Reconciling Conflicting Information / Dealing with Negativity

Reconciling Conflicting Information / Dealing with Negativity

Jewel B.Pro Member
New to Real Estate · Lehigh Valley, PA · Member since 2021 · 352 posts · 120 votes

Happy Weekend everyone,

Today I want to ask how everyone deals with contradictory information, negativity and discouragement, and naysayers.

What I mean by this is that with every market or strategy one chooses, you will find plenty of people saying it's great and plenty of people saying it's terrible. How heavily do you weigh the doomsday advice and articles in your decision making? How do you know what's real or not?

For example, looking at one market people might say great cash flow or ROI and others might say it's terrible and there's no deals around. Or with STRs some people might say they're great and others say it's oversaturated, share horror stories, say occupancy and revenue is low, and generally make it sound unappealing. And not just individuals out of the game but individuals in the game. And not just individuals but also news articles such as this recent one.

How do you settle on a market and strategy and move forward when your head is spinning with totally different information?

Thanks!

P.S. My interests are rental property investing in LTRs/MTRs/STRs, student housing and Section 8, SFHs and small MFHs, FHA househacking locally in Pennsylvania, and OOS investing in the Midwest/South/Sunbelt, particularly Ohio, Indiana, West Virginia, or North Carolina. Value adds. Clearly not all at once :)

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Bruce WoodruffPro Member
Contractor/Investor/Consultant · San Diego / Phoenix · Member since 2021 · 12k+ posts · 15k+ votes
3y

Run your own numbers, learn your markets, figure out your comfort zone...... and forget what everyone else says.

See this reply in the discussion

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  • Jewel B.Pro Member
    OP
    New to Real Estate · Lehigh Valley, PA · Member since 2021 · 352 posts · 120 votes
    3y
    Quote from @Michael Swan:

    Exactly @Carlos Ptriawan

    It is passive if you want to lose your ***!! I protect my assets and my family and friends money like a little pit Bull.  You can trust to an extent, but you must have checks and balances and verify everything. I retired from my teaching job 2 school years ago and it is a huge duty, responsibility, and obligation to me to do so!!!


    Feel free to pick my brain.  It is my pleasure, honor and privilege to do so!!

    Swanny (OG BP Podcast 238 Guest with Brandon Turner and Scott Trench)

    There's a number of comments here about it no being passive, although I never said I thought it was 😅 I am self employed with a flexible schedule and have no issue putting in time and work 😊 I have Brokerage accounts for my 100% passive investments

    Thank you! I'll have to check out your podcast. I'm grinding away through the rookie ones currently. Usually a few a day
  • Jewel B.Pro Member
    OP
    New to Real Estate · Lehigh Valley, PA · Member since 2021 · 352 posts · 120 votes
    3y
    Quote from @Mike Dymski:

    “Don’t be distracted by criticism. Remember, the only taste of success some people have is when they take a bite out of you.” -Zig Ziglar

    The forums can be tough to get good information.  Most replies to posts from newer investors are disguised marketing activities and sales pitches.  And then we have all the 'market crash' opinion posts that don't help at all with how to win at investing.  The fastest path to execution (and real information) is analyzing real opportunities (and making offers).

    Great quote! 

    I appreciate the feedback
  • Realtor · Albuquerque, NM · Member since 2014 · 109 posts · 79 votes
    3y

    Keep in mind that most of the headlines and stories are "trying to predict the future". Nobody is very good at predicting the future.

    I don't give much credence to those trying to predict the future. I focus more on articles that provide information about what happened recently. I take that information and make my own decisions. Look at the numbers when it comes to any deal you are considering. If the numbers meet your criteria, then the deal is good. If you don't have criteria, then you need to establish criteria for your situation!

    Every article (and the company behind the article) you read has some type of agenda, ie, more clicks, politics, MAKE MONEY. I don't trust any one article I read, hear on the radio, or watch on TV. EVERY company providing news has an agenda. Verify everything.

    Another option is to ignore most of the BS that is put out by corporate media.

    I started my real estate career in 2010 when all the "experts in corporte media" said real estate and housing was dead. They were all wrong, worked out great for me.

    Real estate investing is not a get rich quick scheme, it is a long game!

    Try to think logically. Ask critical questions when someone is trying to sell their agenda.

    Pick a strategy, analyze each deal, make sure they meet your criteria, make your decision on each property.   Don't worry about the noise in the background.  You must take action when the right deal comes along.

    Here is one thing I learned in life. I wish I had fully understood this earlier in my life. Everything is cyclical, everything goes up for a while, then everything goes down for a while, and the cycle repeats itself.  This applies to interest rates, housing prices, stock prices, and more.

    Another fact is that the economy will slow down when interest rates are increasing, the economy will expand when interest rates are declining.

  • Member since 2019 · 7k+ posts · 4k+ votes
    3y
    Quote from @Jewel B.:
    Quote from @Carlos Ptriawan:

    all these conflicting things are coming because someone in bigger pockets say real estate investing is passive and there's huge money to be made LOL

    I'm busier 3x in real estate than in my actual w2 job 


     What keeps you so busy? What type of real estate and how much?

    anyhow, I'm more than happy to put in work and eventually replace my job with it if possible. I'm self employed and flexible so work is no issue


    there's always surprise in real estate, crazy surprise, if I can share my agenda you will be surprised and would leave biggerpocket immediately LOL ... I have few LTR/STR in the state and out of state. In reality, this is more like business, with zero passive activity.

    For me, real estate is not worth replacing my actual job, it's a very high paid job and I love it. I can do real estate because of two things:
    1. my main job highly supports real estate investments.
    2. I have a few other investments that already made large gains. I invested since 1997.

    also it's just not about time, it's also about money and connections and knowledge. if it is only about time, a homeless men can do it.

