Spend much time around children and you will inevitably here the question “Why?”.
“Why do we have to go now?” “Why is the sky blue?” “Why did Johnny hit me?” “Why can’t I have candy?”
A Key to Understanding
While many adults find incessant “why’s” bothersome and tiring, for children it is a key to understanding.
Their young minds are still grasping the world. They are learning how it works. They are learning to make decisions and choices for themselves and understanding the world around them is key that.
“Why” allows children and adults to understand the reasoning and the logic behind the actions in the world around them.
The Importance of Why
Imagine for a moment that James asked Andrew for a wrench. Andrew goes to the toolbox and comes back with a hammer. What would James think? What would James think of Andrew?
Now, imagine that James asks Andrew for a wrench. Andrew asks why? James’ reply is, “I need to pound a nail into a board.” Andrew goes to the toolbox and comes back with a hammer.
Now, what would James think?
Understanding the why allows Andrew to fetch the correct tool for the job. The hammer makes James’ task easier and helps him to accomplish his goal.
Andrew gave James not what he “wanted”, but what he needed.
What is Your Why?
What is it that you need? What is the reason behind your desire to invest in real estate?
What benefits are you seeking to gain by investing in real estate? Are you looking for cash flow to replace your income? Do you need appreciation to bolster your nest egg?
Each individual has different goals, dreams, fears, and finances. Unique desires require a Charted Course specified to your situation.
The same real estate investment may not benefit you the same way it benefits your neighbor/friend/sibling. It may not be what your journey to Retirement Freedom needs.
Sitting down with a real estate investment counselor or advisor that knows the right questions to ask can make all the difference in the world. They should ask questions first, and help you arrive at solutions only after understanding your “Why”.