Real Estate Agent · Belmar, NJ · Member since 2017 · 370 posts · 200 votes
Hi All,
I know for a lot of people in the STR game, Cash flow, ROI, and W-2 freedom are the key focus, but I am curious what the bigger WHY is for folks outside of those things?
I am trying to narrow down my big whyoutside of just quitting my W-2 job for time freedom and financial independence so I was just curious what the rockstar STR investors on BP had determined in their own lives...
@Cody Z. So I am literally a complete noob but I ha like 3 I can think of
1.) I want to retire my mom, auntie, and make sure my family is good because I wouldn't have gotten anywhere without the help of everyone keeping me of the street and becoming a drug dealing statistic
2.) I want to become financially independent and successful to prove to myself that I know I can do it but it is a matter of drive, hard work, and consistency. I have alot of things I have come up with to make money but I know that real consistent wealth come from RE.
3.) I want to be a role model for my younger siblings. As stated above, I came from a terrible environment (Camden, NJ) and the last thing I want is for my younger brother a little sister is to become a statistic. I want them to know that it is possible and I will prove it.
4.) I kinda want a car collection 😅. Grow up I have always wanted to own Porche's, Lamborghini's, Ferrari's, McLaren's, and so on. I always would how I could get them and what it would be like to own them. Also, I kinda look up to Manny Khoshbin and to be better than him one day. He preach's to never give up no matter what!
I am still learning alot right now and it is slightly overwhelming (me being a noobie and all) but hard work pays of and consistency is key. I appreciate this question because I think about this all the time and would like to share my why. Thank you! 👍🏾
Rental Property Investor · Tennessee Florida · Member since 2016 · 4k+ posts · 5k+ votes
5y
I like being right. I like winning. I love it when I go into a new market and it takes months of getting my teeth kicked until I finally get something then next thing I know my system is functioning and the deals are coming.
I like being right. I like winning. I love it when I go into a new market and it takes months of getting my teeth kicked until I finally get something then next thing I know my system is functioning and the deals are coming.
Mind if I ask more about your system and what it entails? Trying to R&D (ripoff and duplicate) from the people currently winning, since I like that too.
Investor · Flowery Branch, GA · Member since 2019 · 413 posts · 412 votes
5y
I struggled with searching for my WHY as well. Best I can come up with is:
1. Having my first child later this year and I want to spend every waking moment with it.
2. I want to have F*** You money so no one can tell me what to do and when to do it. Whether it’s a lender, a friend, a family member, or the government. Don’t like how I live my life, no skin off my back. If I want to fly a rocket ship into space like Jeff Bezos, so be it. Invest in Dogecoin like Elon Musk, no worries.
Investor · Metro East of St. Louis (Illinois) · Member since 2016 · 255 posts · 211 votes
5y
@Cody Z.
Great question for this group!
I asked myself what I enjoy most in my life and what things drag me down. I like skiing a lot, I like going on long hunts in the wilderness, I like doing sports with my kids, I like going on multi-day dates with my wife. I'm also extremely competitive and like to do a hard thing, drop it, and then move on to another hard thing (enneagream 3...can't help it!)
Real Estate makes all those things possible. It obviously provides passive income, but it also has so many different facets in case I get bored with one and want to level-up!
I'm a pilot for my W-2 job, which lots of folks think is an awesome career. I've gotten to fly a lot of amazing jets, but any job that requires you to work X hours/week will start to feel like servitude.
I like being right. I like winning. I love it when I go into a new market and it takes months of getting my teeth kicked until I finally get something then next thing I know my system is functioning and the deals are coming.
You're a glutton for punishment! You like competition and a challenge - keeps things interesting. Have you read Winning by Tim Grover? I feel like it's right up your alley.
I struggled with searching for my WHY as well. Best I can come up with is:
1. Having my first child later this year and I want to spend every waking moment with it.
2. I want to have F*** You money so no one can tell me what to do and when to do it. Whether it’s a lender, a friend, a family member, or the government. Don’t like how I live my life, no skin off my back. If I want to fly a rocket ship into space like Jeff Bezos, so be it. Invest in Dogecoin like Elon Musk, no worries.
Both of your reasons resonate with me - Family being a priority is numero uno important to me and having the freedom to do what you please on a daily basis is the dream.
I asked myself what I enjoy most in my life and what things drag me down. I like skiing a lot, I like going on long hunts in the wilderness, I like doing sports with my kids, I like going on multi-day dates with my wife. I'm also extremely competitive and like to do a hard thing, drop it, and then move on to another hard thing (enneagream 3...can't help it!)
Real Estate makes all those things possible. It obviously provides passive income, but it also has so many different facets in case I get bored with one and want to level-up!
I'm a pilot for my W-2 job, which lots of folks think is an awesome career. I've gotten to fly a lot of amazing jets, but any job that requires you to work X hours/week will start to feel like servitude.
Why? FREEDOM to live and give to others.
Thanks, Alex!
