What I JUST Discovered...

[JoeRagona]

I have to admit something; I finally discovered the reason I began investing in Real Estate & it took me five years to figure it out!

I realized it while preparing for what will be my most revealing talk ever at the Property Show Saturday April 30[sup]th[/sup] in Toronto where I am sharing as much as possible about what brought me to where I am today.


It`s because of this on-going self-analysis I find more truths.

HERE`S WHAT I MEAN:

I`ve talked about my businesses before, starting them without
direction following my passion for what I wanted to do and that`s all
cool. What I found when looking back though, is every one of these businesses was driven by the desire to make money.

But wait, isn`t that WHY we are in business in the first place?

It's to be rich (although I don`t use that word anymore, it makes the point), have the freedom to buy and do what we want etc. Well, I suppose on the surface everyone wants freedom with money.

So the question remains:

Why did I start investing in Real Estate? Was and IS it for the money? If it is, I am terrified as to what will I do when the money doesn`t come.


Let me point out the number one answer to: `why do you want to invest in real estate`, it is usually some form of: `because I want to replace my income, quit my job and be financially secure` which was my answer; me, me, me.


Honestly, if this is the only reason you can conjure up, YOU are
motivated by money, which means your decisions are based on money.
Once you don`t have the money, your motivation dies.


Over the years, I`ve witnessed quite a few investors come and go after being pumped up with the idea of riches & they begin buying without real purpose and then slow down and give up completely.

Why does this happen?

It`s because there is no deeper meaning for them to `stick it out` when times get rough. Vacancies pop up, economics change, repairs happen, whatever the case. The `riches` are just not happening fast enough.

THE TRUTH IS

I started this same way`I didn`t know it, but my reason to invest in Real Estate was DESPERATION.

Desperation is
another way of saying `I wanted money`. I was completely lost after
selling my company, the music business was no longer bringing residual
income and I was panicking about providing for my family.

On the surface, you would think I had a great reason, a deeper one
than money, but truly it was not. I can tell you that because I had no
idea what Real Estate I wanted or why I wanted it. I just trusted I
could invest in a property and hopefully make some money doing it.


With the help of the Real Estate Investment Network and all of the people I met, I was quickly encouraged to find the reason I wanted Real Estate. Specifically, Peter Kinch, Don R. Campbell, Russell Westcott and Patrick Francey personally
challenged my reasoning every time I spoke with them. At first, this
got under my skin; I`ll be honest because they answered my questions
with a question.


But that was the genius. They challenged me to look deeper and the secret is, it's different for us all.


Today I know WHY I invest and even though I started with desperation, I have quickly removed money as a motivator. This realization helps me help others in their entrepreneur development.

Take this quick test:

Remove money and freedom from your reasoning to
invest in real estate. Is there any other reason left? If the answer
is no, then move on and play the lottery because you are just as well.


On the other hand, if you can find reasons for WHY you want more money and freedom, specifically what those will DO for you and others around you, then you have the major component to be successful in Real Estate investment. Those reasons are what make you stick to the belief you discovered about you in the first place.


Why not share YOUR purpose for investing in Real Estate with me? Is it REALLY about money when you think about it? Maybe together we can figure out your true meaning and then you will be unstoppable.

Post below to start the conversation!

I hope you join me at the Property Show Saturday April 30[sup]th[/sup] and I will explain further what my `why` is for investing in Real Estate. Take a look here at all the great speakers I am honoured to share the stage with.

Don't be shy, start posting!

 

[BlairClarke]

Good post Joe! I talked to you on the phone last thursday and you helped me calm down and chill out which is what I needed! Then you made me start thinking which was really great and your post here is exactly what I'm trying to figure out!

Thanks again Joe!

 

[BlairClarke]

Ok Joe........I was keeping something's from you!

