I’m a newbie looking to remodel my current house and obtain a duplex/triplex in a few months. Unfortunately today I Got my bubble bursted by my financial advisor after I expressed my interest in real estate. He basically told me to be wealthy I need the stock market with 401k and stocks. He insisted the fees are ridiculous in RE and insisted to explain that the market is bad right now and it will be bursting soon so I shouldn’t think of property for a few years. He also told me he has worked with RE investors who regret it have gone bankrupt including his parents in laws. He just wants me to put my money in Vanguard and save for 35 years and by the time I retire I will be a millionaire. Is it true that we shouldn’t buy now, and is firing this guys a good idea? I’m too determined to listen to such advice, but I don’t want to make mistakes either.
Thanks!
