What do You Want out of Real Estate?

As in most avenues in life, things are easier when you know your destination. Establishing goals and plans of action to get there is the 1st and most important, but often overlooked step. I had my 1st rental property, which cash flowed almost a grand a month, for years before the investing light bulb went off and I purchased another property.

It took awhile to formulate my thoughts and decide what type of lifestyle I wanted and which real estate strategies fit best for me. Due to the 4 Ways to Make $ on Real Estate, my family and I have been able to take multiple extended vacations around the world and basically live with many semi retirement breaks.

So here are a few questions to get your mind thinking about what you really want.

·       Do you want to make $xxx in passive income per month?

·       Do you want to have a 2nd home as a vacation property?

·       Do you want a higher rate of return on your money? (At time of writing bank interest is only paying about 1% per year, so your actually losing money to 3% inflation average)

·       Want to become financially free, and not have to trade your time for $$?

·       Do you want to hedge against inflation or a recession?

Each of these are solid reasons to consider investing in real estate. Once you identify what you want, or Your Why, your path in real estate will become more defined and you will be 1 huge step closer to enjoying the benefits of Real Estate.

Sometimes it takes the realization that you are not a well informed investor and might really be just playing around. It might be painful to hear, but it is better to hear constructive or honest criticism so you have a chance to change and grow.

“Your are not an (stock) investor, you’re a gambler” said Ben to me after we discussed our previous stock investments etc. It stung and you know what, he was %100 right, I had just never realized it. This is a very common situation for people who have an online stock trading/crypto currency account. People have a hard time battling emotions and impulsiveness with stock/crypto positions that can be changed at the drop of a hat. Smart people are especially stubborn investors as they usually think they know more than everyone else.

This is why real estate is a much better option for the majority of people (The Piggy Bank Effect) who want to invest to make money and not just entertain themselves.