What's your WHY?

[Priscilla Z.]

After being in this business for almost 15 years I see things very differently than I did at the beginning.  I began wanting to be a flipper when Flip This House was the only show around to watch about house flipping.  I've gone through a lot of strategies, from flipping to wholesaling to rentals, lease options, owner financing, buy and hold land and all the ups and downs that come with each strategy.... but something that I've learned through it all is that you can know all the strategies and implement them and be successful at it, but usually there's something deeper that's driving you....and that's your WHY.  Why are you doing this?  I'm curious to know, whether you are just starting or are a seasoned investor...what's YOUR why?

I'll start...

My why has evolved throughout the years, so here goes...

In the beginning ..... I wanted to create a business that allowed me to use my time however I wanted, that would allow me to work from home when I had kids, that was 15 years ago.  - I now have two little girls I homeschool and I am still able to participate in our business while being home with them.

Then....I wanted to provide a home for our parents (mine and my husbands') to live in so that one of their basic needs can be covered, that was 7 years ago. - With a grateful heart I can say we have been able to do this as well.

Now....I want to help inspire others to reach their goals and dreams.  I've been inspired by so many people throughout these 15 years that have helped me to get to where I am today, I now want to give back.  It's not just about the science of achievement, it's about the art of fulfillment as well (we can talk about this one in another post :)

That's it for me...I hope I've made you think about, or remember your WHY....

Now....YOUR TURN!

[Jay Hinrichs]

I think this comes in two flavors  one those that worked a 9 to 5 for someone else and want to be self employed .

and then those of us that have never worked for someone else..  ( which is me since I left my bagging groceries job at 18 when i got my RE license.)

So for me there was only one reason to be in real estate and that was to afford shelter cloths and food and have a decent home to raise my children.

the by product of this was being truly self employed at such an early age and realizing that I needed to handle my own health insurance and save for tax's and many other things that being a W 2 folks dont think of.. you know vacations cost us big time in RE sales in lost revenue and then the cost of the vacation.

However for me I grew to like it a lot.. RE sales are generally a late afternoon early evening gig and weekends so every week day up to about 2pm was basically free time for me.  But I worked every weekend save the big holidays.. Its a must to be a top producer when your starting out.

Also the education you get being on your own was very good.. Learned all sorts of different bizz things just networking and from clients of mine .. And was able to leverage all those clients and networking into some pretty successful business's by the time I had 10 years into it..

Retirement IE do nothing but collect mail box money has ZERO interest to me.. I like to be doing deals and I find being Money partner is a great fit for that.

Rentals while I have some  of those are not really anything I particularly care for but understand that most folks who don't have a real estate background rentals is their ticket to long term wealth..

A few years ago I started a Charity calls aherohome.org  with some other BP members and with BP managements help we achieved our goal of giving away a home in Memphis to a first responder that was quite rewarding. But it also taught me Charity ( raising money for Charity) is actually quite hard.

And along the way my why for the last 20 plus years is to fund deals for up and coming RE rock stars like @Engelo Rumora Who is one of my Favorites and fantastic success story.. I mean he came from another country with not much more than a will to succeed and a drive and work ethic and he has captured the RE dream.. 

[Bob S.]

Quote from @Priscilla Z.:

After being in this business for almost 15 years I see things very differently than I did at the beginning.  I began wanting to be a flipper when Flip This House was the only show around to watch about house flipping.  I've gone through a lot of strategies, from flipping to wholesaling to rentals, lease options, owner financing, buy and hold land and all the ups and downs that come with each strategy.... but something that I've learned through it all is that you can know all the strategies and implement them and be successful at it, but usually there's something deeper that's driving you....and that's your WHY.  Why are you doing this?  I'm curious to know, whether you are just starting or are a seasoned investor...what's YOUR why?

I'll start...

My why has evolved throughout the years, so here goes...

In the beginning ..... I wanted to create a business that allowed me to use my time however I wanted, that would allow me to work from home when I had kids, that was 15 years ago.  - I now have two little girls I homeschool and I am still able to participate in our business while being home with them.

Then....I wanted to provide a home for our parents (mine and my husbands') to live in so that one of their basic needs can be covered, that was 7 years ago. - With a grateful heart I can say we have been able to do this as well.

Now....I want to help inspire others to reach their goals and dreams.  I've been inspired by so many people throughout these 15 years that have helped me to get to where I am today, I now want to give back.  It's not just about the science of achievement, it's about the art of fulfillment as well (we can talk about this one in another post :)

That's it for me...I hope I've made you think about, or remember your WHY....

