How much are ego and emotions involved in your your STR purchase?

[Collin Hays]

I visited with someone yesterday about a terrific property in terms of ROI. The buyer lives in upstate NY and is looking for something in the Smokies. But the buyer said "that home just doesn't appeal to me...it's too rustic." This is despite really good rental numbers. I asked the buyer how often they, themselves would be coming to stay at the cabin, and she said "Never. It's too far away. It's just an investment."

What I determined is that the buyer is making an emotional decision, rather than a business one.  As I thought back, I have seen this scenario in many ways over the years:  People making business decisions, relying on emotions and ego.   I discuss that more here:

https://www.biggerpockets.com/...

My question for you guys is, how much do you care about what others think of your investment?  Is it like the watch you wear, the car you drive, or the club you are a member of?  Do you make decisions based on your personal taste, or on what "works" the best financially?  Of course, no one is going to admit to making emotional decisions, but I thought it would be an interesting discussion.