I don't understand how you could want to invest if money isn't a driving force. Sure it doesn't have to be the main reason, but why waste time investing if you don't care about the green at all
I love real estate, and am fascinated by it. It is a field that I can be in for decades and still have things to learn, and ways to grow; all while being able to do it how I want (as long as it is legal, moral, and ethical). I also want to build something. It is way more about those things than money to me. The money is the reason I can do it how I want and when I want so it is important, but the fulfillment is way more important in my mind. That's not to say your way of thinking is wrong and if that works for you, great! I don't work that way. Does that help clarify?
Sorry to call you out but your WHY is total BS. You like real estate just because you find it fascinating and you want to build something yet have no interest in money? It is BS because you cannot build anything without money. At the core of any thriving business is profit and cash flow. Even non-profit businesses need to make money or they go out of business. You fundamentally are misunderstanding how a business operates. Cash is your way to expand and purchase new properties. Cash pays employees. Cash pays mortgage, utilities, insurance and the list goes on. When you are old and unable to work, it will be the wealth you accumulated that will pay your bills. I am not talking about taking trips around the world, I am talking about paying for prescription pills and assisted living. So maybe you don't care about money, but do you care about being cared for when you grow old? Or do you expect to put that burden on the government or your children? Do you want to make a difference in the world? With money you can donate and impact change for generations to come or you could volunteer at the soup kitchen once a week and make a different in 20 peoples lives for one day. There are so many reasons to motivate a person and they all require money.
So either you don't have any motivation or you fundamentally do not understand what money represents. The only limited commodity is time and money is traded for time.
You don't sound sorry at all. In fact, you seem to be itching for an argument where there isn't one to be had. I think you really didn't read what I said. Quoting the post you hated on so viciously "The money is the reason I can do it how I want and when I want so it is important, but the fulfillment is way more important in my mind."
You need to relax. We actually agree. You said yourself "there are so many reasons to motivate a person and they all require money." I said the same thing. I told you what my motivation was. For you to judge that is hateful, and rather rude. That's not the kind of thing I have come to expect from this community, and I wish you would take that attitude somewhere else.
No judgement or hate. I was trying to make points to help change your mindset, which is what you asked for help doing. Even though you say money is not your motivation, it is the underlying need. Many people have misunderstandings about money rooted in flawed concepts such as, "money is the root of all evil" and "money doesn't buy happiness." Nobody in the world acquires investment property just to make stacks of money. The image of a rich person sitting around counting stacks of money is not based in reality.
Everyone who wants money has other motivations, yourself included. The reason I said your WHY was BS is to challenge you and provoke you to think about the real thing that motivates you.
Here is an unrelated example. Think of a body builder who lifts weights. Someone may argue they lift weights to get muscles, but the muscles are only a means to an end. What they really want is to look a certain way, be stronger or use the muscles to compete. They want to look a certain way to attract attention, to build confidence, to build respect, compete to make money, be a role model or any number of many other WHY's.
My point is that money is not a WHY, it is a means to an end. Have you considered you may have unhealthy feelings towards money and that could be holding you back? Nobody is saying your WHY should be money, just that money will help you reach your WHY.
I appreciate your clarification, and while your intent may have been to challenge I still argue it was insulting. It does seem like flamethrower language to say my motivation is BS.
I just keep reading people making assumptions here. So let me take it point by point.
What did I say that made you think I didn't understand the importance of money? I said it was required for my why to be. It is a safe assumption that anyone who is over 22 and doesn't have a trust fund knows why money is important.
What made you think I have "unhealthy feelings toward money"? My wife wants to have low rent apartments for the ESL parents of the students she teaches, and she can't get that until we can afford that kind of charity. We both want to get other degrees just for fun. That is a luxury for the rich. I don't feel bad doing any of that.
Why do you think I don't have my why pretty nailed down? I told it to you, you called it BS with the only explanation being about money which you agree with me on.
Why is it that people make all these assumptions when I say money's not my primary motivator? Money as the primary motivator for anyone is probably dishonest, and if it really, truly is someone's primary motivator I feel very bad for them.
You've challenged me. How'd I do?
I never said you didn't have a WHY. I just said the WHY you gave us was BS. Just because it struck me as a surface answer and ultimately I know there is more sustenance to what motivates you and everyone. Write it down for yourself and you will find that money will enable you to reach all your goals. It will not get your degree for you, but it will free up your time to pursue it.
The reason I think you have unhealthy views of money is your view that money being a motivator means someone is dishonest. Money is a motivator for me because of what it will allow me to do. The time and freedom it buys me. The people I can help and the security it brings my family. I have no negative view of money. In fact if you go to the worst neighborhoods, you will find it is lack of money that has caused their problems. If your ESL parents had more money, they wouldn't need low income housing.
