First Rental Property

Hi Everyone,

Believe it or not, some people become obsessed with real estate investing.

This obsession often begins at the early stages when an investor is just starting out.

What does the obsession look like?

1. An individual obsessed with real estate investing may always be reading books related to real estate investing.  Not only would they be reading these such books.  These books would in fact be the only type of books that they would be reading.
2. An individual obsessed with real estate investing would also constantly be thinking about investing, and how they can increase the scope of their investing.  Once again, this would be the dominating thoughts in their head, and they would not give much thought to anything else other than real estate investing.
3. An individual obsessed with real estate investing would always be talking about real estate investing with others.  Perhaps they would be discussing their current real estate investments, or pitching joint venture ideas to people they know.  Again, the topic of real estate would be the only topic that they would want to talk about.

The only way to make sure that you don’t become obsessed with real estate investing is to obtain balance in your life.

How do you obtain balance in you life?

The only sure way to obtain balance in your life is to find something that you are equally  passionate about as real estate investing.

If you love real estate investing, find something that you love just as much.

How do you find something that you love just as much as real estate?

This is the tricky part because this ‘something’ is sometimes not easily found.  The only way that I believe you can find this other ‘thing’ is to try many different things.

Perhaps you like to draw.  If so, focus some time each and every day to drawing. Try to become better with each passing day.

If you like sports, spend some time each day playing a particular sport, until you find a sport that you really, really enjoy.

If music is your interest, allocate some time each day to listen to music, or learn how to play an instrument.

Maybe you like to garden.  If so, spend time working in and improving your garden.

Why do you need balance in life?

I have concluded that being overly obsessed with real estate investing is not good.  I see a lot of people, both new and experienced investors who are obsessed with real estate investing.

In my books, this is not a good idea.

It is not a good idea because these people tend to derive their sense of self worth from their real estate investments.

If one day, they lost all of the rental properties they had, they would be left feeling very empty inside.

This void would be felt because they would have nothing else left in their lives that brought them the same level of fulfillment that their real estate investments did.

They would feel lifeless and discontent simply because they had put all their eggs in one basket.

The benefit of having balance

When we learn to put our eggs in more than one basket, we become happier and more focused.

For example, if you learn to both enjoy real estate investing and painting art work just as equally, if one of these interests departed your life for good (your rental property burns down in a fire), you would have another interest to fall back on (painting artwork), which would be able to bring you the same amount of joy.

If you don’t have balance in your life currently, search for something that brings you joy.

To keep up to date with my blog, enter your e-mail address on the LEFT hand side of the blog.

To sign up for The First Rental Property Newsletter, enter your e-mail address and name on the RIGHT hand side of the blog.  In this Newsletter, you will be able to read about the experiences of seasoned real estate investors, as they will take you through step-by-step how they bought their first rental property.

Onwards and Upwards!

Neil Uttamsingh