Other people's opinions

[Luis Ortega]

Hello,

Well I know in a way I should really not listen to the critics. Recently I have told a friend of mine that has 5 homes under his belt as investments, that I wanted to get into investing. He has gotten to the point where he is a little negative about REI.
He mentions how its a pain to deal with tenants and how they distroy his property. He mentioned that the money you make from the property will go to the repairs and keep the property under control. That in the end he feels like its not worth it.
I guess the reason I'm writing is because I need some reinforcement physiologically. I know that I shouldn't worry about ones opinion but he is the only person I really know that has that many investment property's. I need some of you that have investment homes to boost me up a little and keep me focused.
Thanks for your guys time and hope to hear from you guys.

Luis Ortega

[Kyle J.]

I wouldn't get discouraged Luis. If it was really that bad, then why would so many people (including your friend) be doing it?

Also, it's hard to take one investor's experience and use that to describe/compare real estate investing as a whole. Afterall, who knows what types of units that investor has, or what kind of neighborhood they're in, or how he does his tenant screening, or even IF he does any tenant screening.

I can tell you that I have several homes, all with great tenants, and have VERY few issues with repairs or damage. Obviously, if you have tenants for any length of time, some repairs and/or damage will happen at some point. But it shouldn't be a case where you're spending ALL of your money to keep up with repairs. If that is the case, you're doing something wrong (likely not screening your tenants properly).

Anyway, don't get discouraged. Talk to others on here, or go to a local REI group meeting and talk to other investors there, and get opinions from people who are doing it right. I'm sure you'll see the silver lining on the cloud your friend is trying to cast over you.