When I first got started as a full time real estate investor I was engaged and had no children at the time. I had plenty of debt and no money in savings. After 5yrs of investing in Memphis real estate and selling property I look back and try to evaluate why I do this, what my motivation is and why I have achieved some level of success. Some people are looking to replace their full time job that they hate. Others are looking to get rich. Personally, if that’s your goal you might find it will not keep you motivated when the going gets tough. I guess my main drive is being able to provide for my family and our future. I do not have a 401k or work retirement plan as I am self employed so building a portfolio of investment rental property will be what a part of our retirement will be based on. Yes the money can be good at times but making sure I can pay the bills, provide for my wife an 2 boys is the most important ” why ” for me. In order to be successful in anything you need to have a reason, a purpose for doing what you do or even taking on extra then what your already doing. Real estate investing just happens to be my ” why ” and its something I happen to be good at thankfully. Go find your ” why ” and live your dream.
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