Be careful who you play with

By
Real Estate Broker/Owner with Steelbridge Realty LLC
As to interest in RE's rewards/punishments on the broader scale of humanity.... Most in this biz never quite understand there are only THREE types of folks on this planet:

1. Real Estate Investors (lotsa playahs, few players). These folks know almost NOTHING else outside the effective data and trends of a VERY complex and fiscally/physically dangerous investment world. Failures are EXPECTED, survived, learned from, then recovered from if they are HOOKED on the biz for real. They're often poor, but seldom broke, as they save some portion of any success in reserve for the NEXT FAILURE, which will happen if they stay in the game long enough.

2. Non-RE/Fiscal-word-employed Homeowners drawn to second-property investment by GREED or by WANT, seldom by true NEED. These folks CAN be educated to succeed to some degree, but rare are those otherwise-careered folks able or truly willing to put in the time and effort to keep from stepping off a cliff in RE over a couple cycles. The hardest part of educating these folks is the BUY NOW part when prices are crashing, followed by the second-toughest part - SELL RIGHT NOW when the market's screaming insanely upward. Once they've missed either cycle ONCE, they too-often give up in disgust and settle in for a "normal" life of non-RE outcomes. Nothing wrong with these folks, but they can eat your time if you expect more interest and action than you'll get from the majority.

3. Those to whom YOUR daily stumbles/successes somehow become important to measure THEIR lives by. They'll never achieve, they'll drag down everyone around them over time and they'll likely die alone or live & die sordid lives while tied to someone EXACTLY like them.

Crossing the lines between the three with unrealistic expectations is a recipe for disaster, but a meal far too many have tried to enjoy in good times. The after-dinner celbratory gatherings can quickly turn into rope-fests, though all the playahs in the good times were EXPERTS 'til the cash-calls overcame the cash-on-hand. Then SOMEBODY has to hang, and the FIRST victim is generally the Suited Dude who "got me into this mess by controlling my mind".

Don't be him - INTERVIEW closely those who desire a seat at the table, ensure they can hang through tough times and have done so in the past without moaning. The end DOES justify the means if the valleys don't kill off the players before PAYDAY rolls around again as it always has..

Most amateur RE "expert investors" remind me of the 3rd week of a month in the Military. Those with money make LOTS of money by lending theirs to those who won't have any by FRIDAY next. Those who can't make a month's pay last a month HATE the others, but seldom speak ill of them 'til the hanging rope is over the limb when payday won't cover the loans from last week.

Don't be him, either I've been both, but not in recent times, nor EVER in the RE/Mtg periods of life.

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