Want Real Estate Investing Success? Know Your WHY’s.
In my first blog post, “Journey to Liberty”, I expressed that my goal is to own real estate investment of 20 doors by year 2017. But WHY do I want to do this? Why does anyone want to do this?
As real estate investors or business owners, before we start anything, it’s always good to know our why. For most people, their why may be their children & family, for others it could be because they want to change their life circumstance for the better. When you know what your why is, it will propel you to work harder, faster, and smarter. When you feel uncomfortable trying new things to reach your goals, it’s this very WHY that pushes you through.
So what are my WHY’s?
Why #2: My 2 Young Daughters
I’ve been a single Mom for almost a decade. I’m not going to kid you and say that it’s easy. It’s not. Mentally and physically, it’s draining sometimes. But these are my favorite people in the world who have loved me from Day 1, and will continue to love me till the sweet end. What I would like is to have some money set aside to 1) go on vacation with my daughters every year which is a win for all of us, 2) help them purchase their car, and 3) contribute to the purchase of their first home to kick-start their adult lives. After that girls, don’t call me unless it’s Mother’s Day, my birthday or Christmas ok?
Why #1: Me, myself and I
Four years ago, during the Vancouver Olympics, I was in a much different place emotionally and financially than I am today. Due to life’s circumstances, I ended up living in a Woman’s shelter for almost a month. I did have a job that I liked, but I was living paycheque to paycheque. It was in 2010 that I decided that I no longer wanted to live this way and I knew that I was the only person who has the power to change my life. I made the decisions to create wealth, to ensure I have balance in my life, to give back to my community, and to be happy. I learned everything I could about real estate investment and passive income from successful investors, and I took action to acquire income properties in high growth areas. I am thankful that I had such a low period in my life, as without it, I wouldn’t have such a huge WHY.
My recommendation. In order for you to achieve your real estate investing goals easier (or any goals), you must know WHY you have these goals and really give it some thought. Knowing your WHY’s makes it that much more meaningful, deserving, and fulfilling when you achieve it. Sure, it can be for your family, your dog, for mankind… but the Number One reason you want to achieve your goals should be for YOU. Who do you think the common denominator of your life is? When on an airplane, they always instruct you in an event of an emergency to put the oxygen mask on yourself first before helping others. How would you be able to help your loved ones and to give back to the world if you don’t have the emotional and financial capacity to do so?
I am a licensed realtor dedicated to securing you wealth through strategic real estate investment. My mission is to help you achieve financial freedom by creating enough passive income to eventually replace your working income, so that you can spend more time doing what you love with the people you care about. For more information, go to www.pointbinvestment.ca.
Let me introduce myself. My name is Teresa Leung and I am a Real Estate Investor and REALTOR®. My job is to help people’s money work harder for them through investing in strategic income-producing properties in Western Canada.