Real Estate Investing: Motivational Quotes (February 11, 2014)

st_louis

Over the next month or two, you may notice a string of real estate investing posts making their way through to this blog. My primary objective will always be to focus on attaining early financial independence, but because REI is playing such a pronounced role in helping me get there, I feel like I need to go more in-depth with my strategies, thought processes.

I have quite a few more articles planned, and hopefully readers are finding the posts informative and helpful. One thing that I have noticed is that some of the articles are kind of lengthy… For this post, I wanted to keep things a bit more simple and straight-forward.

Here are some of my favorite REI quotes that I use for motivation:

The basic plan is to start out small, and then upgrade. Start out by owning a house, and then another one. When you have 10, you’re in great shape. You can start paying them off and increasing your cash flow. Then you can start exchanging them into multi-family, and increase the cash flow even more. And then the problem you start to have is where to put all the money that comes in.” -Rische Beeson, Millionaire Real Estate Investor

It takes patience and perseverance, but you can make it big on little deals. You’re not going to get rich overnight, but you will slowly.” -Will Stewart, Millionaire Real Estate Investor

When markets go down, opportunities go up for smart real estate investors. I would much rather play the downturn than the upturn.” -Harry S. Dent, Jr.

The major fortunes in America have been made in land.” -John D. Rockefeller

Don’t wait to buy land, buy land and wait.” -Will Rogers

A man complained that on his way home to dinner he had every day to pass through that long field of his neighbor’s. I advised him to buy it, and it would never seem long again.” -Ralph Waldo Emerson

Real estate cannot be lost or stolen, nor can it be carried away. Purchased with common sense, paid for in full, and managed with reasonable care, it is about the safest investment in the world.” -Franklin D. Roosevelt

And some other ones:

“When riches begin to come, they come so quickly, in such a great abundance, that one wonders where they have been hiding during all those lean years.” -Napoleon Hill, Think and Grow Rich

 “Will power is but the unflinching purpose to carry the task you set for yourself to fulfillment.” -George S. Clason, The Richest Man in Babylon

You miss 100% of the shots you don’t take.” -Wayne Gretzky

 

What are some of your favorite quotes? What motivates you to keep on going?

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Eric
Eric
6 years ago

There is definitely more money in multifamily properties. Properties are priced based on ROI, not some future appreciation value. You are also not bidding against some Yuppie or GenX that has to live in some neighborhood at any price. Cash is king on multi-families, as it is anywhere. It is more difficult to be a multi-family landlord, as your own tenants could poison your building and other tenants leave. A 4-plex or smaller gets a 30-year fixed rate loan. A 5-plex gets you a commercial loan that resets every 5 years or so. My thought is that a 4-plex is… Read more »

Eric
Eric
6 years ago

And my favorite quote…

“Perseverance is the hard work you do after you get tired of doing the hard work you already did.”

Newt Gingrich

Fast Weekly
6 years ago

I like it FI. A nice mix of quotes with a unifying message. I try to live by the Gretzky quote above. Get out there and do it!
-Bryan

alana
alana
6 years ago

Loving the REI posts, keep em coming. I even like the lengthy ones as you really go into the details of how you’ve done things, I like details. Like yourself, I’m looking at early financial independence and REI is the investment ticket that has piqued my interest. You cant really buy a cash flowing property however where I’m from ( small Caribbean island). Folks here normally build their own properties but by the time you factor in the cost of land, current rental rates and a 8% mortgage interest , cash flow is pretty much nonexistent. I will however be… Read more »

Dave @ The New York Budget
Reply to  alana

Agree Alana on this – I am absolutely fine with the lengthier posts!

Liam @ HBS Real Estate

The consistent reminders to get rich slowly are great. Somewhere I read that you need at least five units before the cash flow feels like it’s worth the effort being put forth. For me, this has proven to be the case. When I only had one SFH, I was asking myself how in the world I would ever be able to hit financial independence. At this point, I know the goal is out there and I’m working my way there, it’s just not in sight yet.

Done by Forty
6 years ago

That Emerson quote is my favorite of the bunch. It’s amazing what having a little wealth can do to your perception of money, and everything else.

Marvin
6 years ago

“I would much rather play the downturn than the upturn” that’s how I am with my stock investing. I only pick up stuff that is falling never rising. I’m waiting for this next collapse and will be throwing everything I have at the market.