I think we all know real estate investing is awesome, right? All of us on here are in it for some reason or another. Or maybe you are newer and still trying to convince yourself to take the leap. My only warning about taking that leap is real estate investing can be very addictive!
So what is it exactly about real estate investing that keeps us all hooked? Some of these might be really obvious, but it’s good to put everything into perspective sometimes.
Top 10 Reasons Real Estate Investing Rocks
1. You can make a lot of money!
Probably the most obvious. I don’t think of us would be in this if there wasn’t money to be made. This is a cool one though because there are actually different styles of making money in real estate. You can make big chunks in shorter amounts of time, like with flipping, or you can make passive money over the long run, like with rentals.
2. You can’t get fired.
You can quit, but you can’t get fired. Kind of freeing, isn’t it? Even if you mess up so bad even your mother would want to slap you, you can’t get fired. If that’s not empowering, I don’t know what is.
3. You can do it anywhere, anytime.
I say this as I always preach about not being able to invest in CA. However, I’m usually talking about buy and hold investing when I’m talking about CA. I do believe flipping can work great in CA (assuming you have mega capital to start). Wherever you are, there is some kind of investing that will work there. It may not necessarily be the most optimal or what you want to be doing, but you can do something. Or, with virtual world now, you can handle rental properties in one area from anywhere else in the world you want. My properties are in Atlanta but I’m not usually in Atlanta, or anywhere near it, and can still manage my investing. Thank you, internet. You can even handle flips from far away. Not as easily, but still doable.
4. Hello tax write-offs!
There’s nothing like sticking it to Uncle Sam better than taking back some of your tax money. Tax benefits are different for every style of investing, like rental properties have better tax benefits than flipping, but regardless of what extent each project gets your taxes back, it’s one of my favorite parts of real estate investing. Ever since I started buying rental properties, my tax returns have been 3-6 times what they used to be!
5. There are some seriously cool people in the industry.
I remember the first investors’ weekend I went to in Nicaragua. It was the first time I felt like I was with a big group of people who were the perfect combination of smart and fun. I mean, if you’re in Nicaragua you clearly have some sense of adventure which makes you more fun by default, but it was the investor aspect that really stuck out. Investors are usually pretty smart, in some form or another, but they are also working towards a common goal which is a better life through financial means, which likely means they want the means to have more fun or enjoy life more.
6. It is a means to anything you want.
Real estate investing gives you the financial resources to do whatever it is you want to do. Some people just want a more secure retirement fund. Some people want to stop working completely. Some people want extra income to fund activities, adventures, savings accounts, toys, fancy dinners, whatever. Some people want lifestyle design. Whatever it is you want, you can find a way to fund it. I want to be financially free (who doesn’t) but my rentals haven’t gotten me that far just yet. But while I wait for that, real estate investing has given me the opportunity to start my own company which has allowed me to have full lifestyle design. I’ll take it!