One of the main reasons I wanted to get into real estate investing is that it’s fun. Yes, there are of course some negative aspects but for the most part I find real estate investing to be enjoyable. Sure, there is the money and flexible schedule, but even with those if there was not some enjoyment to real estate investing I’m not sure it would be worth it. What makes it fun for me? Here are five items.
1.) Looking at Properties – I enjoy going out and looking at properties. It’s like you get to peer into people’s lives. Even if the properties are vacant and run down it is still neat to do. You get to see some of the truly funky things people do or have done to their homes. You also get to evaluate what you would do if you purchase the property. Plus, you never know what you will see at your next property.
2.) Analyzing the Deal – After looking, I like to analyze the potential deal. What can I get in rents? How much fix-up does it need? How should I fix it up? Does this property make sense for me? Sure, I have a basic answer to these questions right after I visit the property, but putting it in a spreadsheet helps me collect my thoughts and puts it all together.
Start analyzing your own deals – the right way – with the new BiggerPockets Fix and Flip Analysis and Reporting Tool. Try it out today!
3.) Working the Deal – Many may cringe at this one. Honestly when I first started out I did as well. But now it is fun to make an offer and see what sticks. Plus, it gives you the opportunity to be creative. Maybe you can work out some soft terms. Perhaps you can include the boat or car in the trade. If there is one thing I have learned about real estate investing, everything is negotiable and that is part of the fun (and challenge).
4.) Fixing Up Properties and the Neighborhood – I really like taking an old, worn out building and breathing new life into it. Especially since I tend to work in an historic area. It is fun to go by everyday and see your contractors bringing everything together, even if you run into unexpected problems it is fun trying to solve them. It is even better to stand back and look at the finished product. There is a lot of fun and satisfaction here.
5.) Hearing “I Love Living Here.” – It is enjoyable to provide someone a good home, especially someone who appreciates it. Sort of makes the bad parts of this business worthwhile.
I should add another one, I like sharing my knowledge. I have the heart of a teacher and that is why I write these articles. What is on your list?
What makes real estate investing fun for you?