I appreciate the insight and perspective - Sounds like you have a solid understanding of what is important to you and why you make the sacrifices that you do to be in Real Estate. I agree that any career does become servitude because, ultimately, at some point, you don't want to be at X for Y amount of time on a regular basis while life happens. Fortunately, we all have Real Estate to provide us with a copy/paste method of building wealth
@Cody Z. So I am literally a complete noob but I ha like 3 I can think of
1.) I want to retire my mom, auntie, and make sure my family is good because I wouldn't have gotten anywhere without the help of everyone keeping me of the street and becoming a drug dealing statistic
2.) I want to become financially independent and successful to prove to myself that I know I can do it but it is a matter of drive, hard work, and consistency. I have alot of things I have come up with to make money but I know that real consistent wealth come from RE.
3.) I want to be a role model for my younger siblings. As stated above, I came from a terrible environment (Camden, NJ) and the last thing I want is for my younger brother a little sister is to become a statistic. I want them to know that it is possible and I will prove it.
4.) I kinda want a car collection 😅. Grow up I have always wanted to own Porche's, Lamborghini's, Ferrari's, McLaren's, and so on. I always would how I could get them and what it would be like to own them. Also, I kinda look up to Manny Khoshbin and to be better than him one day. He preach's to never give up no matter what!
I am still learning alot right now and it is slightly overwhelming (me being a noobie and all) but hard work pays of and consistency is key. I appreciate this question because I think about this all the time and would like to share my why. Thank you! 👍🏾
Rental Property Investor · Rohnert Park, CA · Member since 2020 · 9 posts · 9 votes
5y
I don't make/work towards goals or accomplishments. I create checkpoints. When you reach your goals of "financial independence " or "wealth" people tend to lose motivation and become stagnant and thus regression sets in. By making checkpoints, I am always pushing to be better and progressing in the race of life.
Property Manager · NC · Member since 2020 · 23 posts · 17 votes
5y
@Cody Z. My “why” is because in life my goal is to be happy and stress free from a financial perspective. I am fairly content right now just barely starting out the journey of financial freedom but the stress is there.
In 10 years I imagine myself waking up every day in the little home I designed, painting in my art room, and tending to my garden.
If I had to work all day every day at the rate I was going, I wouldn’t have been on a path to achieve that.
It brings me peace of mind that I’m on track to meet my goals!
Real Estate Agent · Rowlett · Member since 2021 · 29 posts · 24 votes
5y
@Cody Z. I wouldn't call myself a rock star since I only have one STR at the moment, but my "why" is for my kids and travel. But not separately... put them together. Lol I want my kids tg travel the world because I never got to growing up. I want them to see the world so they will grow up with a global, and hopefully well-rounded and tolerant, perspective.
I know for a lot of people in the STR game, Cash flow, ROI, and W-2 freedom are the key focus, but I am curious what the bigger WHY is for folks outside of those things?
I am trying to narrow down my big whyoutside of just quitting my W-2 job for time freedom and financial independence so I was just curious what the rockstar STR investors on BP had determined in their own lives...
Looking forward to everyone's responses 😃
I enjoy work
I’ve always worked 60 - 100 hours a week
Now I’m older and I retired years ago
I have a number in mind I want to make in net profit this year flipping
I want to double it next year
I don’t really care about the money as I don’t like spending it Just setting goals and hitting them is fun for me
@Cody Z. So I am literally a complete noob but I ha like 3 I can think of
1.) I want to retire my mom, auntie, and make sure my family is good because I wouldn't have gotten anywhere without the help of everyone keeping me of the street and becoming a drug dealing statistic
2.) I want to become financially independent and successful to prove to myself that I know I can do it but it is a matter of drive, hard work, and consistency. I have alot of things I have come up with to make money but I know that real consistent wealth come from RE.
3.) I want to be a role model for my younger siblings. As stated above, I came from a terrible environment (Camden, NJ) and the last thing I want is for my younger brother a little sister is to become a statistic. I want them to know that it is possible and I will prove it.
4.) I kinda want a car collection 😅. Grow up I have always wanted to own Porche's, Lamborghini's, Ferrari's, McLaren's, and so on. I always would how I could get them and what it would be like to own them. Also, I kinda look up to Manny Khoshbin and to be better than him one day. He preach's to never give up no matter what!
I am still learning alot right now and it is slightly overwhelming (me being a noobie and all) but hard work pays of and consistency is key. I appreciate this question because I think about this all the time and would like to share my why. Thank you! 👍🏾
Hey Devon, that's a great attitude and mindset to have - write these down and reference them when things get tough. It will be invaluable to have them handy!
I don't make/work towards goals or accomplishments. I create checkpoints. When you reach your goals of "financial independence " or "wealth" people tend to lose motivation and become stagnant and thus regression sets in. By making checkpoints, I am always pushing to be better and progressing in the race of life.
This was pretty cool - I think I might steal it 😇. What does your race look like so far?
@Cody Z. My “why” is because in life my goal is to be happy and stress free from a financial perspective. I am fairly content right now just barely starting out the journey of financial freedom but the stress is there.
In 10 years I imagine myself waking up every day in the little home I designed, painting in my art room, and tending to my garden.
If I had to work all day every day at the rate I was going, I wouldn’t have been on a path to achieve that.
It brings me peace of mind that I’m on track to meet my goals!
Sounds very peaceful - I think one thing that I've realized is their needs to be some "harmony" or quiet time in your life on a daily basis - otherwise you just get caught in the whirlwind of the day.
Great goal! STR is the vehicle or were you thinking something else?