The other day I was onsite at a renovation from another Investors house that was currently being rehabbed. When he was talking about the reason he bought the house one of the things that really stood out to me was emphasis on the value of time. You see with every Real Estate deal “the numbers” are very important, the acquisition cost, rehab costs, holding costs, etc. but nothing is more important than the “Time” it takes to buy the house, fix it up, and sell it because time is the only asset you can never get back. He stated that he could always make money regardless of what happens with this house, but he will never be able to get back the time he spent on this house.
For some reason I could not get what he said out of my head and it made me think deeper…
When we have jobs and we accept a salary or hourly wage we are actually selling our time to the Employer. For most people that rate of pay varies between $10-$20/hr, which means the Employer owns that employee for the amount of hours that employee works. When I had a job my base “Annual” salary was $54,000/yr plus bonuses. At first I thought “wow this is pretty good,” but after thinking about the value of time I realized what I was giving up was way more valuable than the pay I was receiving. My company owned me for the “ENTIRE” year for only $54,000, now of course I had the potential to earn more money, but because I was required to work full time (40 hours a week) I didn’t have time to work on building my business, time with family was very limited, I didn’t have time to write this blog (lol), and personal time for myself just didn’t happen. Now that I am 100% Independent “ALL” my time is directed where I want it to be.
So this made me think even further…
If I was to have a job at what price would I feel would be worth “Time” away from living my life the way I want to? $100/hr, $500/hr, $1,000/hr? And the answer without question is there is no price worth my time away from me living my life the way I want to, because “Time” is priceless. Now I have the freedom to make decisions that only benefit either myself, my business, or my family, and that decision can not hurt either one of these. Although my previous job gave me a nice income it killed my business, gave me little time for my family, and no time for myself. For these reasons jobs to me are just way too expensive.
Spend your time wisely.