Are You 100% Sure Real Estate Investing Is for You?4 min read
Hating your current job is not a reason to get into the real estate business. Even the desire for a career that holds a greater earning potential is not enough reason to move into real estate investing. Many would be real estate investors believe that this is a simple gig that will get you rich quick and with little effort, but that is far from the truth.
To be successful at any job or career, you need to be passionate about what you are doing. You might only love a specific aspect of the business, such as the hands-on renovation, or the opportunity to work with people but you need to get excited by what you are going to be doing every day to earn a living if you want to be successful.
You can also get some of your passion and excitement from the benefits that a career in real estate investing affords you. Many investors look forward to regaining control of their time and their work/live balance. This is certainly an option for anyone who is self-employed, but a career in real estate can offer even more flexibility than other vocations.
Building personal wealth is the reason that most of us get up every day and go to work. And real estate investing does provide the potential to greatly increase your personal wealth. But you have to be willing to put in the hours and the effort to get the big payoff. This is not a career when piles of money are just delivered to your door. You need to work very hard, and for sometimes very small rewards, to get your business off the ground. Then, as you grow your business, you will see that the fruits of your labor are becoming larger and larger. But it can be slow and tedious in the beginning.
If you have answered yes to any or all of these questions, then you could have the right motivation and mindset to be a very successful real estate investor. But you will also need patience and some good mentors to get your business off to a strong start. There is a lot to learn about business and real estate before you should be risking your financial future on your knowledge and skills.