Maybe I just have a different way of viewing the world than you do. That is probably why I found the book helpful and you didn't.
You are bad at reading what I say. I said as a primary motivator, money is not an honest answer. Secondary sure. You even said yourself money is a motivator BECAUSE... the because is your primary motivator, not the money. Money is a secondary motivator for everyone. Nothing special about that. So you agree with me on another thing you seem to want to argue about. And what do you mean, surface? I'll to turn it back on you. Your why was exactly as surface as mine. You said something that is true of every single person ever, just like I did. Security for family? Helping people? Freedom? Who doesn't want that? You can be on your high horse if you want, but before you rush to judgement on other people, read what they say. You seem like you agree with my points then judge me for something you just must not understand. I'm done with that.
I don't understand how you could want to invest if money isn't a driving force. Sure it doesn't have to be the main reason, but why waste time investing if you don't care about the green at all
I love real estate, and am fascinated by it. It is a field that I can be in for decades and still have things to learn, and ways to grow; all while being able to do it how I want (as long as it is legal, moral, and ethical). I also want to build something. It is way more about those things than money to me. The money is the reason I can do it how I want and when I want so it is important, but the fulfillment is way more important in my mind. That's not to say your way of thinking is wrong and if that works for you, great! I don't work that way. Does that help clarify?
Sorry to call you out but your WHY is total BS. You like real estate just because you find it fascinating and you want to build something yet have no interest in money? It is BS because you cannot build anything without money. At the core of any thriving business is profit and cash flow. Even non-profit businesses need to make money or they go out of business. You fundamentally are misunderstanding how a business operates. Cash is your way to expand and purchase new properties. Cash pays employees. Cash pays mortgage, utilities, insurance and the list goes on. When you are old and unable to work, it will be the wealth you accumulated that will pay your bills. I am not talking about taking trips around the world, I am talking about paying for prescription pills and assisted living. So maybe you don't care about money, but do you care about being cared for when you grow old? Or do you expect to put that burden on the government or your children? Do you want to make a difference in the world? With money you can donate and impact change for generations to come or you could volunteer at the soup kitchen once a week and make a different in 20 peoples lives for one day. There are so many reasons to motivate a person and they all require money.
So either you don't have any motivation or you fundamentally do not understand what money represents. The only limited commodity is time and money is traded for time.
You don't sound sorry at all. In fact, you seem to be itching for an argument where there isn't one to be had. I think you really didn't read what I said. Quoting the post you hated on so viciously "The money is the reason I can do it how I want and when I want so it is important, but the fulfillment is way more important in my mind."
You need to relax. We actually agree. You said yourself "there are so many reasons to motivate a person and they all require money." I said the same thing. I told you what my motivation was. For you to judge that is hateful, and rather rude. That's not the kind of thing I have come to expect from this community, and I wish you would take that attitude somewhere else.
No judgement or hate. I was trying to make points to help change your mindset, which is what you asked for help doing. Even though you say money is not your motivation, it is the underlying need. Many people have misunderstandings about money rooted in flawed concepts such as, "money is the root of all evil" and "money doesn't buy happiness." Nobody in the world acquires investment property just to make stacks of money. The image of a rich person sitting around counting stacks of money is not based in reality.
Everyone who wants money has other motivations, yourself included. The reason I said your WHY was BS is to challenge you and provoke you to think about the real thing that motivates you.
Here is an unrelated example. Think of a body builder who lifts weights. Someone may argue they lift weights to get muscles, but the muscles are only a means to an end. What they really want is to look a certain way, be stronger or use the muscles to compete. They want to look a certain way to attract attention, to build confidence, to build respect, compete to make money, be a role model or any number of many other WHY's.
My point is that money is not a WHY, it is a means to an end. Have you considered you may have unhealthy feelings towards money and that could be holding you back? Nobody is saying your WHY should be money, just that money will help you reach your WHY.
I appreciate your clarification, and while your intent may have been to challenge I still argue it was insulting. It does seem like flamethrower language to say my motivation is BS.
I just keep reading people making assumptions here. So let me take it point by point.
What did I say that made you think I didn't understand the importance of money? I said it was required for my why to be. It is a safe assumption that anyone who is over 22 and doesn't have a trust fund knows why money is important.
What made you think I have "unhealthy feelings toward money"? My wife wants to have low rent apartments for the ESL parents of the students she teaches, and she can't get that until we can afford that kind of charity. We both want to get other degrees just for fun. That is a luxury for the rich. I don't feel bad doing any of that.
