It's true, real estate is a get rich slow scheme.

(Slight variation of the scheme - vacation renter pays rent, but falls under L.A. rent control laws.)

@Aly W.Interesting that you say that it's not a get-rich-quick scheme. 

Well, your family may be trying to prevent you from being involved in what they consider to be a "get rich quick" scheme.

I think that is typical millennial fantasy and you see people like that all the time who tell you about their latest get-rich schemes. 

One I painted all white and the others I painted a grey/white color scheme.  

There are plenty of YouTubers and such that makes this sound like a get rich quick scheme. 

If that is the case in your market it is more of a traditional pyramid scheme in that once that foreign money runs out or the local investors tie up their capital, or the prices get too high where cash flow markets stop working (looking at you Cleveland), than at that point the demand drops.

You do know that Real Estate is not a get rich quick scheme, right?

Syndicators who brag about their instagram lifestyles without a big old pile of exits... probably bought that lifestyle with their investor's money, whether Ponzi scheme or exorbitant acquisition/management fees.That... or selling high ticket coaching items on the power of real estate.