It’s that time of year again. You’re evaluating last year’s goals, setting new ones and planning for the future. New Years means a new beginning.
Before you get too involved in the goals themselves, have you asked yourself why you are setting them?
“That is easy Joey… I am going to loose weight so I can be in better shape.”
I am all about this kind of goal. But to me, “better shape” is the product, not the reason why.
I want to be in better shape so I can live a long healthy life. Or maybe so my back will stop hurting. Or even, there is this cutie at work I want to impress. These are reasons why.
Consider that why carefully and make sure that it’s a good reason. A worthy why will give you motivation when times get tough and help you to succeed.
So are you setting goals to be financially free? Why?
Ashley and I set goals for our financial freedom so we can have the time to be awesome parents, to volunteer in our community, and to provide a retirement for ourselves.
Many times I have thought I wouldn’t have time to do things like go to the park with my kids during the day or get to work on a local Habitat for Humanity project if I had a 9 to 5. You just don’t seem to have time for this when you are on someone else’s time card. Being able to spend your time how and when you want, that is true freedom.
But why choose real estate?
First, you are already in it, whether you realize it or not.
You already know what a nice house looks like. You know where to rent and where to avoid. You’ve probably seen a lease before and you know what makes for a good landlord. These are all things investor must know. Just by living in your town, you’re already in real estate.
Another reason is you get paid to help people. Zig Ziglar said, “You can have everything in life you want, if you will just help enough other people get what they want.”
Real estate is a business that does that. Imagine helping a young couple with buying the home of their dreams… and getting paid for it! What’s more awesome that?
Speaking of being paid, real estate is a business that can make you wealthy. Many millionaires have either made or held their wealth in real estate. Heck, we have a guy running for president who claims to be funding his own campaign. How did Trump make his money? Real estate.
Real estate is an investment that lenders like. Have you ever thought of going to the bank for a loan to buy gold or stocks? The banker would laugh you out the door. Real estate is a unique investment in that lenders like to lend on it. This means you do not have to have a ton of money to start investing.
But the most important reason to choose real estate is the passive income.
Rental properties work for you so you don’t have to. They pay 24 hours a day, seven days a week.
If you can rent a nice house in a nice neighbor for $900 per month, how many of those would it take to replace your income? My guess is not many.
That’s $900 a month that you didn’t punch a clock for. Monthly income that doesn’t require regular work is how you become financially free my friends.
With rent money coming in you have the freedom to volunteer, freedom to hang out with your kids, freedom to… you just plain out have freedom.
This year, choose your why carefully, choose to be financially free, and then choose real estate! Here’s to you finding freedom in 2016.
Joe and Ashley English are full time investors in NW Georgia. For more information go to www.cashflowwithjoe.com.