Why do you think I don't have my why pretty nailed down? I told it to you, you called it BS with the only explanation being about money which you agree with me on.
Why is it that people make all these assumptions when I say money's not my primary motivator? Money as the primary motivator for anyone is probably dishonest, and if it really, truly is someone's primary motivator I feel very bad for them.
You've challenged me. How'd I do?
I'm reading Think and Grow Rich right now, and the six steps to change your mindset are very specific of the goal you write that you are supposed to repeat aloud twice a day. The problem is it revolves around money, and while I know I'm reading a book about growing rich, money is not a strong motivator for me. I don't think you're greedy if it is for you. It's just not for me.
That being said, at this point I'm not sure the book is doing much for me because it is hyper focused on money. Is there some way to change my mindset about reading about money? I need mindset help for a mindset book....
You don't need a book for any of that, in fact most of these money books are just hype and wasteful enlightenment from guys that mostly did not make any money, except from the books. There are plenty of better books about business and investing in general. Good to Great, Ground Sweat, Hooked, etc. I have a personally library of them, and many more.. The #1 key to success, is just taking a step forward, that's it. It does not matter what your motivation is, it's like going to get the mail, just go out there and pick it up. You never need motivation to do that, you just do it because. So in that same line of through; If you don't own properties, find one, then buy one, then rent or flip it, then do it again.
I buy and hold rentals. Rentals don't get any better as you can't rent the same unit to multiple people unlimitedly. It's not like a company that produces a product, or a website that sells memberships. What you have it what you have, so the only way you grow is if you buy another unit. So when I feel like it, I take steps to find more and buy more. Nothing fancy to it, just something you know you need to do, just like you know you need to go get your mail each day.
Lastly, maybe real estate is not for you. That's ok. I worked in tech my entire life, built many companies and made millions. I could have keep doing that type of work, but I was sick of it. I could no longer motivate myself to do it. So I found something else that did. There are a lot of things like real estate, like LBOs of small businesses, or just lending capital, buying notes, flipping old cars, you name it. Find what gets you working when it's your day off, not because you have to, but because you just do.
Why do you think Real Estate isn't for me? I know your intentions were good in what you said, but I've been working in the industry for two years and this is it for me as far as I can see. Do you think I really need to be motivated by money to do that? Why?
I only ask so I can understand. You seem to have good intentions so I'm not mad about it, but it did surprise me to hear you say it.
I'm not saying it a mean way, I'm just saying maybe you want to look around smell the roses, find another investment vehicle if this one is not motivating you. Nothing wrong with that. Just don't say this is the only option, there for you must motivate yourself to do it. We all grow and change over time. I generally follow my heart, if real estate did not interest me, I would not do it even if it made me billions. Do what you love first. If yor having a hard time movtivsting yourself, maybe it's time for some soul search to see if your doing what your really love. Because to me, if I'm doing what I love, I don't need motivation as I already love it. Case in point with leaving tech.
I appreciate that. Thank you for clarifying. I have no trouble with motivation, just with mindset. I do my lead generation every day happily. I was reading because I can do more and should to achieve my goals more quickly. There is no rush, but I'm excited for it to get where I want it to go. This book didn't do that for me, and that's okay. It's just I was reading this with my accountability partner and I didn't want to bail on it. Reading it and not feeling like it was helping would be painful. After talking to him about it today, we are on the same page and looking for other books. Not for motivation, but for mindset. I do think that is the distinction that made this conversation head off the rails in some ways, and that's my fault for not being clear.
I'm reading Think and Grow Rich right now, and the six steps to change your mindset are very specific of the goal you write that you are supposed to repeat aloud twice a day. The problem is it revolves around money, and while I know I'm reading a book about growing rich, money is not a strong motivator for me. I don't think you're greedy if it is for you. It's just not for me.
That being said, at this point I'm not sure the book is doing much for me because it is hyper focused on money. Is there some way to change my mindset about reading about money? I need mindset help for a mindset book....
You don't need a book for any of that, in fact most of these money books are just hype and wasteful enlightenment from guys that mostly did not make any money, except from the books. There are plenty of better books about business and investing in general. Good to Great, Ground Sweat, Hooked, etc. I have a personally library of them, and many more.. The #1 key to success, is just taking a step forward, that's it. It does not matter what your motivation is, it's like going to get the mail, just go out there and pick it up. You never need motivation to do that, you just do it because. So in that same line of through; If you don't own properties, find one, then buy one, then rent or flip it, then do it again.
