Are You Investing in Real Estate Only to Get Rich?

What makes you want to become a real estate investor?

The answer varies for many people but often it’s because they want financial freedom. Or, passive income.

But, there’s a problem with pursuing real estate investment if you ONLY seek wealth and financial freedom from the venture.

You will face some significant issues if your journey as a real estate investor begins in pursuit of passive income or financial freedom. The pursuit of passive income or financial freedom may not be enough to push you through the challenges you will face.

It’s not enough to pursue financial freedom or passive income. There needs to be a much bigger reason. There must be a clear vision.

Someone recently suggested to just keep asking yourself WHY in search of the bigger reason. It’s that WHY that will see you push through when your tenants leave your property a disaster and it’s that why that will keep you moving forward to find financing when none of the banks want to lend you money.

So ask yourself:

Why do you want financial freedom?

Because I want to be able to leave my job and live my life the way I want.

Why?

Because I want to spend more time with my family and because I believe I have more talents to offer than my job allows me to use.

Why?

Keep going down this path you’ll eventually end up in a place that lets you know that you are pursuing all of these things for the simple reason that you think they will make you happy.

Or maybe you’ll hit a dead end and realize you don’t have a good solid WHY that is driving you towards real estate as an investment.

When you realize this, you might just find there are things that will get you to a point of happiness a lot faster than real estate. You may just realize you were led to believe by the late night guru that real estate is the best way to get rich quick and therefore the fastest way to happiness.

When you realize that, and accept the fact that it’s not that quick and it’s definitely not that easy, you may find that real estate is not at all the place to start.

Or you might find, as we have, that real estate is something that you’re passionate about because it’s an effective vehicle to help you achieve the big WHY’s in your life. But, I will give you a hint, when we got down to the root of what makes us happy it isn’t money. Don’t get me wrong … we need money. We all do. Even His Holiness the Dalai Lama says everyone needs money. But, once your basic needs are taken care of, to feel happy, you need a lot more than money. That is going to be the WHY in your life. That is going to be the vision you should chase …