QOTW: What is your “Why” for investing?

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

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Real Estate Broker · Cody, WY · Member since 2010 · 28k+ posts · 41k+ votes

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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Asha Kanta Sharma
Accountant · Guwahati, AS · Member since 2022 · 5 posts · 5 votes
4y
@Alicia Marks The purpose of investing is to let money work for us.
3 Reply
Corinne Amerman
Maricopa, AZ (Maricopa) · Member since 2021 · 1 post · 5 votes
4y
For generational wealth. We have 8 kids and praying for numerous grandkids in the future. To truly be there for our kids while they have young children. To be able to teach our kids while we expand in real estate. To give in ways far greater than we ever had before.
5 Reply
Sally Miller
Cleveland, OH · Member since 2019 · 1 post · 5 votes
4y
I am just starting out in real estate investing because I think it will lead me to financial independence. With that independence I hope to buy a beautiful piece of land, build a small home and live a simple life.
5 Reply
Matthew Bellefontaine
Halifax, Nova Scotia · Member since 2022 · 4 posts · 7 votes
4y
My family is my biggest why. I have 2 little girls at home, the first one was born before Covid and as such I worked while she grew. Now the second one is here and I am spending a lot more time working from home. Its amazing to be home everyday and being able to not only help my wife when she needs it, but to be able to watch my little girl learn and grow. I have seen her roll over, start laughing, eat her first bowl of mush. Things I got to see with my first child, but only after I came home and she already did it. I believe in ditching my 9-5 to be home with my family, and real estate seems to be the way to do that.
6 Reply
Jennifer McPherson
Mead, CO · Member since 2016 · 65 posts · 60 votes
4y
My "Why".... My husband and I were in our mid-40's and working in the private industry and felt the need to supplement our retirement in order to live a better life once we retire. That is still a why and but as we shifted our investments to STR we are finding the cashflow is much higher than it was when we had long-term rentals. So we shifted our model to STR. It is WAY more fun than being a day to day long term landlord! In my day job I own a marketing agency and by nature I am SUPER creative. Which makes it extremely fun for me to use my creativity to set up STR's!
5 Reply
Jason R.
Investor · Denver · Member since 2018 · 16 posts · 13 votes
4y
Hello all, I have several reasons for why I have invested for the last 10 years. First and foremost, I was inspired by my dad. He currently owns several rental properties. He is seriously a jack of all trades. Like a good son, I wanted to be like him (easier said than done). I went out and acquired my first primary homestead, and went to town on watching YouTube videos on how to fix this and replace that. Long story short, I did this several times. I would buy a house, live in it for a few years, fix it up, then rent it out. I'm sure my neighbors hate me for doing this to their nice and quiet neighborhoods haha. So, other than wanting to be more like my dad, I also wanted to have the monthly passive income coming in. Through the years, this would always perk me up seeing it hit my bank account. Also, it was nice knowing I was bringing in more $$$ than my boss at work!
Another reason for investing, the tax write offs!!! How cool is it to write your travel and certain expenses? Being able to write off my properties has helped me out so much over the years. Last motivating factor, doing something that not many people are willing (or capable) of doing. I purchased my first house back when most people were just renting. Many people feared buying because of the hangover the Great Recession left in our minds. Almost all of my friends and family told me I was crazy for buying. They also thought it was a bad idea to rent the house out. I learned a lot over the years and am willing to take on more risk as I slowly try to replace my W-2 income.
5 Reply
Joe SplitrockPro Member
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Rental Property Investor · Sioux Falls, SD · Member since 2015 · 9k+ posts · 18k+ votes
4y
We are investing for wealth, so we can buy time and opportunity. I want to choose how I spend my time and not have my decisions controlled by money. Early retirement, healthy life style, travel, legacy and charity are all things I can accomplish through wealth. I also want to set a good example for my daughter, so I can be her "rich dad", making her path easier in life.
6 Reply
Eric Bilderback
Real Estate Agent · Sisters, OR · Member since 2014 · 1k+ posts · 1k+ votes
4y
1. I've never had a job I looked forward to going to.
2. Real Estate investing works.
5 Reply
Alicia MarksPro Member
OP
Fort Worth, TX · Member since 2020 · 1k+ posts · 2k+ votes
4y
Quote from @Schneur Sanowicz:

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

Also check out Dan Sheek's book "First to a Million" it's under the bookstore tab. It's geared for financial education for teens and young adults!
[email protected]Podcast Guest on Show #204
1 Reply
Alicia MarksPro Member
OP
Fort Worth, TX · Member since 2020 · 1k+ posts · 2k+ votes
4y
My why are my two kids and being able to be there for them. I had to start over at less than zero net worth after my divorce 5 years ago. I still had the same retirement goals, but no longer the substantial income I had helped support through relocating our family while my ex climbed the corporate ladder. Lots of strategic moves, working multiple jobs, and budgeting helped me get my footing. I'm on track to hit accredited investor status in 2 years. Not bad for starting behind the actual starting line five years ago!
[email protected]Podcast Guest on Show #204
4 Reply
Rahul Francis
Member since 2022 · 5 posts · 7 votes
4y
I'm tired of working so hard and having nothing to show for it. My entire family has had next to nothing, its time to change that and leave something behind when I'm gone.
6 Reply
Elijah Vo
Investor · Fort Worth, TX · Member since 2014 · 59 posts · 51 votes
4y
@Sender Brickman This is a huge one...especially in this day and age! I shocks me how many people don't understand inflation or how money works and they don't invest in hard assets.

