Why are we here

General Real Estate Investing
1

I recently had my 1000 post and I thought I should give more direction to my posts. Like Propertymanager and his expenses 1/2 the rent and Frank Chin telling you how it is for real in real estate, etc. I want to know why are you doing this real estate business? I always say all real estate is local. But it is also individual. You need to decide why you are doing real estate. You need to decide if you are doing it because you are not satisfied with your current lifestyle and you need to build your lifestyle up or are you satisfied with your lifestyle but want multiple streams of income so that you are not a slave to your job. There may be another reason you are doing real estate. Anyway you need to decide so that you can select the path you should follow.

In my case I have a good lifestyle. I have a big house fast cars and a lake house for the weekends (although lately my weekends have been spent rehabbing houses or selling them). And vacation in Hawaii every year. My goal is to fund my expenses with real estate thus freeing up all the money I make from my day job as extra income. At that point I am working for fun and not for money. That will enable me to quit if I want or just only take the assignments that are fun to do.

2

Congrats on the 1000th post Bluemoon…

Keith

3

Bluemoon,
First, thanks for the times you’ve given your opinion to the few questions I’ve put on the board. I benefit from reading your replies.

I just bought my second rental last November. My wife and I thought that diversifying our assets would be a good thing. It is a learning experience for us, but we have great hope for the future.

Cheers,
al

4

Real estate is a hobby. Real estate is a diversion, something I can do when I feel like it.

5

For me real estate is a way for me to achieve what I really want in life… FREEDOM. Freedom for me is traveling, seeing the world, eating out 5 nights a week, a fast car, a big truck, no worries about my kids college if he chooses that, being able to take an afternoon off and do whatever I want, to teach others how to obtain this freedom, to HAVE FUN!!!

Great post Bluemoon and thanks for your 1000 + posts.

6 
 Thank-you for your posts.  I think it really helps to communicate with other people who are investing in real estate.
 I want to be an investor.  I want to spend the next 7 years building wealth and learning how to invest, then spend the rest of my life supported by passive income.  Once I achieve financial independence, I want to teach other people how to build wealth and create passive income.
 I have spent a lot of time in healthcare and health related science; it's kind of like real estate, lots of complexity.  I don't know if I would stay in healthcare if I were financially free.
7
I recently had my 1000 post...

Congratulations and here’s to 1000 more! :beer

8

Although I have yet to buy my first property, I plan to do real estate full time. It will be hard to balance college (starting this year) and working hard to purchase properties. I’m choosing rentals so I can have a monthly cash flow and I can stop whenever I feel content with my standard of living. If I want $10,000 a month, I need to buy 100 SFHs that cash flow $100 a month, or 50 duplexes, the options are infinite.

I also want to get into commercial real estate after I grow comfortable with residential real estate. And in my opinion, investing in assets is the only way to truely gain financial freedom.

Adam

9

Adam,

college is a perfect time to invest. Your housing, meals, and expenses are basically covered during the semester. You’re in class, what, 12-15 hours a week. If you’re devoting your off hours to REI, and not socialis maximus, you’ll be on your way in no time.

You will be more than a leg up on your peers who are out puking beer from the frat parties, or whatever, and when you graduate college, you won’t have to get a job with that degree.

The hardest thing about college, because in most cases it is the first time young ppl have such freedom, is self management. The discipline you exercise now will pay off in spades later.

Examine when you are at your peak during the day. If you are an early bird, study then. schedule your classes early. Get it done by early afternoon.

Afterschool is done, move to your 2nd job - REI. Approach it just like your classes - go to class - reading, networking; do your homework - know your neighborhoods; turn in your papers - submit offers.

You have a campus of expertise available to you. Howso? The business department instructors! Hey, Professor/mr. so and so, I have a question… If I get a loan for x% at 15 years, is is better than yz loan?

Hey econ/urban studies professor so and so… seems like this area is depressed… what caused it and what do you think the city will do about it to bring it back? You don’t have to tell them that you’re a real estate investor. Keep your questions general.

I’m sure you see where I’m going with this.

Good luck to you and use you resources!

10

I asked myself the why question again and again until I got an answer to this question. The bottom line is that I want to control my life.

I freelance and contract technical projects. I have done quality, timely work for an agency I work for, yet I get flack because I haven’t worked enough hours.

The client may say, thanks, and go ahead home. But the agency is barking because they can’t bill the full 40. No bonus or reward because I’m kickin butt… complaints.

I went through 6 years of college to be treated like a 3rd grader? Sure didn’t.

When I finish my work, I want to see a smokin’ finished product - a rehabbed house, a nice check, and happy, grateful homeowners.

I want to have the flexibility to leave work when I want to and attend my child’s parent and me tea, no asking permission, no pleading, ingratiating, or rear smooching.

i want cash flow, and the freedom it brings to travel, educate, and enlighten. I am deserving of it, and I will have it. I will residualize my wealth, and put it on auto pilot.

I am selling hope at the pre-market crash price of $29.95. Get it today before the price goes up!

11

Why am I here? I took a wrong turn at the network marketing forum and can’t find my way back!

Mike

12

I want to help people. That’s it…

If I have enough income, I can help my children through college, I can donate to the charities I want, and I can make sure my wife is happy by getting her the things she wants.

With enough income I get enough time, to do the things I want, to spend with the family, to share my experience with others so that they can become successful.

When I look at my life today, I have all the necessities that I need. Investing lets me take it to another level.

j