You have to know your WHY
This has been on my mind so I thought I'd share my thoughts out loud with the Bigger Pockets fam.
To those who are hustling doing real estate investing, or trying to do real estate investing, or just simply thinking about doing real estate investing....
If you want to be successful, and I mean truly successful (however you personally define that), you have to know your WHY.
Why are you doing real estate investing?
Most people are doing it primarily to make a solid additional income and some others to build wealth. Some do it to make enough to fire their boss. That's great. But WHY?
It takes a lot of hard work, persistence, and willingness to do things that are uncomfortable to succeed in investing. Your WHY has to be strong enough for you to see these things through.
WHY do you want to make a lot of money and build wealth?
Once you make it, what the heck are you going to do with it (and why)?
Before my husband & I started our real estate investing business, we spent a lot of time talking about our dreams -- some of them are material, yes, but many of them are much larger than ourselves and have a positive impact on thousands and thousands of people. It's because of that why, that vision written down on paper, that we can persevere despite the obstacles. Quitting is not an option.
People ask me "How the heck do you work a full time job, be a wife, raise two young children, and yet still find the energy to do real estate investing?" It's simple. It's because of my WHY.
What's driving you? Money itself can only drive you for so long before you run out of gas. Money isn't the end game. It's a tool that gets you to your end game, whatever that may be.
If you feel like you're spinning your wheels, or you're feeling discouraged, just stop and take a sanity check on your why. And if you haven't thought about what it is OR if your why is just not important or exciting enough to you, keep working at it because its going to be the fuel that gets you through the journey.
I'd love to hear others thoughts on this. Does it sound like a bunch of BS or do you personally find that your WHY is making it much easier for you to get back up when you fall?
Comments (5)
Thanks everyone for your comments and contributions! James, I can't agree with you more....reviewing, adjusting, and recommitting (reminding yourself) periodically makes a big difference. Sarah, love that...changing the family script :-) Joe, I'm so glad you're in touch with your why bud because that's going to make a huge difference for you. Nick, that's good stuff....
Shae Bynes, almost 15 years ago
Great Post! I agree, we all must find our WHY. And we all also need to periodically review our WHY's and make adjustments as needed.
James Ward, almost 15 years ago
I'm changing a family script for myself and my daughters! To be able to guide my own ship where I want to go is freedom to choose based on my values, not someone else's. That's what drives me. ~Sarah Dinsmore
Sarah Dinsmore, almost 15 years ago
I agree, this is a great topic. I think that most people have the "why", but a lot of folks haven't thought to work it out. It's more of just a general, mabye burning feeling. But like you said, when the going gets tough, that isn't enough. It wasn' for me. I just really got in touch with my "why" a month and a half ago. Immediately, I need to succeed at this out of hard, dirty necessity. But the end game is so much bigger than that. And since I've had to work out the short-term, It's brought me very much in touch with the end game. That's exactly what I've needed to do some of the things I've done so far, and some of the things I'll need to do coming up. Whew, sorry so long, but I agree very strongly with you about how important this is :)
Joseph Ziolkowski, almost 15 years ago
This is a great topic. Too many times people come to me and ask for help. I sometimes ask what they expect or want out of REI, and 99% of the time, they say, "to make money" but they never answer WHY. Unless you know WHY you want to make money, WHY you want to succeed you'll never stay focused. My WHY is, I've been where I don't want to be again amongst other things but that is the biggest.
Nick J., almost 15 years ago