QOTW: What is your “Why” for investing?

General Landlording & Rental Properties
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QOTW: What is your “Why” for investing?

Alicia MarksPro Member
Fort Worth, TX · Member since 2020 · 1k+ posts · 2k+ votes

Thank you to everyone that has shared their thoughts in the question of the week so far! As the Community Engagement Specialist for BiggerPockets, I love to see how diverse real estate can be. Being so different, we all have different motivations for our "Why". Let's talk about yours! What is it now, has it always been that way, or did your mindset shift? What do you think caused that shift? How are your action working to reinforce your why?

Share your stories and make some connections!

[email protected]Podcast Guest on Show #204
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Nathan GesnerBusiness Member
Moderator
Real Estate Broker · Cody, WY · Member since 2010 · 28k+ posts · 41k+ votes
4y

I wanted to accomplish three things: financial independence in case I don't want to work or am unable to, the ability to enjoy life on my terms rather than chasing a paycheck, and the ability to help others.

I've hit all three of them, but now I want more so I can really blow the top off my third "why" regarding charity. My new goal is $300,000 annual income from investments, of which at least 30% will be for charitable contributions.

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31Reply
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  • Sender Brickman
    Member since 2022 · 4 posts · 16 votes
    4y

    Protecting your money from losing value from inflation! Is just 1 wonderful why for investing!

    15Reply
  • Bjorn AhlbladPro Member
    Investor · Shelton, WA · Member since 2017 · 6k+ posts · 6k+ votes
    4y

    I am old and retired; my wife is younger and retired too, we landlord to supplement our retirement income so we don't ever have to work at Walmart!

    21Reply
  • R.J. Lange
    Kennewick, WA · Member since 2021 · 30 posts · 34 votes
    4y

    Long term- Retirement income plan 

    Shorter term- pay for my daughters college education

    19Reply
  • Randy Gutierrez
    Investor · NY · Member since 2019 · 171 posts · 80 votes
    4y

    1) Financial Freedom/Retirement

    2) Put myself in a position to help others close to me

    12Reply
  • Ryan Lee
    New to Real Estate · Elgin, TX · Member since 2022 · 1 post · 5 votes
    4y

    So I can have the freedom and the time to do the things I love; to always make sure my passions are well tended to. 

    5Reply
  • Matt M.
    Specialist · Easton, PA · Member since 2018 · 1k+ posts · 2k+ votes
    4y

    I've never had an IRA or 401k. Our goal is so my wife can leave her career (that she dislikes) early once we get to the cashflow we need, and sell them when we are old. I'll retire when I'm dead.

    And owning properties makes me feel good, I work really hard and worked hard to get them.

    12Reply
  • Nathan GesnerBusiness Member
    Moderator
    Real Estate Broker · Cody, WY · Member since 2010 · 28k+ posts · 41k+ votes
    4y

    I wanted to accomplish three things: financial independence in case I don't want to work or am unable to, the ability to enjoy life on my terms rather than chasing a paycheck, and the ability to help others.

    I've hit all three of them, but now I want more so I can really blow the top off my third "why" regarding charity. My new goal is $300,000 annual income from investments, of which at least 30% will be for charitable contributions.

    The DIY Landlord Book4.7248 Reviews
    WebsiteView Page
    31Reply
  • Christle Stezskal
    Rental Property Investor · Algonquin, IL · Member since 2019 · 55 posts · 63 votes
    4y

    @Alicia Marks

    My husband and I started investing about two years ago. We love it. I’m obsessed with every part of it from finding deals to managing rehabs to leasing the units and managing them.

    Why real estate? 1) It’s a passion. 2) it allowed me to leave my full time job that I wasn’t very happy in. 3) I’ve got flexibility in my work so that I can spend time with my two young daughters. 4) it’s going to help my husband retire early as well. 5) we provide a safe living environment to our tenants. A place they’re proud to call home.

    I’m so happy I found real estate!

    12Reply
  • Christle Stezskal
    Rental Property Investor · Algonquin, IL · Member since 2019 · 55 posts · 63 votes
    4y

    @Nathan G.

    Love that you have a plan for charitable contributions. That’s awesome.

    2Reply
  • Christle Stezskal
    Rental Property Investor · Algonquin, IL · Member since 2019 · 55 posts · 63 votes
    4y

    @Matt M.

    My last day at my w-2 job is Monday. I was completely fed up with it and we’re at a place where our rental income covers my paycheck. Now I’ll have more time to continue building our portfolio and I’ll be doing something I love.

    Good luck getting your wife out! It’s amazing how quickly it can come when you put your mind to it.

    12Reply
  • Adrian Luna
    Member since 2021 · 4 posts · 6 votes
    4y

    Financial freedom.  And be able to use my pockets to help others.  

    This group is really the best find ever on the internet. 

    6Reply
  • Mike Dymski
    Investor · Greenville, SC · Member since 2016 · 5k+ posts · 13k+ votes
    4y

    To have control over my family's financial future.

