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As a fellow real estate buy and hold investor, I wrote a pretty grounding article on what it takes and what it is truly like to be a real estate investor.
http://curerabbitears.com/2016/03/13/reality-of-investing-in-real-estate-with-a-full-time-job/
It is not always as glamorous as people and gurus make it out to be. It takes true passion and support from everyone including; spouses, friends, family, and your real estate team.
I really hate when experts over-hype what it takes to succeed in real estate investing. It gives the industry a bad wrap when people fail. It also makes the industry look bad when real estate investors use immoral means and methods to buy and sell deals.
Further more when I look for deals, I always stumbled upon accidental landlords. The one major issue that I notice is that most people that are investing in real estate are "accidental" investors. They were forced into the investment and now have to rent out their properties because they cannot afford to sell it for a loss...
This creates three problems
1) They start there investment off wrong- every investors knows that starting the investment wrong is a horrible position to be in.
2) They do not treat their accidental investment as a business
3) And because of #2, the investors actually open themselves up to so much more risk which can be more of a liability because they can get sued. And the amount of the law suit would most likely be more than if they took the original loss and sold the place.
When you have a full time job, or are an accidental investor who is not fully committed, the ramifications could be a lot worse for you if you are not fully prepared.
Would you agree or disagree?
What was your biggest life challenge that YOU faced along the way?
http://curerabbitears.com/2016/03/13/reality-of-investing-in-real-estate-with-a-full-time-job/
It is not always as glamorous as people and gurus make it out to be. It takes true passion and support from everyone including; spouses, friends, family, and your real estate team.
I really hate when experts over-hype what it takes to succeed in real estate investing. It gives the industry a bad wrap when people fail. It also makes the industry look bad when real estate investors use immoral means and methods to buy and sell deals.
Further more when I look for deals, I always stumbled upon accidental landlords. The one major issue that I notice is that most people that are investing in real estate are "accidental" investors. They were forced into the investment and now have to rent out their properties because they cannot afford to sell it for a loss...
This creates three problems
1) They start there investment off wrong- every investors knows that starting the investment wrong is a horrible position to be in.
2) They do not treat their accidental investment as a business
3) And because of #2, the investors actually open themselves up to so much more risk which can be more of a liability because they can get sued. And the amount of the law suit would most likely be more than if they took the original loss and sold the place.
When you have a full time job, or are an accidental investor who is not fully committed, the ramifications could be a lot worse for you if you are not fully prepared.
Would you agree or disagree?
What was your biggest life challenge that YOU faced along the way?
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