Have a Purpose for Each Property
Updated: Oct 29, 2020
There should always be a reason for investing in real estate; for me, I wanted to live a specific type of way, I wanted a building for each bill I needed to pay.
I wanted to eliminate my job; I didn't want my family to depend on my paycheck every week; I've always wanted them to have more than that.
With me I got to a certain point and realised I didn't want to stop, that should be for everyone, all it takes is one property to change your life all it takes is one.
Imagine having one extra income coming into your home; one extra income can be life-changing.
Some people notice a huge difference when their partner brings home their paycheck. Imagine if you had another 5 properties all bringing in 5 extra paychecks! Just imagine!
Sometimes you want to stop; sometimes it might feel like there is no point! But you have to remind yourself why you're doing this! What are your wants! What about your children's future and their children, that's what I remind myself every day!
Will, your kids, be in the same position that you are in, maybe your parents are getting older quickly, and they need extra health care!
That's how I've been able to grow real estate to become more meaningful to me; I need the buildings because they give me a certain lifestyle!
At the same time, I get a lot of people who ask me where to start and how to gain more knowledge.
You don't have to invest in the city you live in! Remember that!
I have tons of properties in Chicago that I have purchased in the last several years because I know the area! I've got to a point in investing where people look after your properties for you! Your property managers handle everything, so you don't have to be thinking about them all the time.
You can live anywhere and have property wherever you want!
It's more about creating your own blueprint and creating systems that you put in place that work for you! It's the team that you put in place! When I first started investing in real estate, I actually managed my properties myself.
I managed the projects, but I had an experienced contractor to go along with it. While I was managing the properties myself, the team I created showed me how to manage the job.
I knew nothing about Real Estate and construction. It was hands-on in the beginning; I learnt off my project managers and Real Estate managers.
You don't need to know how to do everything at the start, of course, it’s a journey, but you can also pay people to do it for you!
This shouldn't feel like another job for you!
If you don't want to start managing properties, you don't have to. Once you create your team, there are people that will manage your properties for you.
You can hire someone and learn from them too!
They will teach you how to manage your own properties, learn what this person is doing so you can build on top of the properties!