this post, whether you read my reply or not, it helped me freshen up this morning.  God bless you and your families BP people.  

    check out https://billandkimcook.com/ These are some great mentors to grab onto.  

    3Reply
  • Giancarlo Orozco
    Wholesaler · USA · Member since 2019 · 42 posts · 32 votes
    5y

    @Chris Reyes

    To live off the passive income real estate can provide to preach the Gospel of Christ full time.

    1Reply
  • Thomas Greer
    Real Estate Consultant · Member since 2020 · 80 posts · 102 votes
    5y

    While a noble pursuit …society did not ascribe a high monetary value to my undergraduate degree in Sociology.  Haha

    1Reply
  • Tim Miller
    Rental Property Investor · Laurel, MD · Member since 2016 · 383 posts · 382 votes
    5y

    @Chris Reyes As a few others have already stated, Retirement. I remember my grandfather saying "Social Security will not be there when you retire and if it is, it will not look like it does today." Never truer words spoken and this was back in the late 70's early 80's. Now the U.S. is 25 Trillion (and counting) in debt. SS, 401k, Roth IRA's and other sources of retirement can't be counted on. We have calculated what we need to retire on and multiplied that by 2, this is our "WHY" & our goal.

    1Reply
  • Kristine Baltazar
    Rental Property Investor · Hudson County, NJ · Member since 2020 · 6 posts · 7 votes
    5y

    @Chris Reyes to attain financial freedom, to create generational wealth for my family, and to be able to work for myself and be in control of my own business

    1Reply
  • Noreen R.
    Investor · Miami Florida · Member since 2020 · 18 posts · 12 votes
    5y

    @Chris Reyes

    For me as a new investor, my why is to work hard and smart towards financial freedom and to have the flexibility to spend time with my kids and my fur-kids.

    0Reply
  • Carlos Ptriawan
    Member since 2019 · 7k+ posts · 4k+ votes
    5y

    why ? REI the easiest almost no-brainer investment strategy. It's like someone throwing at you one hundred dollar and you need to make it ten dollar for every 100 dolar that you received.

    0Reply
  • Zack Moore
    Real Estate Agent · Springfield, TN · Member since 2019 · 2 posts · 0 votes
    5y

    Still new to the REI game but of course the main reason is to be financially stable and create wealth for my family and generations to come, but another major factor is to help my wife leave her rat race job. She has supported me in my transition to a RE agent and into the investment world and I want her to be able to feel the freedom that REI provides.

    I also love the idea of owning things and providing services for others. While yes I will make money from those services I am able to provide shelter and a safe haven for others.

    0Reply
  • Dennis Cosgrave
    Rental Property Investor · Member since 2019 · 304 posts · 462 votes
    5y

    I got into real estate investment in a round about way. At the beginning it was a matter of economics. I was going to college in a high priced city and rent was exorbitant. Condos were up and coming then and relatively cheap. I borrowed $5k from my mom and bought a 3 bedroom condo. I rented two of the bedrooms to other students and I lived there virtually for free. 

    When I graduated college, I wanted a single family home. The area I wanted to live in was very nice but expensive. I had a good job and I could just afford it but I would have been mortgage poor for the next 15 years. 

    I decided to buy a triplex for the equivalent value of the house I wanted to buy. I figured that after a few years, I would build up some equity and buy the house I wanted with a bigger down payment and a smaller, more manageable mortgage. I lived in one unit and rented out the other two with a net positive cash flow of $1200 per month. BONUS! A year later, I refinanced, pulled out the cash, and bought another one. I ended up owning 5 of them. I still had a full time job so it became a little much to manage. I sold them all and used the equity to buy bigger apartment buildings. 

    It finally reached the point where I no longer needed my job, which I hated anyway. Too much corporate politics for me. I have been free ever since. 

    0Reply
  • Shiva Bhaskar
    Investor · Los Angeles, CA · Member since 2017 · 523 posts · 476 votes
    5y

    A few things:

    1. Never felt totally secure working for others, and wanted to diversify. I like cash flow that is mine, and an employer cannot take it away. I have seen people passed over for promotions, laid off, you name it. There are no secure jobs. Only you can secure your family's future. I embraced that, and never looked back. 

    2. I want to pass something on. Real estate is great in that sense. 

    3. I enjoy looking at deals, interacting with folks, basically putting business together. 

    3Reply
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