Why do I invest in real estate?

Why do I invest in real estate?  Good question.  I have learned that there are very few things more satisfying than transforming run down (some would say “should have been torn down”) real estate.  Looking at the ‘before’ pictures, I realize that I’ve significantly improved a dwelling.

Why do I invest in real estate?  I am going to make money.  I am building my retirement portfolio right now.

Why do I invest in real estate?  There is honestly no feeling like when you see that your new residents are so excited to move in that they are barely able to contain their smiles.

That is why I invest in real estate.

UFUO #2 – Update 7

Sorry for the long delay between posts.  I’ve been scrambling to get UFUO#2 ready to be shown.  The good thing about the lack of my posts is that the unit was listed, and within one week, I have found some residents.  The residents are extremely happy to be moving in and I am extremely happy to be finished (and renting to excited residents).

Finally the toilet went in.  I had to level the floor under the toilet so it wouldn’t rock off the wax ring (and rot out the subfloor…again).

One Thing per Day

As I get older, I begin to better understand my parents (maybe we all do).  I find that the rules my parents had while I was growing up are generally good rules, although some rules need slight tweaking!

My dad has a rule that I heard at least once a month: “One thing at a time”.  As a kid, I heard the words he was speaking, but didn’t understand what he was saying.  I normally try to get everything done at once, which causes headaches for myself and usually a few others.  Since I’ve been working on UFUO #2, I’ve begun to learn the wisdom of my dad’s words.

Just like any good system though, I’ve tweaked the saying to better fit my life.  I have a day job that occupies at least 40 hours per week.  At the same time, I am trying to build my real estate portfolio while not giving myself a headache (and not working 100+ hours per week).  So, I tweaked my dad’s rule to the following: “One thing per day”.

For me, one thing can be as simple as one phone call or one email.  “One thing per day” may seem trivial, but I’m amazed at how much can get accomplished if you stick to it.  My Realtor remarked that I must work 24/7 to get everything accomplished.  I told her my rule and that a long slow burn will accomplish a lot more than getting burned out early on.

Real estate investing is a long term game, so “One thing per day” is a perfect rule to follow.