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Updated over 3 years ago,
- Investor
- Albuquerque, NM
- 220
- Votes |
- 275
- Posts
I want to Invest in RE and I can't find the time
I hear this a lot from people wanting to invest in real estate. I want to invest in RE and I can't find the time. When I was younger, I thought investing in real estate was a truly passive activity. Yes, this may be the case if you have a lot of money and fund other people's deals.
Unfortunately for most, there is a great deal of time and energy involved in real estate investing. More than many of the gurus might tell you. If you're truly wanting to be a passive investor and buy back your time, then here are a couple of tips.
INVEST YOUR MONEY WITH PROFESSIONAL INVESTORS
As a pro in the industry, I try to provide a turn key for my clients. That being said, it means that you can invest your money in a few ways. First you can provide short term funding to flippers or BRRRR folks looking to cash out in 12 months or less. Second, you can invest for longer terms like 3-5 years for a Real Estate Note to investors looking to build their rental portfolio. Third, you can look at being an LP in a larger Syndication deal that can last 5-10 years. In any of these scenarios, you're going to be truly passive as the ones borrowing your money pay you and do the work.
KNOW YOUR GOALS
It is important to clearly define your goals and strategies for your money. Do you want short term burst of transactional cash or are you looking for longer term residual cash flow? Maybe you're looking for both. Whatever you are trying to accomplish, be clear and stay true to your path. Too many investors lose focus and spread themselves out in too many strategies missing the mark.
KNOW WHY
What about investing in real estate is important to you? Secret: It's not about the money. The answer is something deeper that requires your heart to answer. What will the money do for you? Will it provide you with a sense of security? Will it help you buy back your time freedom? Maybe you or someone you know have some health challenges that don't allow you to work regular steady jobs. Whatever it is, this is going to pull you through the difficult days in your investing career. (Yes, there will be some of those). Get really clear on why real estate is so important to your life.
My goals include owing no one anything. I lost everything I worked so hard for during the 2008 crash and swore I'd never go back. I have dreams of traveling on missionary work without worrying about where my income will come from. I have dreams of seeing the world with my wife without worrying about needing to be back for work. I want to be there for my grand children and children when they have special events. I spent too much of my life worrying and building other people's dreams. Now I want to design and build my life and live on my terms.
If you can't find the time to get started, you won't have the time to build it. You have to make some decisions. Time and Money are just excuses. Dig Deep and go for it.