A talk in a bar about real estate investing

[MarieChele Porter]

Hey everyone,

I just wanted to bring up a short talk I had with someone while getting food at a bar before the warriors game. I met these 2 guys in a bar who were friends (I was by myself). They were really nice and we just began talking. Eventually, we talked about careers and I mentioned that I wanted to get into REI and day trading. What came next actually kind of shocked me. One on the guys said "well don't get into real estate investing". He began to explain to me how "iliquid" the real estate market is and gave this example of how I would just have to wait for years until I ever seen a return when the properties were sold. (Never mentioning at all the ability to receive passive income in the process). I tried to get that point in a little but with all the bar noise I kind of just gave up.

The reason I'm hoping to start a conversation about this topic is the fact that you should talk about your real estate investing ideas with anyone who will listen. The reason is you never know what your're going to hear. When I first realized the power of real estate I thought "this is crazy, this can't be real, why isn't everyone doing this?!" But instead of letting his negative feeling about real estate investing put me down or  make me not want to do real estate investing anymore it opened my eyes to the thoughts and answered my questions of why everyone isn't doing this. It made me realize that I can do this along with all the other people who are doing it because there are people out there who will just never do it and I'm sure he's not the first who I'll meet. It made me feel good about the fact that everyone doesn't want to be a real estate investor so that's 1 person who I may rent to and not compete with.

I know this is a long forum post and probably will be better off as a blog post but I don't have one yet and just wanted to start the conversation. Thanks for reading if you got this far. Maybe I will make a blog now... :)

[Anthony Gayden]

@MarieChele Porter

I talk with everyone who will listen about real estate investing. However I never take advice from those who do not invest in real estate. A lot of the information they spread is garbage.

There are also a lot of people who seem to think they know all about real estate investing based on their negative experience renting out a former primary residence. I don't listen to them either. They almost always paid too much for the house, and the rent can't cover the PITI. Not only that but they put a garbage tenant in the property who ends up trashing the place. Then they go around and tell everyone how awful it is to be a landlord and that real estate investing is a waste of time.