I’m going to apologize upfront here, but really, sorry, not sorry.
We have certainly established that, if you can save some money, and invest it in cash-flowing real estate, that money will go to work and generate more money, and rinse and repeat.
But I can’t tell you how many conversations I have with friends and family that start with “Investing passively in real estate is something I’d love to do!’ but is quickly followed by “…but I don’t have any money.”
These are often times 6-figure earners, during a conversation over an overpriced salad, as we get back into their BMW and drive back to our nice air-conditioned office with the fancy coffee maker.
And to be honest, this doesn’t just end with my circle… I have friends who deal with some seriously high net worth clients, who’s assistants drive their Bentley’s to get them the expensive sushi, and they STILL can’t seem to save money.
They earn it, and spend it, and earn it, and spend it, in an endless loop that will chain them to a job for the rest of their lives.
Do I have your attention?
First of all, I understand that everyone’s life circumstances are different. If you’re in an extreme situation, then this probably isn’t aimed at you.
That being said, perhaps you fall into the category of: “I’m so irritated withmyself because I just can’t save money! I want to invest it, but just can’t manage to save up enough!”
If that’s you, then again, I’m sorry, but you need to figure it out.
So, let me try to help you.
Perhaps you need to take a second and consider what you actually need the money for:
•Do you need more money in order to take a trip with your friends this weekend?
•Do you need money to allow yourself some freedom from work for a week to visit that Hawaiian island you’ve always wanted to because you saw it on a show once?
•Do you need money to buy a few more gifts at Christmas this year for your kiddos?
•Do you need money to hire a housekeeper to clean up after you, since you’re too busy at work trying to make money to pay your other bills?
If all those reasons don’t inspire you to save money, then perhaps, just perhaps, those don’t really matter to you…
What I’m talking about, is finding your ‘WHY.’
WHY do you want to save more money? WHY do you want to invest your money into real estate in order to generate more of it? This is not a quick answer type of question, but one that will require you to think long and hard.
•Do you want control? Control that you wished you had as a child?
•Do you want your children to have options you never had?
•Do you want to work for yourself and have the luxury of living life on your terms?
•Do you want to travel? Not for ‘vacation’ but because the road calls to your soul?
I’m guessing, that you have yet to come to a strong enough conclusion to that question to motivate you to make some BIG changes in your life – the kind of changes that will be necessary in order to save more money in order to invest it in real estate.
So please, take the time to consider your why. Because if you don’t, perhaps 10 years will pass, and you’ll end up in the same spot as you are now, wishing you could figure out how to save more money, in order to invest it and change your future some day…
**For what it’s worth, I’m still in this process myself. Working hard to track and control my spending habits, but more importantly, working hard to generate more streams of income, in order to continue investing and set up my family and friends for life. I’m taking on this challenge right alongside you. So let’s GO!