Getting discouraged. Everything is going wrong at once.

[Ryan Rush]

Everything has gone wrong all at once. I have 13 doors- which you would think would be able to handle about any issues that popped up, but the issues have happened too fast. I had insurance require roofs to be done- siding changed out - one thing after another after another. I still have two major things I need to do (a roof and some steps need repaired) and I have already spent all the savings and maxed out a couple cards. It’s been a terrible 4 months. Anyone have experience with this, and any advice? I’m feeling pretty anxious right now.

[Dennis M.]

Landlording is difficult and getting things off the ground can be extremely tough especially when your buying distressed properties and have a lousy tenant base to pick from .Don’t ask me how I know ( I felt the same as you many times) . I’d first Consolidate those high interest cards into a line of credit or bank/credit union loan with a fixed reasonable rate . Focus only on things that must be done to be habitable and take no tenant requests for upgrades or frivolous stuff waste no money in your personal life that’s not necessary . Get your ducks In a row and persist and push on do as much work as you can without paying people to do it , that means 80+ he work weeks if that’s what it takes . It’s a struggle at times and a fight to be victorious but you must have laser sharp focus and keep plugging away . Never ever ever never give up I don’t care how bleak it looks . There’s a reason 97% of population is not a real estate investor and of those that are in the 3% that are , most all of them have only one rental . We are a rare breed and it can be overwhelming but if you push through you can make it .i will leave you with a quote from Calvin Coolidge -

Nothing in this world can take the place of persistence. Talent will not: nothing is more common than unsuccessful men with talent. Genius will not; unrewarded genius is almost a proverb. Education will not: the world is full of educated derelicts. Persistence and determination alone are omnipotent.