    When people said conflicting information, they are saying the reality, it's not negativity, it requires tons of effort, more like entrepreneurship.

  • Austin McClainBusiness Member
    Real Estate Agent · OH · Member since 2021 · 348 posts · 602 votes
    3y

    Ohio is a strong market. I like Columbus and Dayton Ohio. Columbus is seeing companies like Intel and Amazon investing Billions into the area. 

    https://www.fool.com/investing/2022/02/15/why-are-so-many-companies-moving-to-ohio/

    Dayton is good because prices are lower and you can cash flow well there. 

  • Real Estate Agent · Dallas-Fort Worth, TX · Member since 2021 · 117 posts · 69 votes
    3y

    @Jewel B.  I've found that having a mentor in your preferred method of investing is invaluable.  It's not always easy to find that, but it's sure worth it.  A good mentor has experienced the ups and downs of different markets and strategies and can help avoid the pitfalls of different markets.

  • Jay ThomasPro Member
    Real Estate Agent · Houston, TX · Member since 2021 · 1k+ posts · 715 votes
    3y

    It's so easy to get caught up in what everyone else is doing, but remember that you are the one who knows best when it comes to your finances. Instead of following the herd, take time to figure out what works for you and stick with it. Run your own numbers, learn your markets, and figure out your comfort zone; ultimately, you'll be the one who reaps the rewards. Don't let anyone else dictate your financial decisions; take control and make the best decisions for yourself. The more informed you are, the better off you will be. So do your research, analyze your investments, and keep a level head when it comes to managing your money. After all, it's your future that you're protecting. Good luck!



    It's so easy to get caught up in what everyone else is doing, but remember that you are the one who knows best when it comes to your finances. Instead of following the herd, take time to figure out what works for you and stick with it. Run your own numbers, learn your markets, and figure out your comfort zone; ultimately, you'll be the one who reaps the rewards. Don't let anyone else dictate your financial decisions; take control and make the best decisions for yourself. The more informed you are, the better off you will be. So do your research, analyze your investments, and keep a level head when it comes to managing your money. After all, it's your future that you're protecting. Good luck!
  • Jewel B.Pro Member
    OP
    New to Real Estate · Lehigh Valley, PA · Member since 2021 · 352 posts · 120 votes
    3y
    Quote from @Carlos Ptriawan:
    Quote from @Jewel B.:
    Quote from @Carlos Ptriawan:

    all these conflicting things are coming because someone in bigger pockets say real estate investing is passive and there's huge money to be made LOL

    I'm busier 3x in real estate than in my actual w2 job 


     What keeps you so busy? What type of real estate and how much?

    anyhow, I'm more than happy to put in work and eventually replace my job with it if possible. I'm self employed and flexible so work is no issue


    there's always surprise in real estate, crazy surprise, if I can share my agenda you will be surprised and would leave biggerpocket immediately LOL ... I have few LTR/STR in the state and out of state. In reality, this is more like business, with zero passive activity.

    For me, real estate is not worth replacing my actual job, it's a very high paid job and I love it. I can do real estate because of two things:
    1. my main job highly supports real estate investments.
    2. I have a few other investments that already made large gains. I invested since 1997.

    also it's just not about time, it's also about money and connections and knowledge. if it is only about time, a homeless men can do it.

    When people said conflicting information, they are saying the reality, it's not negativity, it requires tons of effort, more like entrepreneurship.

    I also enjoy my high paying job and it also supports my other investments. Thanks!
  • Daniel TanasaBusiness Member
    Realtor · Houston, TX · Member since 2019 · 351 posts · 174 votes
    3y

    @Jewel B.

    A good way to counter all this confronting information and click bait is to try to crystallize a strategy based on offline information, where you get a path from someone that already did it, from the beginning until you see the results you would like for yourself. Books are a great way to get clearer view over what to expect on the road. And you get to see the whole road from start to finish without being distracted by an add or contradictory click bait information. After you see a few different way to make it in a few different books, choose the one you think is for you and go for it. And don’t switch it until you see some success.

  • Member since 2019 · 7k+ posts · 4k+ votes
    3y

    So you have to imagine things like Biggerpockets, financial advisor, and market data ; to use them as proper tools and context. For example, Biggerpocket is extremely useful for the technicality aspect of real estate investing (eg, extremely useful information on how to manage/work with tenants; to understand tax rules and regulations and understand what needs to be done during certain situations) ; but it's less useful when we're asking for opinion for investment (which city to invest,etc). This is business, think like there're one hundred people who want to open Chinese restaurants, some entrepreneurs would be successful because they do things right, but some will leave the restaurant field immediately because it's too much work to manage. So when you ask for more advanced learning, then you go ask investors that had done that, in a much higher level. When folks are telling their story, it's not negativity, it's real because each person's experience is different. The biggest mistake for example, if you believe what I said 100% at face value that you will be a guaranteed millionaire, in real estate very hard work is required. LOL.

  • Kerry Noble JrPro Member
    Investor · Indianapolis, IN · Member since 2018 · 2k+ posts · 1k+ votes
    3y

    I dont operate with blinders on like a horse in the KY derby......I keep studying books and podcasts and consult with certain people but thats it. 

  • Bonnie LowPro Member
    Lender · Asheville, NC · Member since 2016 · 1k+ posts · 1k+ votes
    3y

    Tune them out. Do your research, run your numbers conservatively and trust the DATA. And especially do not trust news articles - the "news" today is nothing but click bait. Inflammatory headlines get clicks. There's no integrity in journalism any more - the exceptions are rare. And remember that for every horror story there is often a back story the teller is not sharing with you. As in, what was their part in the debacle? Very often, they share in the blame but are more interested in getting validation than taking accountability.

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