I buy and hold rentals. Rentals don't get any better as you can't rent the same unit to multiple people unlimitedly. It's not like a company that produces a product, or a website that sells memberships. What you have it what you have, so the only way you grow is if you buy another unit. So when I feel like it, I take steps to find more and buy more. Nothing fancy to it, just something you know you need to do, just like you know you need to go get your mail each day.
Lastly, maybe real estate is not for you. That's ok. I worked in tech my entire life, built many companies and made millions. I could have keep doing that type of work, but I was sick of it. I could no longer motivate myself to do it. So I found something else that did. There are a lot of things like real estate, like LBOs of small businesses, or just lending capital, buying notes, flipping old cars, you name it. Find what gets you working when it's your day off, not because you have to, but because you just do.
Why do you think Real Estate isn't for me? I know your intentions were good in what you said, but I've been working in the industry for two years and this is it for me as far as I can see. Do you think I really need to be motivated by money to do that? Why?
I only ask so I can understand. You seem to have good intentions so I'm not mad about it, but it did surprise me to hear you say it.
I don't understand how you could want to invest if money isn't a driving force. Sure it doesn't have to be the main reason, but why waste time investing if you don't care about the green at all
I love real estate, and am fascinated by it. It is a field that I can be in for decades and still have things to learn, and ways to grow; all while being able to do it how I want (as long as it is legal, moral, and ethical). I also want to build something. It is way more about those things than money to me. The money is the reason I can do it how I want and when I want so it is important, but the fulfillment is way more important in my mind. That's not to say your way of thinking is wrong and if that works for you, great! I don't work that way. Does that help clarify?
Sorry to call you out but your WHY is total BS. You like real estate just because you find it fascinating and you want to build something yet have no interest in money? It is BS because you cannot build anything without money. At the core of any thriving business is profit and cash flow. Even non-profit businesses need to make money or they go out of business. You fundamentally are misunderstanding how a business operates. Cash is your way to expand and purchase new properties. Cash pays employees. Cash pays mortgage, utilities, insurance and the list goes on. When you are old and unable to work, it will be the wealth you accumulated that will pay your bills. I am not talking about taking trips around the world, I am talking about paying for prescription pills and assisted living. So maybe you don't care about money, but do you care about being cared for when you grow old? Or do you expect to put that burden on the government or your children? Do you want to make a difference in the world? With money you can donate and impact change for generations to come or you could volunteer at the soup kitchen once a week and make a different in 20 peoples lives for one day. There are so many reasons to motivate a person and they all require money.
So either you don't have any motivation or you fundamentally do not understand what money represents. The only limited commodity is time and money is traded for time.
You don't sound sorry at all. In fact, you seem to be itching for an argument where there isn't one to be had. I think you really didn't read what I said. Quoting the post you hated on so viciously "The money is the reason I can do it how I want and when I want so it is important, but the fulfillment is way more important in my mind."
You need to relax. We actually agree. You said yourself "there are so many reasons to motivate a person and they all require money." I said the same thing. I told you what my motivation was. For you to judge that is hateful, and rather rude. That's not the kind of thing I have come to expect from this community, and I wish you would take that attitude somewhere else.
I don't understand how you could want to invest if money isn't a driving force. Sure it doesn't have to be the main reason, but why waste time investing if you don't care about the green at all
I love real estate, and am fascinated by it. It is a field that I can be in for decades and still have things to learn, and ways to grow; all while being able to do it how I want (as long as it is legal, moral, and ethical). I also want to build something. It is way more about those things than money to me. The money is the reason I can do it how I want and when I want so it is important, but the fulfillment is way more important in my mind. That's not to say your way of thinking is wrong and if that works for you, great! I don't work that way. Does that help clarify?
I don't think it's about creating motivation. It's about channeling it productively. You are right that if you aren't motivated you won't act, but I'm motivated and I need to channel my energy more effectively. If that means clarifying my goals or using strategies that might seem self-help like, I'll give it a shot. I certainly don't know everything.
I'm reading Think and Grow Rich right now, and the six steps to change your mindset are very specific of the goal you write that you are supposed to repeat aloud twice a day. The problem is it revolves around money, and while I know I'm reading a book about growing rich, money is not a strong motivator for me. I don't think you're greedy if it is for you. It's just not for me.
That being said, at this point I'm not sure the book is doing much for me because it is hyper focused on money. Is there some way to change my mindset about reading about money? I need mindset help for a mindset book....
Welcome Jerry,
We're happy to have you. Tell us about yourself.
I like the East Hills area and that's where I plan on starting. I see potential for growth, but I also just like living there and I will be house hacking so my criteria should be very different from yours. Cap rate here is around 9% but you can find better.
Welcome Jackie. Happy to have you.