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All Forum Posts by: Tianyun Zhang

Tianyun Zhang has started 5 posts and replied 32 times.

Post: How do you convince your that SO buying rentals is not gambling

Tianyun ZhangPosted
  • Ypsilanti, MI
  • Posts 33
  • Votes 4
Originally posted by @Thomas S.:

You are in the same position as the majority of investors starting out. You have to work them very slowly by educating them on the difference between good and bad debt. It can be a very difficult up hill battle as they were likely not educated on finances growing up. Ignorance is a huge obstacle to overcome.

It has taken many of us a long time to educate the financially ignorant but it is doable with patients, lots of patients.

As with the saying ...education cures religion.... the same applies to those that do not understand investing in income real estate. I still have to occasionally remind my wife that it is all good debt.

But never lose site of the fact that investing is still very high risk. Get her understanding and onboard or do not proceed. 

 Thank you Thomas. I think that's very good advice. I will prepare to have another conversation with her. 

Post: How do you convince your that SO buying rentals is not gambling

Tianyun ZhangPosted
  • Ypsilanti, MI
  • Posts 33
  • Votes 4

Hi BP,

I don't know if anyone has had the same issue. 

I think I have got enough knowledge and capital to buy my first SFH or duplex rental property, but my wife thinks buying rental properties is gambling. She doesn't want to get into another mortgage because she thinks all debts are bad. She's worried the tenants will sue us and make us broke. She's also worried the tenants are going to trash the properties..etc etc...

So how can I convince my wife that investing in rental property is not gambling and is a great way to financial freedom?

Thank you in advance!