The Awakening Stage
Question to everyone: When was it and how that you came to the realization that investing in real estate could help you get "out of the rat race" ? Was it an infomercial? A family member? Tired of working a 9-5 and just searched out the answer? Maybe the answers will be more motivation for us newbies. :superman:
Good question Rita.
For me it began out of necessity. I needed a place to live but didn’t want to continue renting. So I bought a “fixer’ and put in my own sweat equity. Not only was it a great experience, it turned into a profitable one. I also found that I enjoyed rehabbing. I had also been working as a financial planner and dealt with quite a few wealthy people. I found that most of them obtained their wealth in one of three ways:
1- They inherited it – not an option for me.
2- They started a successful business and grew their wealth over many
years – also not what I was looking to do.
3- Created wealth through some form of real estate investing – Bingo!
Real estate is one of several things that I am involved in, but I’ve been out of the rat race for many years.
8)
One of my favorite questions.
When I was working at a title company this guy would come in every day, pick up checks and pick up more work. I found out he was buying mutiple properties per day. This blew my mind. He happened to be a younger guy who lost his butt on his first deal and worked fo a very sophisticated investor.
After a few days of constantly bombarding him with quesitions, I was hooked.
Hi Rita,
I'm not out of the rat race yet, but the thing that got me to jump into the business was when I was a volunteer at a state prison in WA, teaching a class on life skills. I decided to look for a house that could be used by recently released offenders as a sort of combination halfway house and vocational re-entry point. I found a house that was willing to sell to me on CD, but I was really sticking my neck out. Long story. :violin: It all worked out in the end due to the values skyrocketing - My dream to help the guys failed, but I turned it into a rental and sold it five years later for a good profit. Moral of the story: Sometimes it takes your passion for a cause bigger than yourself to get you to overcome the fear that can hold you back. Mike
I always wanted to own my own business and didn't "discover" real estate until I checked out a book at the library. Before that I came very close to purchasing a dry cleaning franchise, a carpet cleaning franchise and a lawn care franchise.
Luckily when I read my first few real estate books, I realized anyone could do this business and everything about investing in real estate made so much....so I knew it was for me.
Originally posted by "Primo_Coach":
I always wanted to own my own business and didn't "discover" real estate until I checked out a book at the library. Before that I came very close to purchasing a dry cleaning franchise, a carpet cleaning franchise and a lawn care franchise.Luckily when I read my first few real estate books, I realized anyone could do this business and everything about investing in real estate made so much....so I knew it was for me.
Could you imagine opening a service oriented business? You would be doing just that.... servicing. So maybe in the back of your head you knew that there was something much much better. :wink: