Is Real Estate your passion ? Or is it fueling your passion ?

New to Real Estate · New York, NY · Member since 2018 · 13 posts · 8 votes

How many of you actually love doing Real Estate for the benefits it provide and who actually is doing it because they have a passion and its helping that ?? #curious

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Amy KendallBusiness Member

Real Estate Broker · Lehi, UT · Member since 2016 · 397 posts · 318 votes

Real estate investing and being an agent is absolutely my passion and I love being able to make a career out of it. I was working as a nurse and respiratory therapist before beginning to invest in real estate and then becoming an agent made sense, and it has been such a great change! My husband is probably on the other side of this in that he does like the investing, but it is more as a way of escaping the rat race. He recently moved down to part time and is enjoying the freedom the comes along with that!

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Account Closed
Flipper/Rehabber · Cincinnati, OH · Member since 2020 · 300 posts · 417 votes
6y
This is a fun question! Real Estate is not my passion as much as it is a source of income to fuel my other passions (creative endeavors, financial freedom, more freedom to travel, etc.). That being said, I do think that Real Estate is a fascinating field, so I enjoy many aspects of it, and it's not entirely a means that must be tolerated to reach an end. I especially love the flipping and rehabbing and flip-and-fix side of things.

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Amy KendallBusiness Member
Real Estate Broker · Lehi, UT · Member since 2016 · 397 posts · 318 votes
6y
Real estate investing and being an agent is absolutely my passion and I love being able to make a career out of it. I was working as a nurse and respiratory therapist before beginning to invest in real estate and then becoming an agent made sense, and it has been such a great change! My husband is probably on the other side of this in that he does like the investing, but it is more as a way of escaping the rat race. He recently moved down to part time and is enjoying the freedom the comes along with that!
6 Reply
Timothy J. Cudjoe
OP
New to Real Estate · New York, NY · Member since 2018 · 13 posts · 8 votes
6y
Great replies, I'd have to say since I started in this field I've caught myself being stuck in two minds, Of loving the idea of passive income and the awesome ways that real estate can create and spark that. My passion has always been revolved around traveling to European countries and visiting the many iconic soccer venues of the World. Thus although its not a reason to slack and go after things because sometimes I find myself not being motivated enough to complete task in Real Estate.
2 Reply
Taylor L.
Rental Property Investor · RVA · Member since 2016 · 5k+ posts · 4k+ votes
6y
Originally posted by @Timothy J. Cudjoe:
Great replies, I'd have to say since I started in this field I've caught myself being stuck in two minds, Of loving the idea of passive income and the awesome ways that real estate can create and spark that. My passion has always been revolved around traveling to European countries and visiting the many iconic soccer venues of the World. Thus although its not a reason to slack and go after things because sometimes I find myself not being motivated enough to complete task in Real Estate.

Commitment and passion are not exactly the same. Success in real estate requires commitment. You have to be so committed to achieving your outcome that you're willing to do the daily tasks required to meet your goal. If you don't know those daily tasks, then you may need to read more strategy or hire a coach.
3 Reply
Daniel Haberkost
Rental Property Investor · Colorado Springs, CO · Member since 2018 · 682 posts · 729 votes
6y
Originally posted by @Timothy J. Cudjoe:
How many of you actually love doing Real Estate for the benefits it provide and who actually is doing it because they have a passion and its helping that ?? #curious

Personally, I'd say I'm passionate about real estate because of how quickly it has allowed me freedom over my time. I'm not actually that interested in doing deals or managing tenants (although it's far more enjoyable than other work I've done). However, I am passionate about climbing mountains/snowboarding/mountain biking among other things and because of real estate I'm able to do these things on my schedule. So it's really just a means to an end for me.
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Jaspreet Baveja
Lender · Palo Alto, CA · Member since 2017 · 142 posts · 91 votes
6y
Originally posted by @Timothy J. Cudjoe:
Great replies, I'd have to say since I started in this field I've caught myself being stuck in two minds, Of loving the idea of passive income and the awesome ways that real estate can create and spark that. My passion has always been revolved around traveling to European countries and visiting the many iconic soccer venues of the World. Thus although its not a reason to slack and go after things because sometimes I find myself not being motivated enough to complete task in Real Estate.

Man... Talk about Passive Income and European travel! Thanks to my 100% passive (ok, fine, 95% passive income) strategy of investing in Private Loans using my own money to fund other investor's RE Investing, I have been able to quit my job of 8+ years in Healthcare Compliance Consulting, and traveled to 9 countries with my family of 4 last year! Drove through 7 of those in Europe ;) If you ever want to explore that option, which would allow you to diversify your portfolio, stay out of 100% real estate, yet still be able to generate some AMAZING returns on your investment, feel free to reach out and we can chat! Best of luck everyone!

4 Reply
Filipe Pereira
Property Manager · Windsor Locks, CT · Member since 2016 · 1k+ posts · 1k+ votes
6y
Originally posted by @Daniel Haberkost:
Originally posted by @Timothy J. Cudjoe:
How many of you actually love doing Real Estate for the benefits it provide and who actually is doing it because they have a passion and its helping that ?? #curious

Personally, I'd say I'm passionate about real estate because of how quickly it has allowed me freedom over my time. I'm not actually that interested in doing deals or managing tenants (although it's far more enjoyable than other work I've done). However, I am passionate about climbing mountains/snowboarding/mountain biking among other things and because of real estate I'm able to do these things on my schedule. So it's really just a means to an end for me.

"A means to an end"...nailed it!
I went to school to become an architect, not a property manager. But one day I looked at my rental income, then I looked at my paycheck....then back at my rental income. What I needed to do was obvious, so I quit my job.
These days I run the day to day operations of my property management firm while also managing my own units - the way I see it, I'm a landlord for hire. I may not *LOVE* dealing with tenants, contractors, or the likes, but what I do love is having complete control of my time. My time and my schedule means nearly everything to me, and I just can't come up with anything else that affords me the freedom that my real estate income brings me. The closest thing I have found is retail arbitrage, or online flipping / drop shipping / amazon sales. But that feels awfully competitive and who knows where that market will go.

People will always need housing though!

5 Reply
Bill Goodland
Rental Property Investor · Allentown PA, United States · Member since 2016 · 567 posts · 442 votes
6y
@Timothy J. Cudjoe everyday I’m looking for a deal feels like I’m treasure hunting, I love it
1 Reply
George W.
Investor · NJ · Member since 2018 · 869 posts · 921 votes
6y
While I enjoy real estate investing Its not a passion, it's more of a side gig to my business which Is my passion.
1 Reply
Aigo Pyles
Flipper/Rehabber · Memphis, TN · Member since 2020 · 758 posts · 285 votes
6y
@Timothy J. Cudjoe
Well, I am not sure if there is really a passion for "real estate" alone. I like helping others get the chance to own their own house. I like creating business and creating cash flow opportunities for real estate investors. Be able to transform the community where I live into a better one by transforming houses that are already forgotten, decaying, etc. into something new (appealing to the eyes, enhancing the beauty of the neighborhood, etc).

Real estate is only the instrument.
My passion is changing people's lives through real estate.

3 Reply
Scott Mac
Austin, TX · Member since 2019 · 5k+ posts · 5k+ votes
6y
Multi-family is my passion.
0 Reply
Jennifer Pratt
Member since 2020 · 1 post · 1 vote
6y
I’ve been learning about real estate and different strategies for it. I am still trying to decide exactly what route I want to take but for me it’s just to fuel other passions. It’s a great way to become financially independent and leaves so much room for travel and to pursue other hobbies once successful. I’m just looking for freedom and this is the path I’m taking to get there.
1 Reply
Scott Mac
Austin, TX · Member since 2019 · 5k+ posts · 5k+ votes
6y
Originally posted by @Jennifer Pratt:
I’ve been learning about real estate and different strategies for it. I am still trying to decide exactly what route I want to take but for me it’s just to fuel other passions. It’s a great way to become financially independent and leaves so much room for travel and to pursue other hobbies once successful. I’m just looking for freedom and this is the path I’m taking to get there.

Hi Jennifer,

This reminds me of something that sticks in my mind from Trump University:

How to have a winners mind-set
- Person number 1. Who just wants to be a wealthy thinks: Someday if I’m as wealthy as Donald Trump I’ll own a lot of properties.
- Person number 2. Who will actually has a shot at being wealthy thinks: I’m going to get as rich as Donald Trump by starting to own my own properties.
The difference between these two people is owning properties shouldn’t be your ultimate destination; it should be your path to becoming wealthy.

