The Four Freedoms Your Real Estate Investing Business Should Provide
I got started in real estate 10 years ago for the same reason that you did (or desire to)…I had (and still have) a massive desire to attain freedom in my life. At the time, I was working in construction and I knew it wasn’t going to cut it. I realized that making money was important because that is what would pay for the freedom I desired and real estate seemed to me the most logical path. And here is what I’ve learned in the pursuit of freedom… It has to be earned. A lot of people don’t understand this. Freedom has to be earned. It’s not just given to us. And the reason is because nobody outside of YOU knows what kind of freedom you want.
Every human has a different formula for what constitutes freedom for them. But generally speaking there are 4 categories of freedom that I’m willing to bet you reading this right desire to achieve.
#1. FREEDOM OF TIME:
How do you want to spend your time? What do you enjoy and love doing? What fascinates you the most? Time is the most precious commodity we have. I’m amazed out how many real estate investors and entrepreneurs quickly lose sight of this.
I recently met with a good friend for lunch. His software business is growing and he was considering getting a venture capitalists to fund a huge expansion of his business. He would give up 75% of his business and it would be an all-consuming endeavor to hit specific growth his investor was demanding. I listened and then asked questions about what his real priorities were. After some soul searching, he called me a week later to tell me he decided to not only NOT do the venture deal but he moved his company’s offices 5 minutes from his house eliminating a 45 minute commute to work each day. He said to me that something I said kept ringing in his head, “Bigger isn’t necessarily better.”
Every week I evaluate my business and life and ask, are there things I want to do but don’t because of a lack of time? If the answer is yes for too many weeks in a row, I make significant changes in my life and business to make that time available. In 2013, I took my wife and 6 kids on a year-long RV trip around the country. This was the most rewarding experience I have ever had. (go here to check out our RV adventure on my family blog).
#2. FREEDOM OF MONEY:
In order to do what you love doing, you have to make enough money so that you can pay for the time. In other words, if you want more time, it’s going to take more money to pay for it. In business this means that you pay for systems and other people’s talents so that it frees you up. This is always challenging at first when you start in real estate or any business but as you succeed and make more money, use that money to invest in systems and people to free up your time.
Whom do you want to hang out with? Most people have to hang out with the people they end up with. They get a job and have to work with people out of their control. Having the freedom to choose who you associate and surround yourself, is a huge freedom. I saw my life significantly improve when I was finally able to set the rules for who was allowed to have a relationship with me. Now, I choose to only associate with people who align with those rules. As a result, I have grown tremendously. Remember “You are the average of the five people you spend the most time with.” - Jim Rohn.
Does what you do have meaning? Does your life have a positive impact in the world? Do you feel a sense of satisfaction and significance? This is what drives most entrepreneurs to plow through the challenges and the ups and downs. They have a driving force to make a difference. Steve Jobs said, “We’re here to leave a dent in the universe. Otherwise, why be here?”
The #1 reason why I train others on how to succeed in real estate is because I have a driving passion to help others succeed. This gives me purpose and motivates me every day.
Ultimately, I believe it’s not about the money, it’s about having the freedom to HAVE, DO, BE and GIVE everything that’s important in life.
Is there another “freedom” that’s important to you that I didn’t discuss in the article. Leave a comment and share it with me below.
Until next time, Happy investing,