What is your WHY ?!?!?

[Account Closed]

I have a question for all of you BPers

I am an active buy and hold investor and some months I ask myself why am I doing this again?

I believe I do this because I do not have a clearly defined WHY to look to during those not so smooth times.  That being said I am working to create a perfect WHY for me.  I figured while I work on it I could hear from you all on your WHY.

WHY do you or do you want to invest in real estate?

[Thomas S.]

Money. Doesn't matter what other goal anyone may have in mind it will always boil down to money.

Quit their job...money. Independence......money. Freedom....money. Travel.....money

To confirm that ask who would do it if there was no money to be made.

Why did they get into real estate investing...probably because they thought it was easy.

[Jeffery Waicak]

I did poor in school 

I was looked down on by other kids because of my clothes, shoes etc.

I failed at re once and was laughed at. 

 I disagree with the plan of working 40 years to have a meager retirement 

I believe in all the self help ra ra crap,it is all mental 

I believe the biggest risk is not taking a risk

 I really like re and business. I'd rather meet Warren Buffett than Tom Brady 

But I think the 2 big why's at this time are

1 to show a young punk kid( the me of 20+ years ago) that it can be done.

 2 I want to see what i can create, and who I can help along the way.

  I appreciate you posting. I hadn't really thought about it in a while 

[Levi T.]

[Cody L.]

1) I love it
2) building equity
3) cash flow
4) pride in building my portfolio
5) I'd be bored at this point if I just stopped and lived off my current holdings

[Daniel Hyman]

I'm a self-employed CPA. I believe in an honest days work for an honest days pay. But at the end of the day, it sure would be nice to leave something for my kids. Unless they decide to become accountants themselves, there's not much in terms of assets that they would be left with. After all, who knows what the value of this service-based business will be in a few decades? Real estate, however, allows for ongoing cash flow, appreciation, and the thrill of putting together a deal! Truly a gift that keeps on giving.

[Account Closed]

Thomas S. it's more about why do you want the money but I understand your point of view . The more money you acquire the more you realize money isn't the real why.

[Aneury Evangelista]

Time and money. I've started down this path because I need a way to obtain financial freedom, and RE makes the most sense. I seek to obtain freedom to support my family financially, and the ability to spend as much time as possible with my daughter. I've just started, but I'm working my way towards that goal.

[David Dachtera]

Between a divorce, job loss and the economy, I lost everything I had back in the 2009 / 2010 time frame. I am rebuilding my retirement.

[Jerry W.]

The first property that I bought that was not intended for a primary residence, was just an investment.  It was a chance to to use a little money, and a little work, and secure a long term investment that would provide future financial security.  When we began buying more properties it was to provide a more substantial chunk of money for future retirement.  At some point it changed and became both a possible stream of income to replace the day job, and the possibility of family business that could free future generations from being tied to the day job for basic survival.  I don't want to replace them having to work, but provide an opportunity if they choose to participate.  After awhile it becomes it's own lure.  The fun of hunting for a deal, figuring out how to pay for it, then the plan and work to turn it into a producing rental, then adding it into the stable before heading out to look for another prospect.

[Account Closed]

Lots of good answers . Money is the vehicle but the why's are more deep. Financial freedom seems to be the theme but as I am finding out sometimes you need to know what you plan on doing with that freedom .

[Damarius Gilbert]

to provide a better life for my family and I'm tired of risking my life in third world countries.

[Linda S.]

@Account Closed,

Money is absolutely reason #1-- for everyone here who treats it as a business.

#2.  The softer, feel good reason I love it is because we focus on low income areas... we're making Petersburg better, improving neighborhoods, giving people significantly higher quality of living, it's very rewarding to give someone a home.   Our saying is that  "we create homes, not houses."

#3.  Fun!  I love the design aspect, between the layout,  taking down walls,  moving things around to optimize functionality is great!   I love picking materials, and designing the theme/vibe of the home.    A lot of people have told us "just change carpet and paint"... but the reality is, people love a well designed place, and they love aesthetics!   

