My wife and I just got back from a 10 day holiday. Now that we have a little human in the mix, we prioritize these getaways even more.
I don’t look forward to holidays the same way I used to when I worked the 9-5 grind – of course there are times I need a mental break but on the whole, I love what I do. Usually, I can’t even differentiate what day of the week it is. I work almost everyday, but I get to control my hours and spend time doing the things I want to – like having breakfast with my wife every morning, morning cuddles with the baby – I can’t complain!
But on the flip side, life sometimes tends to get a bit messy. 10 days away when you run a large real estate portfolio (doing your own property management), have clients, produce your own marketing and blog/video content, manage multiple renovations – well, things can get a bit crazy. (A picture of my basement/home office below – this is pretty typical!)
Yesterday during dinner I told my wife that I was planning my next few property purchases for 2017. She stopped what she was doing and just looked at me – and then said “You are always 10 steps ahead aren’t you”
“Push the throttle down and let the chaos begin!” – is a quote I heard at a seminar I went to some time ago.
Yes – life is a bit crazy. Yes – it can be overwhelming sometimes.
But is it worth it – hell ya!
Are you still waiting for the stars to align – well guess what, they probably won’t EVER!
Taking ACTION is the single most important thing you can do.
And often time, this means flying by the seat of your pants, and learning as you go.
A few years ago I went to a weekend crash course that sparked my interest in creating legal basement apartments. Before the end of the weekend, I had already begun looking for a property to start working on – and within a few weeks I had already purchased something.
And let me tell you about this project. I bought something that was not ideal for a beginner, I had a ton of extra structural work to do and it took longer to complete than anticipated. And this was all happening while my wife and I held down full time 9-5 jobs, ran a small business and had a reasonable sized investment portfolio. You can bet that we went to bed some nights with our heads still spinning.
But guess what – it was the best hands on education I could have asked for. I have gone on to replicate this many times since and I now teach other investors to do the same!
What motivates me? – the cost of lost opportunity is too high.
I read an article published by Global New that said “A person who is 30 years old with a yearly salary of $50,000, wants to retire at 65, will need $984,889 saved assuming they plan to retire for 25 years, while spending $45,000 a year.”
Seriously? How the hell does one go about saving almost a million dollars. With the cost of living (look at the real estate prices) on the rise……how can this be a reality for most people?
Not to mention the increased cost of raising a child (university prices continue to rise exponentially).
If this isn’t enough motivation to do SOMETHING – what is?
Short term pain = long term gain. So my advice, go ahead – create chaos in your life. Take the plunge (I know this all sounds very cliche) but seriously…..just do it! Now it the perfect time to work on your 2017 goals.
Take risks (calculated ones of course) and find out ways to make your money work for you. Whether you are 30-40 or even 50 – it isn’t too early or too late!
So until next time, happy Canadian Real Estate Investing.
Jose Jafferji, REIA