    7Reply
  • Ana Santana
    Real Estate Agent · NYC · Member since 2021 · 3 posts · 7 votes
    4y

    Thanks to my house hacking for the last 24 years I have been able to retire way before 

    my time and pay off my mortgage in full.  now on the way to continue investing, why??? because I love freedom

    and don't want to go back to the work force but work on my own.

    life is good when you not force to work but work because you want to!

    3Reply
  • Bradley Rieger
    Rental Property Investor · Medford, NJ · Member since 2018 · 41 posts · 18 votes
    4y

    Financial Freedom, I want time to pursue my passions and to give time back to the community. I have a little ways to go, but I have very big goals to purchase two multifamilies this year. One multifamily at a time 

    4Reply
  • John MorganPro Member
    Rental Property Investor · Grand Prairie, TX · Member since 2018 · 2k+ posts · 2k+ votes
    4y

    It started as a hobby 7 years ago which my wife hated. Lol. Now it’s to retire my her in May which we’re on track for. Never thought the cash flow would be this good this soon. And now she’s ok with my hobby. Lol

    2Reply
  • Albert Cua
    Member since 2021 · 4 posts · 4 votes
    4y

    I work as a home health physical therapist and I mostly see geriatrics patients. Most of them struggle with finances and I don’t want to be like that when I retire. I also want to generate wealth that I can pass on to my 2 children. 

    4Reply
  • Khaled El DorryPro Member
    Casselberry, FL · Member since 2016 · 111 posts · 54 votes
    4y

    @Alicia Marks secure my kids’ future. I have a W2 that I’m happy with and I use the extra income to invest in real estate long term so it’s there for the kids.

    3Reply
  • Justin Gabrielli
    Investor · TX · Member since 2022 · 3 posts · 6 votes
    4y

    Freedom for myself and my family. Not live to work and enjoy the short time I have here on planet earth.

    6Reply
  • Schneur Sanowicz
    Aventura FL · Member since 2021 · 19 posts · 5 votes
    4y

    @Nathan G. I'm 20 years old I saved 50k what did you do with your first 50k?

    1Reply
  • Nathan GesnerBusiness Member
    Moderator
    Real Estate Broker · Cody, WY · Member since 2010 · 28k+ posts · 41k+ votes
    4y
    Quote from @Schneur Sanowicz:

    @Nathan G. I'm 20 years old I saved 50k what did you do with your first 50k?

    I bought a hoarder house in 2016 for $55,000 knowing ARV would be $150,000. I cleaned it up, rented it, and it appraised for $170,000. Today it would sell for $250,000.

    However, I wasn't where you're at. I was in my 40s, no debt, married with three kids, already had a primary home, etc. If I were single and young, or even married and young, I would look for a property with 2-4 units and househack. You could buy a $500,000 four-plex with about $25,000 and keep the other $25,000 as a reserve (smart move, particularly for a beginner). Live in one unit, rent the others out, and you can probably live rent-free while learning how to be a Landlord and building equity. A couple years later, rinse and repeat. Within three years you can have a place to live and seven rentals.

    If you haven't already, read "Set For Life" by Scott Trench. Lots of financial wisdom, well written, and he explains how he house-hacked his way to eight rentals that pay for themselves and for his single-family home he lives in.
    The DIY Landlord Book4.7248 Reviews
    WebsiteView Page
    7Reply
  • Ana Santana
    Real Estate Agent · NYC · Member since 2021 · 3 posts · 7 votes
    4y

    I am putting my focus on the next one family home in Charlotte, North Carolina.

    This is to continue my freedom journey and early retirement .

    1Reply
  • Gary L Wallman
    Rental Property Investor · Beavercreek OH · Member since 2018 · 422 posts · 970 votes
    4y
    Originally posted by @Alicia Marks:

    Thank you to everyone that has shared their thoughts in the question of the week so far! As the Community Engagement Specialist for BiggerPockets, I love to see how diverse real estate can be. Being so different, we all have different motivations for our "Why". Let's talk about yours! What is it now, has it always been that way, or did your mindset shift? What do you think caused that shift? How are your action working to reinforce your why?

    Share your stories and make some connections!

    The fun of doing something I'm good at and enjoy.

    The fun of success.

    The fun of financial security.

    The great joy of being able to donate money to my favorite causes i.e. kids and animals. Love St. Jude's, Shriner's Hospital for kids, Ronald McDonald House, Humane Society and Food Bank.

    Gary

    3Reply
  • Account Closed
    Rental Property Investor · Austin, TX · Member since 2019 · 3 posts · 9 votes
    4y

    @Christle Stezskal amazing to hear that y’all started 2 years and able to accomplish so much. It def gives me more motivation!! 🎉

    1Reply
  • Account Closed
    Rental Property Investor · Austin, TX · Member since 2019 · 3 posts · 9 votes
    4y

    @Schneur Sanowicz

    Amazing saving!!

    I was in the same boat when I was 20. I spent it on education and I got a bachelor in accounting.

    Looking back, I would have bought a small two-bedroom condo in my college town to live in one and rent out the other room. I would work extra hours to pay for expenses.

    6Reply
  • Asha Kanta Sharma
    Accountant · Guwahati, AS · Member since 2022 · 5 posts · 5 votes
    4y

    @Sender Brickman Very well said

    2Reply
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