But sadly, political factors the in the East had Trump University shut down for political purposes, so no more learning can go on there, but you can still find copies of some of the text books online if you're interested in learning more.

Good Luck!
1 Reply
Mike Dymski
Investor · Greenville, SC · Member since 2016 · 5k+ posts · 13k+ votes
6y
Managing residents and contractors is definitely not my passion. One of those is actually an anti-passion.
2 Reply
Jim K.
Handyman · Pittsburgh, PA · Member since 2018 · 5k+ posts · 13k+ votes
6y
I see a road ahead of me. I'm not ashamed of that road. I don't have to hurt people to get what I want. I can do right by my family. That's more than enough for me.

I think it was last year when I happened to have a conversation with a local U. of Pgh. professor of comparative literature about my life's trajectory, which I have described multiple times here on BP. I started in academia as a grad student, went on to teach for a decade, then made the turn to real estate. We talked for a while, and she abruptly came out with what I'm sure she considered to be an amazing compliment: "You should be writing." What she meant of course, was that I should be writing articles and books on literature and society as an academic myself.

My mind snapped right here to Bigger Pockets, to the three garage bays of stuff I got from the review writing I used to do for Home Depot, to all the possibilities involved in starting my own blog and my own video channel in home improvement and DIY landlording. I am writing. I'm writing quite a bit. But there's an obstacle, even a veil, between an understanding of what the life of a versatile residential handyman in 2020 is like and the lives of academics and people who for one reason or another never touch this kind of work.

Would I call fixing up houses and DIY landlording a passion? I reserve words like that for my family. But would I call it fulfilling, especially the part of the life that includes writing about it here and elsewhere, helping other people find their feet in it? Most certainly.
4 Reply
Joanne Eriaku
Realtor · NY · Member since 2020 · 167 posts · 169 votes
6y
@Timothy J. Cudjoe must it be either or, can it be both? I am genuinely excited turning beauty from ashes. Rehabbing is that for me...its both.
2 Reply
Karen O.
NYC, NY · Member since 2016 · 619 posts · 456 votes
6y
Originally posted by @Scott Mac:
Originally posted by @Jennifer Pratt:
"But sadly, political factors the in the East had Trump University shut down for political purposes, so no more learning can go on there, but you can still find copies of some of the text books online if you're interested in learning more."

As BP tends to be politically neutral, It's unfortunate that the response included the above quote which is untrue since TU closed in 2010, long before he ran for office.

The class action lawsuit was a consolidation of several complaints. It wasn't political by factors in the East since he wasn't a politician at the time. The $25M settlement years after the 'University' shut its doors also speaks volumes.
Indications are that the programs were a sham similar to some currently delivered by some gurus who convince people to go into debt for programs that don't deliver true learning or skills.
0 Reply
Brian Briscoe
Real Estate Coach · Salt Lake City, UT · Member since 2017 · 273 posts · 414 votes
6y
@Timothy J. Cudjoe
Yes and Yes. Definitely a little bit of both. I love talking about it, I love helping others invest and make solid returns, I love the excitement closing on larger and larger deals, I even write about it. So, yes, it is a passion of mine.
But, it is also an means to an end. I want to be financially free. I want to have time to dedicate to whichever worthwhile cause is most important to me at the time. I want to have time to dedicate to my kids. I want to travel and see new places and meet new people. Real estate also fuels that dream.
2 Reply
Deniz Eker
Philadelphia, PA · Member since 2019 · 102 posts · 48 votes
6y
@Timothy J. Cudjoe
Investing ,financial independence is my passion and real estate is helping me gradually get there
1 Reply
Gerardo Escutia
Rental Property Investor · Statesboro, GA · Member since 2016 · 27 posts · 17 votes
6y
@Jaspreet Baveja
That's my ultimate goal to become a private lender. I currently hold 8 properties but eventually want to become more passive in REI. How did you get started and how much money would I need to have on hand to get started?
0 Reply
Jaspreet Baveja
Lender · Palo Alto, CA · Member since 2017 · 142 posts · 91 votes
6y
@Gerardo Escutia - Congrats on your success so far. It always helps to have experience as an investor before you jump to the other side (and vice-versa!). It all depends on where you want to invest, how much you want to invest and for how long! You could buy Performing Notes at a discount for as little as under $10k with a couple of years left on them, to funding $Ms of dollars for a large development/acquisition project. Private loans don't have any limits, just how you structure and source them is different. Please feel free to DM me and I would love to chat further about your specific situation.
0 Reply
Jason Wenino
Member since 2018 · 5 posts · 6 votes
6y
@Timothy J. Cudjoe Definitely my Passion... I love the hustle! Networking, moving all the pieces and putting all the right ppl together. Then negotiating to close! Doesn't get any better... If you love what you do, it's not work.
1 Reply
Scott Mac
Austin, TX · Member since 2019 · 5k+ posts · 5k+ votes
6y
Originally posted by @Karen O.:

