Does Anyone Else Sometimes Just Want to Give Up

[Wade G.]

I realize I sound very defeated and that is because I am. I have been investing for seven years and I think I am done. I do complete background checks of criminal, credit, references, income, everything like I should and I still get trashed houses. Thieves steal condensing units, insurance goes up 10-15% a year. Taxes keep trying to go up, although I have been able to keep that down at least. Cashflow just goes right back into vacancies and repairs...and all my houses cashflow at least $300 per month net. All my loans are 70% LTV or less. I have decided its just too much to do with a full time job. I thought I did it right by buying low like a rehabber would in stable middle class areas, fixing up the houses better than my competition, charging less for rent than the average for the area but having the best house in the area. I read books, joined the local RE investing club, had mentors, it just doesn't work. I am a few thousand in the black overall and if I sell the houses I will have a good chunck of money to do something else with but in the grand sheme of things for all the time and effort I put into it, it just has not been worth it. Unfortunately I am joining the ranks of failed RE investors. I honestly don't know how anyone successful has done it. I think the mentors that I have chosen over the years tend to leave out some very important details...mainly that they all had a huge pile of cash to begin with. I have decided that those who are successful at RE investing go into it with very large funds from a previous business venture or from a very lucrative career in a professional capacity.I don't know, if you have been successful at this then my hat is off to you. I honestly don't know how you did it but I admire you for it.