Now....YOUR TURN!

 Simple, my why is freedom and giving back, 

[Karl B.]

Freedom - time-wise and financially. I also look forward to the day when the short term rehab stress subsides to once in a blue moon. :-)

[Priscilla Z.]

Love it!  Thanks for responding guys! :)

[Shannon Smith]

Hey @Priscilla Z.!  For me, initially it was that I wanted to be my own boss. After years of getting my Bachelor's in order to "get a good job," it turned out that I didn't really like working for other people. LOL details.  2 of the 3 companies that I worked for went through buy outs while I was employed by them and the stress of job security drove me crazy. Now that my husband and I have 3 girls, I am like you in that the time and money freedom allow me to be a really present mom. I'm considering homeschooling my girls next year and I feel fortunate to have the ability to even have that option.  Like you, I have also been able to provide my parents with a home-- My personal house has a full live in basement with full kitchen, dining room, living room, master/master bath and half bathroom with a separate entrance.  My intent for purchasing it was to eliminate their mortgage/bills so that my dad could retire. We purchased this home Aug 2020 and by Aug 2023, my Dad will turn 65 and he'll be able to retire.

[Lane Aakhus]

Financial and time freedom.  Specifically, I want to replace my W2 income so that my wife and I can split our time between Hawaii and Japan anytime we choose.  We have family and ambitions in both locations but I feel tied to work commitments at my W2 in Hawaii.  Newer RE investor but optimistic that we can scale quickly with a little traction.

[Tommy Parker]

Love this question! Hearing everyone's answers is always motivating. Main throughline, Financial Freedom. 

For me, I wanted to create generational wealth for my family. I really hated the 9-5 lifestyle and couldn't imagine being held to that way of life (nothing wrong with others who are in that situation btw). The freedom and learning that I constantly get from doing this have given me hope every day that I get up. 

[Mose Gebremeskel]

My why is to have freedom with my time and freedom financially. I want to be there for my family more and want to also provide for them. 

[Priscilla Z.]

Quote from @Shannon Smith:

Hey @Priscilla Z.!  For me, initially it was that I wanted to be my own boss. After years of getting my Bachelor's in order to "get a good job," it turned out that I didn't really like working for other people. LOL details.  2 of the 3 companies that I worked for went through buy outs while I was employed by them and the stress of job security drove me crazy. Now that my husband and I have 3 girls, I am like you in that the time and money freedom allow me to be a really present mom. I'm considering homeschooling my girls next year and I feel fortunate to have the ability to even have that option.  Like you, I have also been able to provide my parents with a home-- My personal house has a full live in basement with full kitchen, dining room, living room, master/master bath and half bathroom with a separate entrance.  My intent for purchasing it was to eliminate their mortgage/bills so that my dad could retire. We purchased this home Aug 2020 and by Aug 2023, my Dad will turn 65 and he'll be able to retire.

 So inspiring Shannon.  Thanks for sharing your details!  I'm a details girl so I love reading your story.  I have to be honest, I was hesitant to homeschool at first, and then realized how present I truly could be and it's amazing.  Plus, it gives our girls the opportunity to watch us work for what we have, and that's a huge life lesson in itself.  It's amazing that you are able to provide a home for your parents and you could help your dad reach retirement.  Enjoy every second of it with them.  I lost my dad suddenly and unexpectedly almost a year ago, so I wasn't able to gift it to him, but I am able to gift it to my mom, which is priceless to me.

Thanks for sharing!

[Priscilla Z.]

Quote from @Lane Aakhus:

Financial and time freedom.  Specifically, I want to replace my W2 income so that my wife and I can split our time between Hawaii and Japan anytime we choose.  We have family and ambitions in both locations but I feel tied to work commitments at my W2 in Hawaii.  Newer RE investor but optimistic that we can scale quickly with a little traction.

 I LOVE IT!!!  Especially the splitting your time between two locations! That's one of our future goals as well. Since you are a newer investor....one piece of advice....when times get tough in this business, and they will, revisit your why.  It'll keep you going.

[Priscilla Z.]

Quote from @Tommy Parker:

Love this question! Hearing everyone's answers is always motivating. Main throughline, Financial Freedom. 

