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- Jul 21, 2019
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I'm currently reading MJs second book, UNSCRIPTED , and I'm working really hard to change my way of thinking.
So...I have until now been very focused on starting with real estate investing - more specifically, buy and rent. A lot of thinking and rationalizing have me come to the conclusion that we could reach financial freedom in 10 years if we invested in RE, buying a new property as frequently as possible. Buildings don't lose all their value overnight, and it really cannot get any lower than the plot itself. And risks can be significantly reduced with proper research of the area, tenant screening, and buying well below market value. I'm a researcher, so I figured I could do better research than most.
But I'm having second thoughts, despite I have a really good property on hand. I'm not sure about my WHY - single-family homes with a garden are hot on the renting market in my area right now, and there are few out there for rent. Recent laws have made it more difficult to buy a home, so many would choose to rent. At least until they have the payout.
I do realize that I could be in a position to help families to live in single-family homes with a garden. But man, it's a difficult feeling when I have a passion to become free and help pay off my sister's debt when I'm not sure if I am passionate about fixing up properties for rent. But hey, "Love what you do" does not necessarily mean I have to love it.
Does anyone recognize my position? Perhaps it doesn't help that I suffer from imposter syndrome
So...I have until now been very focused on starting with real estate investing - more specifically, buy and rent. A lot of thinking and rationalizing have me come to the conclusion that we could reach financial freedom in 10 years if we invested in RE, buying a new property as frequently as possible. Buildings don't lose all their value overnight, and it really cannot get any lower than the plot itself. And risks can be significantly reduced with proper research of the area, tenant screening, and buying well below market value. I'm a researcher, so I figured I could do better research than most.
But I'm having second thoughts, despite I have a really good property on hand. I'm not sure about my WHY - single-family homes with a garden are hot on the renting market in my area right now, and there are few out there for rent. Recent laws have made it more difficult to buy a home, so many would choose to rent. At least until they have the payout.
I do realize that I could be in a position to help families to live in single-family homes with a garden. But man, it's a difficult feeling when I have a passion to become free and help pay off my sister's debt when I'm not sure if I am passionate about fixing up properties for rent. But hey, "Love what you do" does not necessarily mean I have to love it.
Does anyone recognize my position? Perhaps it doesn't help that I suffer from imposter syndrome
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