Is emotions the biggest threat for you?
hello :)
I have been reading as much as I can about real estate investing for the past week, and one article I came across in Reddit made me especially curious to how other investors think.
The article explained: "So you want to be a real estate investor. Congratulations! Hundreds of thousands (if not millions) of people have had this same thought. Over the last ten years the proliferation of "reality" TV has made the real estate investing, in particular flipping, "sexy". As a result, everyone believes they can do it. The reality is somewhat different.
The truth is real estate investing, when done correctly, isn't difficult from a logical point of view. The challenge, as with most wealth building paths in life, is it takes not only knowledge but significant mental and emotional adjustment. After going through the process of becoming a full time investor over the last ten years and watching hundreds if not thousands of new investors disappear during that time, often without buying even one property. My observation is the emotional adjustments are most difficult challenges to overcome."
So this got me wondering and now I want to ask you, the investors:
1) do you agree with the article?
2) If no, what makes you disagree?
3) If yes, can you share some examples of real life experiences that you went through that proves the articles point? what adjustments did you make?