For me, I wanted to create generational wealth for my family. I really hated the 9-5 lifestyle and couldn't imagine being held to that way of life (nothing wrong with others who are in that situation btw). The freedom and learning that I constantly get from doing this have given me hope every day that I get up. 

 Great energy Tommy, I love it!  That's a very very strong why....being your own boss and managing YOUR time however YOU want.  I get it!!!

[Priscilla Z.]

Quote from @Mose Gebremeskel:

My why is to have freedom with my time and freedom financially. I want to be there for my family more and want to also provide for them. 

 Seems like we share the same why....and it seems like it's most people's why, family and providing for them.  Thank you for sharing!

[Jay Hinrichs]

I think this comes in two flavors  one those that worked a 9 to 5 for someone else and want to be self employed .

and then those of us that have never worked for someone else..  ( which is me since I left my bagging groceries job at 18 when i got my RE license.)

So for me there was only one reason to be in real estate and that was to afford shelter cloths and food and have a decent home to raise my children.

the by product of this was being truly self employed at such an early age and realizing that I needed to handle my own health insurance and save for tax's and many other things that being a W 2 folks dont think of.. you know vacations cost us big time in RE sales in lost revenue and then the cost of the vacation.

However for me I grew to like it a lot.. RE sales are generally a late afternoon early evening gig and weekends so every week day up to about 2pm was basically free time for me.  But I worked every weekend save the big holidays.. Its a must to be a top producer when your starting out.

Also the education you get being on your own was very good.. Learned all sorts of different bizz things just networking and from clients of mine .. And was able to leverage all those clients and networking into some pretty successful business's by the time I had 10 years into it..

Retirement IE do nothing but collect mail box money has ZERO interest to me.. I like to be doing deals and I find being Money partner is a great fit for that.

Rentals while I have some  of those are not really anything I particularly care for but understand that most folks who don't have a real estate background rentals is their ticket to long term wealth..

A few years ago I started a Charity calls aherohome.org  with some other BP members and with BP managements help we achieved our goal of giving away a home in Memphis to a first responder that was quite rewarding. But it also taught me Charity ( raising money for Charity) is actually quite hard.

And along the way my why for the last 20 plus years is to fund deals for up and coming RE rock stars like @Engelo Rumora Who is one of my Favorites and fantastic success story.. I mean he came from another country with not much more than a will to succeed and a drive and work ethic and he has captured the RE dream.. 

[Eric James]

I'm a man. Men produce value.

[Engelo Rumora]

Quote from @Jay Hinrichs:

I think this comes in two flavors  one those that worked a 9 to 5 for someone else and want to be self employed .

and then those of us that have never worked for someone else..  ( which is me since I left my bagging groceries job at 18 when i got my RE license.)

So for me there was only one reason to be in real estate and that was to afford shelter cloths and food and have a decent home to raise my children.

the by product of this was being truly self employed at such an early age and realizing that I needed to handle my own health insurance and save for tax's and many other things that being a W 2 folks dont think of.. you know vacations cost us big time in RE sales in lost revenue and then the cost of the vacation.

However for me I grew to like it a lot.. RE sales are generally a late afternoon early evening gig and weekends so every week day up to about 2pm was basically free time for me.  But I worked every weekend save the big holidays.. Its a must to be a top producer when your starting out.

Also the education you get being on your own was very good.. Learned all sorts of different bizz things just networking and from clients of mine .. And was able to leverage all those clients and networking into some pretty successful business's by the time I had 10 years into it..

Retirement IE do nothing but collect mail box money has ZERO interest to me.. I like to be doing deals and I find being Money partner is a great fit for that.

Rentals while I have some  of those are not really anything I particularly care for but understand that most folks who don't have a real estate background rentals is their ticket to long term wealth..

A few years ago I started a Charity calls aherohome.org  with some other BP members and with BP managements help we achieved our goal of giving away a home in Memphis to a first responder that was quite rewarding. But it also taught me Charity ( raising money for Charity) is actually quite hard.

And along the way my why for the last 20 plus years is to fund deals for up and coming RE rock stars like @Engelo Rumora Who is one of my Favorites and fantastic success story.. I mean he came from another country with not much more than a will to succeed and a drive and work ethic and he has captured the RE dream.. 

Thanks for the mention Jay

You're a great man and it's an honor knowing you 🙏

For many years my why was to prove others wrong.

Having quit school at a young age and being bullied for most of my childhood I had a chip on my shoulder. 

