For the past year I have been slowly, but steadily, adding money to my savings. As I saw the number grow I couldn’t help but dream about what I would do with that cash. Should I go to Europe? Buy a house? Buy a fleet of 1967 Super Beetles? The possibilities seemed endless, but I couldn’t settle on one path. Every month a little bit more money went into savings and the dreaming continued. I knew eventually I would find that Something Big.
A few months ago when I stumbled upon Minimalist and Personal Finance blogs, I started to receive more direction on how to discover that Something Big. Even though my future goals were still ambiguous to me, I realized that my current spending habits were counterintuitive to life I eventually wanted to live. I could see more freedom through living a life of frugality and educated spending rather than mindless consumerism. Still, that Something Big was undefined which made saving and frugality difficult because I didn’t necessarily have an end in sight… until now.
Throughout my reading I came across a handful of Personal Finance blogs that put a strong emphasis on Real Estate Investing. I would read stories of people who would buy homes, rent them out, and in turn would generate a monthly cashflow. My reading snowballed to other investing blogs, which led to investing podcasts (shout out to Bigger Pockets which has been my #1 source of inspiration), which led to Real Estate Investment books, which led me to start writing out my investment plan.
Why Real Estate Investing?
I have always been passionate about Real Estate. When I was a middle schooler, there was nothing I enjoyed more than waking up early on Sunday to watch the real estate listing infomercials on our local broadcast stations. In college I was so torn to decide between taking The History of Rock and Roll, which was required by my major (oh the joys of being a Media Studies student!) and Ohio Real Estate Fundamentals. As an adult, I have had the fortune of working in the Real Estate industry and getting my license. It only seems natural for me to focus on investing.
This plan of mine is still in its infancy and there are still many things I need to figure out, such as what market? how can I start networking to build my team? how to assess good deals versus bad deals? buy and hold or flipping? I’m the kind of person who likes to pull the cart before the horse, so I’m trying to balance my “let’s do this now!” attitude with “let’s get educated and take a careful and measured approach to this.”
While I’m trying to sort my way through the details, I’m taking solace in the fact that I have found that Something Big and I’m already having an easier time putting myself in the mindset of working toward that goal. It’s easier for me to live a frugal lifestyle when I know that my hard work is feeding my future.
Talk to me in the comments!
What is your Something Big? What are the steps you’re taking to reach that goal?