The class action lawsuit was a consolidation of several complaints. It wasn't political by factors in the East since he wasn't a politician at the time. The $25M settlement years after the 'University' shut its doors also speaks volumes.
Indications are that the programs were a sham similar to some currently delivered by some gurus who convince people to go into debt for programs that don't deliver true learning or skills.

Hi Karen,

You can spin it anyway that makes you comfortable, but the facts (without the media spin) of why it was shut down are clear.

As to the guru end of it, there was an in-field adjunct program sold through seminars (I think through an outfit in Utah that does these kind of things), that like any another product, if you have the money you could buy in and participate. That end of it had some problems, the main part, (the classes end) of it did not have any problems because it was not set up so anyone with the money could buy in you had to apply. That part was very successful, and that was what they wanted shut down for political reasons. The school end of it.

The problem with a lot of these "anyone with the money" seminar things is that the bar to excel at them is higher than a lot of people can, or want to, jump.

In a college for instance, you have A, B, C, D and F students, and those that just drop out. There is also a non-monetary hurdle that prospective college students must be over in order to be allowed to participate (GPA, social factors, etc). Different people have different amounts of mental horsepower and different amounts of drive and desire, colleges try to sift that out (as one of their criteria for entry), the guru seminars do not.

If the colleges just accepted anyone with the money, they would experience a lot more failure than they already do. The college sales people are presented with a pre-combed list. The Sales people for these "anyone with the money" seminars are simply selling a product. The end user either sinks or swims, it's his or her risk (without being pre-combed out of the running by whatever the college puts in place as the hurdle to get in).

With all of these seminar type pitches you're going to have A, B, C, D and F students, and those that just drop out. And some of the programs will be EASIER than others due to the nature of what is being taught. It's harder to learn brain surgery than it is to learn to tie your shoe laces.

But the seminars do not discriminate, they allow anyone with the money an EQUAL chance to step up to the plate and learn what they are personally capable of. Many people complain about seminars, and how the owners make money from them, but like in all colleges, some people excel greatly with the knowledge they learn and others FAIL.

There should be a better system for this, but saying (like colleges do) that someone must have a certain GPA, or have taken certain classes in another school, or have some other social factor before they can pay to learn the material would never give people the chance to learn.

Ultimately it is up to the participant (like everything else in life) to either FAIL or SUCCEED. Many people drop out of Harvard and they have very high hurdle to be allowed to pay them. A lot more money down the drain than these real estate programs charge, and a lot of what they teach is useless knowledge (money 100% wasted).

But you are right, like some other RE seminar programs out of Utah, the seminar open to the public program had some issues. I think the issue is with the seminar format itself, and that anyone with a dollar is allowed in, but then again this is America, and if you have that Dollar and want to use it to learn as much as you can that's your right.

The seminars just pull money in, in a different manner than the colleges. But Trump University was not a seminar, Trump University offered a seminar as one way to learn certain things. Just like Harvard offers learning outside their main degree program.

Seminar programs remain popular, so some people must be learning something useful from them. A, B, C D and F students, and dropouts--like any other learning experience. Some can, some can't, but enough do to make them continue to make a profit and stay in business.

Just my 2 cents.

Good Luck!

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Account Closed
Rental Property Investor · Torrance, CA · Member since 2016 · 724 posts · 1k+ votes
6y
@Timothy J. Cudjoe
My passion is the pursuit of freedom and wealth. Not just having money, but having something to pass on. I want to build something that will be here when I’m gone. Real estate is simply the vehicle I’ve chosen to get me there.
1 Reply
Mark Cruse
Investor · Fort Washington, MD · Member since 2014 · 1k+ posts · 1k+ votes
6y
Real estate in general is my passion. Specifically I LOVE flipping property.
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