Being older and wiser and without anything to prove anymore it's all about my loved one's.

I'm blessed with a "knack" of spotting winners (And loosers sometimes hehe) so I do what I do to provide for the folks that made me who I am today.

Family first and then everyone else in my close circle.

And off course I have an expensive hobby of smoking 5 cigars a day so I need some cheese to support my only vice hehe

[Lane Aakhus]

Quote from @Priscilla Z.:

Quote from @Lane Aakhus:

Financial and time freedom.  Specifically, I want to replace my W2 income so that my wife and I can split our time between Hawaii and Japan anytime we choose.  We have family and ambitions in both locations but I feel tied to work commitments at my W2 in Hawaii.  Newer RE investor but optimistic that we can scale quickly with a little traction.

 I LOVE IT!!!  Especially the splitting your time between two locations! That's one of our future goals as well. Since you are a newer investor....one piece of advice....when times get tough in this business, and they will, revisit your why.  It'll keep you going.

 Solid advice, Priscilla.  Thank you!

[Carlos Ptriawan]

Quote from @Priscilla Z.:

After being in this business for almost 15 years I see things very differently than I did at the beginning.  I began wanting to be a flipper when Flip This House was the only show around to watch about house flipping.  I've gone through a lot of strategies, from flipping to wholesaling to rentals, lease options, owner financing, buy and hold land and all the ups and downs that come with each strategy.... but something that I've learned through it all is that you can know all the strategies and implement them and be successful at it, but usually there's something deeper that's driving you....and that's your WHY.  Why are you doing this?  I'm curious to know, whether you are just starting or are a seasoned investor...what's YOUR why?

I'll start...

My why has evolved throughout the years, so here goes...

In the beginning ..... I wanted to create a business that allowed me to use my time however I wanted, that would allow me to work from home when I had kids, that was 15 years ago.  - I now have two little girls I homeschool and I am still able to participate in our business while being home with them.

Then....I wanted to provide a home for our parents (mine and my husbands') to live in so that one of their basic needs can be covered, that was 7 years ago. - With a grateful heart I can say we have been able to do this as well.

Now....I want to help inspire others to reach their goals and dreams.  I've been inspired by so many people throughout these 15 years that have helped me to get to where I am today, I now want to give back.  It's not just about the science of achievement, it's about the art of fulfillment as well (we can talk about this one in another post :)

That's it for me...I hope I've made you think about, or remember your WHY....

Now....YOUR TURN!

 family business......

my spouse is more aggressive than me to acquire property, while I am more into investing-anything-that-appreciates-and-has-dividend person..

[Jason Sutton]

Being new to the BP forums, reading everyone's response has been inspiring!  

For me, the "Why" is the financial freedom on a very basic level but like @Tommy Parker mentioned, it is also about building generational wealth for my family and to pass down to my two boys. Having come from a family that was not so well off and where money was not properly managed, I have made it a goal to not make those same mistakes and place a high value on financial IQ.

[Jeff S.]

@Priscilla Z. great question and great responses. At my age I like to say to younger people that you don't want to have to work when you are 70. Work because I want to not because I had to was my why. 

[John Morgan]

To collect mailbox $ while I nap, and to diversify a little in case the stock market tanks when I’m retired.

[Alecia Loveless]

@Priscilla Z. Fresh from college I owned my own business, a bed and breakfast, and then a second one, which I did for 24 years. Along the way my accountant who was also my financial advisor never told me I needed to be saving for retirement and I was naively thinking selling the B&B would provide enough to retire on.

Eventually during those 24 years the cost of my partner and my health insurance got to be $1400 a month and I took a full time job to get health care coverage for us as well as some other benefits.

Fast forward to 3 years ago after we’d long since divorced and I sold the B&B and I realized I didn’t have enough money for anything and I realized I had to do something else to make money because my job paid very little and running a B&B didn’t prepare me with skills to do anything.

So I started buying real estate with the proceeds from the sale. Today I have 6 properties and 20 doors and am going strong. My goal is to have 50 doors by the time I turn 50 in three years so I can quit my W-2 on my 50th birthday.

I was working a part time job too for a total of 60 hours a week which I’ve just quit to have the extra time to focus more on my real estate. I’ve got two more Saturdays left to work there and I’m so excited I’m almost done.

[Priscilla Z.]

Thanks to everyone for sharing your why....I love hearing other people's perspectives, it totally opens my mind to new things I can include as my why as well!