Top Tough Decisions As Multifamily Investor or Syndicator

[Dan Handford]

Let's start a list of the top 3 tough decisions you have faced as a multifamily investor or syndicator (or both). 

Who wants to start us off on this discussion? Begin by listing your TOP 3 tough decisions that you have made. 

NO WRONG ANSWERS HERE

[Chris Tracy]

I made a really tough decision recently... I'm so happy you created that podcast @Dan Handford because I need someone to talk to... lol.  I used to work for a guru in the apartment investing space, I learned a lot and we became good friends.  The tasks I did were entry level (like $13/hr work... gotta start somewhere right?).  My guru friend asked me to help recently and I officially resigned and had to decline the offer.  Saying no to someone (especially a friend) is one of the toughest decisions I ever made.  Why did I decline?  Positioning.  The event my friend speaks at is the same one that I go to network at.  It worked when I was first getting started, but now it would be like, "Oh are you the helper guy that was with the guru? lol"  My credibility would be shot trying to move forward and do deals, etc.  Plus for me... I felt like it was a mindset issue and it would be a big step backwards.  My guru friend would disagree with my thought process... but that's my story and I'm sticking to it.  lol... very tough decision... Thanks Dan for letting me vent.  I needed that!  lol

Ok let me see... I need 2 more?  

I recently gave up a FT position at my job (I work occasionally as a sub now on the weekends) to focus more on real estate goals.  In this uncertain and challenging economy... that was tough.

I don't think I have a third one... lol