keskiviikko 4. syyskuuta 2019

Who we want to be?

Choices and decisions define us. I have had a little pickle in front of me for a while. I have had a great chance to build up wealth quite nicely and quite easily. Investing is great and being a landlord is great. But still when one invests there always should be some sort of a plan:

- what?
- why?
- how?
- when?
- how long?
- risks?

The list could probably go on forever here. But if one does not have a plan then at least one should have a reason. It really doesn't matter is it to save up money to travel around the globe or to buy a glorious house or just to build up wealth... Or pretty much anything... There are and there will always be situations where you need to make "the tough decisions" and make up your mind whether you use your investments or not.

My toughest decision so far, considering my investments, came around the corner just lately. I decided to sell my 2nd real estate investment purchase. What pushed me over the edge was when my so far best tenant informed me that she is moving. I have had a little itch to sell the apartment for a while now and that situation was the break point. It was not so hard to find a new tenant, so I did not sell the apartment eventually. I did list it though. And yes the asking price was quite high too. Now I do have another pickle to chew on and I am still about to sell one or two of my real estate investments.

I have tried to reason this decision with rational explanations like:
 - I can make loads of profit (and pay loads of taxes)
 - I can make my life a little easier (moneywise because of the profit and personal effort-wise because one less apartment to manage)

One main REASON I want to remind myself of, is that also I want to live, really live, and enjoy life. Investing, in my opinion, always should have some sort of a reason and mine is to be able to make my own decisions more freely. One should be able to cash out those investments and use it... on... something... whatever? Well yea. You don't want to save for your funeral.

I think this has been financially one of my biggest decisions yet, probably after purchasing my first house, but still. One could have always refinanced? Nah, not always and not this time. Banks would have never appraised the appartment to have so high value AND I did not have sufficient income to buy more real estate or to have more leverage.

One other reason was that my time in my first house was coming to an end and it was time to stack up and prepare to buy another house, I did and do have a plan. You need to know who you are to become the best of you. I want to be able to do things I want. Investing and being a landlord is fun but eventually you might want to cash out an investment.

Over and out.

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