People ask, "Do these pants make my butt look big?".
Does a Rolex on your arm make you look wealthy or does your Real Estate portfolio actually make you wealthy?
This week I had a client who purchased his first 4-Plex. Understandably it felt a bit scary for him and in the midst of the transaction he'd been away on vacation and seen a lovely Rolex that he really wanted.
He said, "it would look so good on my arm".
I told him that the satisfaction would be short-lived and that luxury possessions are a trap that society says we need.
I told him that if he bought the 4-Plex instead, managed it well and paid off the mortgage, in 10 years he could buy a Rolex or take a holiday every month if he wanted.
Our society is so focussed on instant gratification.
Don't worry about how your life appears to others. Focus on your goals. Buy houses/4-Plexes if you want and carry on.
Think long term, have a vision for your life and follow it.
Let your property pay for your toys and trinkets!
Remember: no one will want to rent your Rolex but they will want to rent your 4-Plex.
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