What has Real Estate Investing Done for You?

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Below are 10 realistic things Real Estate Investing has done for me both good and bad!

1. Allowed me to spend much more time with my family (this is a big one for me)

2. Allowed me to travel/vacation anywhere from 45 days a year up to 7 months when desired

3. Made me 2nd/3rd guess all of my assumptions about determining ARV's

4. Helped me learn all facets of construction

5. Made me enough money that allows me to live the lifestyle I choose

6. Made me much better at bookkeeping (try going into a tax return unprepared after completing 30-50 transactions a year.....NO BUENO)

7. Made me distrustful of any contractors wanting money up front unless I've used them multiple times before

8. Made me realize that unless you start with a truck load of money, great credit, lots of income and decades of relative experience you will need to work your butt off to be successful as a RE Investor

9. Allowed me to acquire assets that will assist with my retirement if I ever choose to retire. The good news is that once you get good at this there is no reason you cannot do it forever.

10. Sharpened my analytical abilities and negotiating skills.

#11(freebie) It has helped bring me to a more comfortable and content point in my life (as long as I do not have multiple flips going on at one time.... LOL)

There are so many more..... What has REI done for you or what do you want it to do for you?

REI has taught me valuable skills and elevated my relationship with my younger brother. We have worked on countless projects together and that's something I cherish.

It's provided my brother and his fiance a renovated home that decreased there cost of living. It's a launch pad for there future together. 

It's introduced me to new friends and people with similar goals. That's a powerful combination. 

Great post & question! 

1,2, 7-10 I can definitely agree with! So many things learned for me as RE was my first major entrepreneurial venture and I could've only grown from the experiences I had - good or bad. More than the financial aspect it has created, it has taught me a lot more lessons along the way that I know will be much more valuable in the long run. 

1) Allowed me to go in relatively blind into a deal and have the confidence that with my foundation I will make it work no matter what. I knew nothing when I made my first purchase, so I always remember the confidence that I gained from when I went through everything for the first time without knowing anything as a 22 year old newbie.

2) Given me the basic entrepreneurial experience & cash to expand to investing in other businesses. 

3) Has always been the backbone in my financial growth. Regardless of other business success or losses, REI has been the most consistent and largest contributor for me.

4) Taught me how to streamline my operations & manage my business more efficiently. I used to be on-site and hands on with my rentals, but over the years have streamlined to a point where I did all my business over the phone and a laptop. 

5) As a result of streamlined operations, I've been able to travel at will all over the world without worry about running down to one of my units. 

6) Improved my negotiation skills with the numerous deals that have closed, been rejected, fallen through, all the tough sellers/buyers and their emotions, terrible 3rd parties (agents, title companies, lenders, etc.), and all the layers of people you need to wrangle together to execute a completed transaction.

7) Taught me that no deal is ever done until closing, title conveyed, money transferred, and the keys exchanged. Too many times starting off I would get excited over a verbal agreement, a written purchase agreement, etc. only to have the deal fall through at numerous stages of the process (even the day before closing). 

8) I've learned to be a lot more understanding of my tenants and treat them with strict rules across the board but still in a friendly way so there is mutual respect. As a rental property owner, everything comes down to them, and instead of arguing about petty things I've learned how to work with them instead. Laying the groundrules from the onset of the relationship, being firm and strict with the terms with everyone, but still being compassionate. This has carried onto other aspects of business for me. 

9) Allowed me to happily quit my job without ever looking back :)