The Truth About Full-Time Real Estate—What Newbies Need to Know

[Chris Seveney]

Everyone today seems to have a course or preach about financial freedom, passive investing, and how real estate provides passive income—but let’s be real, it’s not all rainbows and unicorns.

For those of us in this full-time, we know the reality: long hours, unexpected headaches, wearing many hats, getting yelled out and tasks we dread but have to do anyway. Whether it’s dealing with difficult tenants, endless paperwork, chasing contractors, or the emotional rollercoaster of deals falling apart at the last minute, there’s always something that makes you question your sanity.

Real estate also isn’t a get-rich-quick scheme. It’s not as easy as it was the past few years, and appreciation isn’t infinite. It takes real effort, smart decision-making, and a willingness to grind through the tough parts.

So, let’s provide those just getting into the space a dose of reality—what’s the one thing you despise doing in real estate?

I’ll go first: Taxes - I am not a procrastinator but this is the one thing I despise doing - and I have a bookkeeper and a CPA doing my books and I still despise doing it. It is also not cheap to have your taxes done - so for those creating LLC after LLC and trying to get creative, I will tell you to keep it simple stupid and not get overly complex. I did it early on and thought to myself - wtf am I doing.