[Andrew Johnson]

Bryant Schur Basically, money, in the form of a relatively inflation adjustment return. And it gives people more of a sense of control over their asset. Otherwise, why not just stick your money in a REIT? Maybe high-dividend stocks? You could get to a version of financial freedom doing that.

I know there are a ton of real estate advantages but I think some of it is the emotional sense of ownership. And for that you get better upside potential and greater risk (like pesky full-recourse loans).

If it was "pride" or "bragging rights" I might still own real estate but it would be vacation rentals! It's way more fun to brag about a "condo in Aspen" than a 5-plex in the Midwest.

On a personal level, a lot of the "why" is tax advantages...

That's just not as fun to talk about 🤷🏻‍♂️

[Owen Dashner]

I do it for two main reasons:

1. I want to fulfill my potential, or at least see how close I can come.  This is something that I have felt for a long time now, but never really knew how to put into words.  I know that I will never be fulfilled doing a job for a paycheck.  Real estate offers almost limitless possibilities for success.

2. Every single day I wake up, there is the chance that I could find a deal that could make $40,000 or more!  Two weeks ago I bought a property on Monday for $115K, and wholetailed it for $162K on Friday.  I didn't even have to mow the lawn and netted almost $40K after commissions and closing costs.  If that doesn't get you excited about your day, nothing will!

[Caleb Heimsoth]

Second income, flexibility to travel more, financial freedom, love doing it. You get the idea

[Christopher Blanco]

To control my time. Right now my employer controls my time and in exchange pays me a good salary. I want to control my own time so that I can do more things I that love with the people I love. 

[Account Closed]

I got into this because the likelihood of my finding another job doing what I do is slim to none.  I spent about 2 years looking for the job I currently have.  I have former colleagues that are in the same boat - one I'm particularly worried about that is in very bad health and doesn't have many options aside from his wife supporting him (and unemployment).

Currently, this is my "pension plan".  When I lose my current day job, it will more than likely end up being my full time business.  

[Sarah D.]

So I don't have to sit in meetings anymore (like the one I'm in now, which I'm clearly 100% engaged in).  

[Ryan Conrad]

My why is to create enough passive income so that myself and my soon to be wife don't have to work. I'd also like to be successful enough to be featured on the Bigger Pockets podcast one day. ;)

[Christopher Blanco]

I am in meetings now too, @Sarah D.  Fun!

[JD Martin]

Originally posted by @Sarah D.:

So I don't have to sit in meetings anymore (like the one I'm in now, which I'm clearly 100% engaged in).  

 :D  LOL. Made my afternoon!

[Account Closed]

Linda D. I get that it's about money but as my business has become larger and I don't outspend my current cashflow (and I am not cheap!?). I started to realize I need more of a why than just money.

What are you doing with the free time and money that's the real why.

[Tim Knabe]

The main why for me is because I would do it for free. It is not like work if you love what you do. So many "whys"....I do not answer to a boss, I set my schedule around my kids instead of the other way around, my commute is approximately 60 yards, I never have to drive in rush hour unless I really want to....I probably work a lot more hours than the average guy, but it is enjoyable work and I can choose when for the most part....  I do not have many rentals "why?" because I do not enjoy rentals. I prefer notes, less work, less headache etc. Property managers are nice to make things a little more stress free, but then you stress about how much they are costing you and how ridiculous maintenance costs are when handled by someone else.  The gig definitely comes with its ups and down and stressful moments but overall it is pretty easy.

[Mike DeChristopher]

I figured out a while ago that I'm not necessarily interested in the money; the money is a byproduct of what I really enjoy: success.

Many in my generation grew up playing video games, a pastime they were not paid for but did every day anyway. It's because winning at something is addictive, and I find myself approaching any business the same way.

The money is just your current score, but the competition is fierce and unrelenting. 

[Linda S.]

@Account Closed,

I  think the answer is the same for everyone here-- for financial freedom!   Whether it's for security for family, travel,  or anything.. income gives you the flexibility to have your money work for you.   

  I really do think it's fun though, and I absolutely love designing, so this is kind of what I do in my free time now!  Even after we get enough rentals to quit our regular jobs, I can't imagine stopping because it's fun and fulfilling!