Knowing Your “WHY” for Investing in Real Estate | Tim Hubbard

I'm truly happy and excited that you are back for another week. This week we're talking about maybe one of the most important pieces of our real estate journey. And it's not actually the real estate itself to jump to the point. It's the why behind why we're trying to acquire this real estate. What is it that we really want to jump into that this week? Welcome to Short Term Rental Riches, where we'll discuss investing in real estate, but with a specific focus on short term rentals to help you build wealth faster with as little headache as possible.

So this is a super, super important question and I know a lot of people get into real estate because it is the most historically proven asset class. It's created more wealthy people than any other asset. And it's something that we can do passively, right? So people get into real estate for the money. But if we don't have something driving us or something motivating us, then we might not stick with it that long. We might give up, we might get intimidated, whatever it is. So I feel very, very fortunate to have discovered my why a long time ago. If you guys have gone back, if you've listened since the beginning of this podcast, I started the first episod episode off with just a little bio about myself, but essentially in a nutshell, my why. I was really lucky to be able to travel outside of the US when I was younger, 16 and I lived with a family for a short summer and it totally changed my mindset and I realized that I wanted to be able to always change my mindset and always change the way I thought about things and the things I got to experience. I wanted that freedom and so I found real estate shortly after and that has been what's allowed me to travel wherever I want. And so I don't talk a whole bunch about like this lifestyle, but we have it easier than we've ever had. So I want to break it down this week and first just start with this topic of do we know our why? So for me, I discovered that early on and I feel really fortunate and I am sure, I am positive that is the reason I've been able to grow my portfolio of real estate as I have. And also it's the reason I've made connections around the world and all kinds of cool things that have that have happened because I had something motivating me in the background and I want you guys to be able to discover this and live the lives you really want to. So I read a book recently called Breaking the Habit of Being ourselves. It's by Dr. Joe Dispenza. And I want to just touch on a couple little things because I know a lot of us, we get in our routines and things don't change. And if we're not changing things and we're not changing our perspectives and we haven't already discovered what our why is, then we might never discover what it is, right? So we can kind of get, like, stuck. And I don't think that's a really good place to be, especially if you're doing something that you don't really want to do. And I think that's a reason a lot of people listen to this podcast and a lot of people get into real estate so they can break out of whatever that is. So I want to read just a couple quotes from Joe Dispenza's book just to start this off. I'm going to stare at my notes here so I don't screw this up. But he says, quite simply, our routine known thoughts and feelings perpetuate the same state of being, essentially who we are, which creates the same behaviors and creates the same reality. Creates the same reality. So things aren't going to change. So if we want to change some aspect of our reality, we have to think, feel, and act in new ways. We have to be different in terms of our responses to experiences. We have to become someone else. We have to create a new state of mind. We need to observe a new outcome with that new mind. So essentially, you know, it's like the definition of insanity, right? If we keep doing the same thing over and over, expecting different results, that is the definition of insanity. I'm sure you guys have heard that a lot of times. And in Joe Dispenza's book, Breaking the Habit of Being Yourself, he pretty much says that by the time we're maybe 35, most of the ideas and the ways that we think about life are already programmed in our mind. We've been doing the same thing subconsciously for so long now that it's hard for us to think about things differently. It's hard for us to discover a why or to discover our motivation if we are doing the same things all the time. So I have just a real dumb, like, small example just to illustrate this. But what if. What if you were eating vanilla ice cream every day? You really. You somewhat enjoyed vanilla ice cream. It wasn't like super delicious, you know, but it was okay. And you were eating it all the time because you didn't know that chocolate ice cream existed. And then one Day you traveled to a new town or a friend came to visit and they brought you chocolate ice cream and, and you tried it for the first time and you said, oh my gosh, this is twice as good as vanilla ice cream. Or, this is the best thing that I've ever had. Well, hopefully you wouldn't regret all the time eating vanilla ice cream, but hopefully that allows you to think about things differently. Like, we don't know what we like until we experience it. And if we're doing the same thing all the time, we're not having new experiences and we're not going to discover that. So I think it's super important to talk to new people, to do things differently, to switch things up. For me, that was traveling, because everything about traveling is essentially different, right? I'm super fortunate now to be able to live in some of my favorite places in the world. But I have traveled over 70 countries and I've spent time in hundreds of cities. Lots of them I've revisited. I love the way Colombians say goodbye like four times in four different ways. You know, I love how the people down here in Brazil say imagina nada. Like, like, you're welcome, but like, don't even mention it. Or the way that they drive around here and they give the thumbs up when they want someone to pass. Or there's just little things that can really add a lot of happiness to your life. But if we don't get out and explore different things or at least look at things differently, then we might not experience these. So I just wanted to bring this up this week. If you don't already have your why behind what you're doing, if you can break things up a little bit, read new books, talk with new people, join new groups, do things just slightly differently, you might get some more motivation to help you along your real estate journey. So I think that book's really good. Breaking the habit of being yourself. We'll leave the show notes, we'll leave a link for that book in there and hopefully that helps you to break out of your routine a little bit to discover your why so you can live however you want to live. So a lot of you've probably read or heard about Tim Varus four Hour Work Week book, working four hours in a week. And he had in that book this thing he called the new rich. And that wasn't people being really wealthy. It was people taking advantage of different currencies and taking advantage of remote work, for example, which we now have at our fingertips. And we can do easier than we ever could before. So if you want to get out of the rat race, if you're still in it, you're still working the same job. First we got to come up with a plan. But that plan is going to be a lot easier to achieve if we have some sort of motivation behind this. Now, I know a lot of you are probably saying, you're probably thinking, tim, this is much easier said than done. I have three kids, I have all these bills to take care of. And yes, it is more difficult for some people than others, but we all have the same amount of time in a day, right? First we need to make a plan and then we need to make the time to achieve that plan. So I know it's more difficult for some people than other, but the beautiful thing about real estate and the beautiful thing about short term rentals specifically, and that's why I started this podcast, because I'm so excited about them. I was two years ago and I still am now. It is the easiest way, I have found, to leave the rat race. Through real estate, you can literally free up your income and retire. You know, this of course, depends on your bills and your expenses, but really with as little as one property, I've seen it a bunch of times. I've done it and I know that it's possible. And, and so that's why I really like short term rentals. I like real estate in general. But having this why and having that motivation behind everything is what's going to ultimately get us to the goals that we want to achieve. So I'd encourage any of you out there. I know this was sort of an off topic rant, but it's so doable now. It really is like we have more opportunity. I would say if you have access to the Internet, then you can make it happen. We, we have the world at our fingertips. We can learn whatever we want now. And I think short term rentals is an excellent, excellent and one of the quickest ways to achieve this. So stay tuned. We're gonna have more episodes coming and check out some of the past ones. But I think we have so much opportunity right now. And I challenge you. If you're not enjoying your day to day, if you want to get out and explore the world or you want to do something differently, then make a plan, find the time and take some action. And hopefully you discover your why, if you haven't already. And it motivates you to get to where you want to be much sooner than you think you could. We often overestimate what we can do in a year, but we really underestimate what we can do. Three years. I think that was a Jim Rohn quote. I don't know, it said a lot, but I totally believe it. And so I challenge you. If you're not where you want to be right now, you haven't got your first short term rental yet. Stick with it. It's an easy way to leave the rat race. And I hope soon you are living the life that you want, if you're not already. So thanks for joining in again and until next week, have a wonderful day and a wonderful week and we'll see you next time.