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Updated almost 8 years ago on . Most recent reply

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Matt Honeyford
  • Investor
  • Rochester, NY
174
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206
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I have a friend who should be investing, wants too, but is afraid

Matt Honeyford
  • Investor
  • Rochester, NY
Posted

I have a friend who I feel has all of the skills needed to get into real estate investing. This friend and I are constantly discussing properties that are on the market and driving around to look at them. They have the basic skills needed to turn over a property, they've done kitchens and bathrooms, refinished their floors and updated their bathroom. They are also, I think, in a pretty good financial position with a good job. 

I've always felt that real estate investing isn't a risk. The real risk is being dependent on a W2 job. Any words of wisdom for helping me, help them?

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Bob Okenwa
  • Real Estate Agent/Investor
  • Peoria, AZ
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Bob Okenwa
  • Real Estate Agent/Investor
  • Peoria, AZ
Replied

@Matt Honeyford

It's hard to take the fear out of someone's heart if that person is naturally risk-averse. I've been trying to convince two friends of mine to do a flip with me for 6 months and got so much push back we've had to employ a different strategy going forward. From my own experience, it's been difficult trying to change someone's DNA and I just gave up and suggested other things until they got on board. Maybe you could explain all of the different aspects of real estate investing and all of the strategies until they hear something they like.

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