@R.J. Lange Yup, I buy multifamily for long term income and invest in a friend's flips for short-term cash. Just started doing this, but so far it's a great strategy.

@Nathan Gesner Interesting...what's your charity?
2 Reply
Nathan GesnerBusiness Member
Moderator
Real Estate Broker · Cody, WY · Member since 2010 · 28k+ posts · 41k+ votes
4y
Quote from @Elijah Vo:

@Sender Brickman This is a huge one...especially in this day and age! I shocks me how many people don't understand inflation or how money works and they don't invest in hard assets.

@R.J. Lange Yup, I buy multifamily for long term income and invest in a friend's flips for short-term cash. Just started doing this, but so far it's a great strategy.

@Nathan Gesner Interesting...what's your charity?
My church is the bulk of it, but also Serenity Pregnancy Resource Center, YoungLife, Manna House Food Pantry, Compassion International, and then we always donate to one-time fundraisers that pop up. I also let my mom live in one of my apartments for free which is costing me about $10k a year!
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5 Reply
Andy WebbPro Member
Rental Property Investor · Carrollton, TX · Member since 2013 · 750 posts · 538 votes
4y
10 years ago, our primary "why" was creating the cash flow we needed to get my wife out of a horrid place in Corporate America; got that done in 3 years. Since then we have had our little guy come along - and he has become our new motivation. Giving him a great life that involves a ton of travel - we are constantly out and about showing him this great nation of ours in an RV (we find managing the rental empire from the road works just fine). I will be exiting Corporate America myself in March, so going all-in full-time as an investor with more fun on the road.
4 Reply
Veronica Ramirez
Member since 2022 · 3 posts · 5 votes
4y
I want to leave generation wealth and add to my retirement. I want to learn and explore all avenues of real estate. I want to enjoy family time and give quality time to my loved ones.
5 Reply
Heather Dickison
New to Real Estate · South Beloit, IL · Member since 2021 · 16 posts · 14 votes
4y
My "why" is to be able to move to California. We want to be able to wake up, go get coffee, and walk the pier without having to worry about going to work at a certain time or making someone else money.
6 Reply
Noelle B.
Investor · Patchogue, NY · Member since 2015 · 31 posts · 25 votes
4y
I love everything about real estate. It's how I want to spend my days. It's not even so much about the money. Once it clicked that real estate was something I was passionate about, it became less about how much I make, and more about creating a life where I can find/analyze/purchase deals and improve the assets I acquire. Cannot wait to learn more! Just getting started.
3 Reply
Account Closed
Rental Property Investor · Indianapolis, IN · Member since 2020 · 562 posts · 554 votes
4y
@Alicia Marks one word. FAMILY. It hasn’t changed and it never will!
5 Reply
Alex Gurvitz
Lender · Brooklyn, NY · Member since 2015 · 42 posts · 37 votes
4y
The answer is: "WHY NOT!?"
Making money creates wealth. Wealthy people prosper, and create jobs for others. Adding jobs improves the quality of a people's lives. A nation that has a lot of happy people, with a good quality of life is a Nation where people want to live, reproduce and prosper.
3 Reply
Pat BrownPro Member
Loganville, GA · Member since 2015 · 1 post · 3 votes
4y
1- Supplement my retirement income
2 - Share knowledge to help others
3 - Increase my Retirement Funds
3 Reply
Todd Rasmussen
Rental Property Investor · Clarksville, TN · Member since 2016 · 1k+ posts · 1k+ votes
4y
Originally posted by @Heather Dickison:
My "why" is to be able to move to California. We want to be able to wake up, go get coffee, and walk the pier without having to worry about going to work at a certain time or making someone else money.

We have plenty of homeless already living that dream!
2 Reply
Todd Rasmussen
Rental Property Investor · Clarksville, TN · Member since 2016 · 1k+ posts · 1k+ votes
4y
Time freedom to spend with family and generational wealth so they can stop worrying about work before we will.
1 Reply
Jennifer McPherson
Mead, CO · Member since 2016 · 65 posts · 60 votes
4y
Originally posted by @Bjorn Ahlblad:
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!

My husband and I both say the exact same thing! We do NOT want to be a greeter at Walmart! Not that there is anything wrong with that - we just don't want to have to!

3 Reply
Eric James
Investor · Malakoff, TX · Member since 2017 · 2k+ posts · 2k+ votes
4y
That's irrelevant.
0 Reply
Wesley MullenPro Member
Investor · Norman, OK · Member since 2021 · 56 posts · 21 votes
4y
@Alicia Marks
I was always curious about real estate investing, but I always associated it with the wealthy and never thought I could afford to do it. After my brother began to look into it more as a way to invest in passive income, we began to self-educate and I realized it was possible. It was going to be a vehicle towards building wealth, passive income, and eventually, lead to the financial freedom away from the 9-5. Thus, my main "Why" is the freedom of time and ability to build wealth long term. I want to be able to travel and spend my time as I wish instead of being stuck in the Corporate lifestyle where I'm allowed 3 weeks vacay. I want to be wealthy, not rich. And I want to pass my success down to future generations. This is my Why.
3 Reply

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