My number one reason for real estate investing is I want to have more time with my children( when I do have them hahaha) ! Growing up my Dad was driven sooooo much by money that he worked all the time! Day in a day out he worked as much overtime as he could and put life on hold so that he could accumulate as much money as he could! Now he is 58 with 38 years in a pentsion and will not retire because it is the only thing he has in his life. I really don't have many memories of him as a child nor do my brother and sister since he was never there.
I'm 25 and I could already see myself going down this path early so I decided to get into real estate investing as a way for me to take control of my financial future. I don't want to miss out on my life or my kids lives when the time cones so I'm investing my time and money right now so that I can be there for the ones that matter and when It matters!

I would be lying if I didn't say that money did have some motivation with me and I do disire money but my motivation is different from my fathers! His was about ME ME ME. Where as mine is about family and friends! I would love to have a cottage and boat so that i could invite Family and friends along as much as possible and share in the fun. That docent mean tho that I need these possessions to be happy as meeting friends for a beer and a hockey game is more than I could ask for!

My ultimate goal is to get so successful with real estate investing that I will be able to help friends and family who are going thru financial hard times get into real estate investing and take controk of their lives! I picture right now if I had a person who I was close to in my life that was into real estate investing.......I know I would feel a lot more comfortable knowingthat I was taking advice from someone that I coils really trust! I want to be that person to help them in tough times!

A year ago I lost someone in my life that I took for granted and still regret it to this day. Things in my life that I though were everything Ment nothing to me when this person left. I took a long hard look in the mirror and decided to change my thinking and myself.

One year later and I truly look at each day as an opportunity to help myself by helping others! In fact the happiest I've ever felt was a month ago when I was financial able to help a close friend go out west to make a better life for himself and get Out of this jobless rut that he was in. That made me feel like a million bucks! Not a new car, not a new house or fancy clothes.........but helping

There ya go Joe.......thanks for the post, I needed that

 

[Rickson9]

As always a great post Joe! Spoken from the heart!



Speaking for myself, it has always been about the money. For me, any real estate problem has had it's solution depend, in part, on the price that I paid. The less I paid the less it was a problem. I didn't think about the freedom part much because I've always had that.



Best regards and thanks for reading!

 

[JoeRagona]

Great to hear, both that you calmed down a bit and that I was able to help out!!!

 

[JoeRagona]

Thanks for your response Rickson...I always appreciate it.



I've always had freedom as well, when you come to the property show you will get more of what I'm talking about.



My wife and I had what most are striving for in their lives TWICE...and that is to be completely debt free. Our lives changed when we, well, I decided to use our equity to build more of a legacy...

 

[JoeRagona]

WOW - Now THAT was a response! Congratulations! Doesn't it FEEL better to meet the real you? To tell yourself and the world what you really stand for?



Believe me when I say I totally identify with you and your father. Mine did the same thing, in fact he started his company literally in my bedroom when I was three...I don't remember that of course, but he worked his ass off. He built the legacy and passed away at a young 60...we had our rough times, but I feel very honoured to be blessed with what he worked for and part of the reason I took my life of zero debt to build generational wealth, help others do the same with my stories, is to honour him.



Don't be mislead about money...it is NOT bad, it's WHY you need the money and you definitely have the why. We ALL need it, but if it is only to BUY that boat or car and nothing else, then I feel there needs to be something more.



You are on the right track and will be fine. At 25 I didn't have your mindset...I was paying for new cars cash because I thought I was a hero making 65k a year DJ-ing and had nothing in investments at all. I lived a pretty cool life, I'll admit, but as the saying goes..."if I knew then what I know now"...you definitely know NOW. Keep it up!

 

[BlairClarke]

Thanks Joe!



I hope to meet you some day and I know I will. Sorry for how crammed my long post was. I wrote it from my Iphone at work on my lunch hour and I set it up in nice paragraphs but for some reason it crammed it all together when I finally posted it.........?????



Thanks for writing that post, I feel that I will have to constantly remind myself of this on the journey ahead!



Thanks Again Joe

 

[JoeRagona]

No worries on your crammed message



Your very welcome!