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Obstacles to Investing: Friends and Family

Other than a spouse, the other major influence on people’s decisions is the opinion of their friends and family.  I guarantee that if you start telling your friends and family you want to invest in real estate, several will jump in with horror stories they have heard about nightmare tenants, or my personal favorite, “You’ll have to fix toilets at two o’clock in the morning.”

 

I too encountered these same negative people when I was considering making my first investment.  Now, years later, some of them come to me for investment advice; the rest still tell me what a bad investment real estate is.  I just smile and say, “I’ve had great luck investing, I’m sorry you didn’t have the same experience.”

 

I recommend that if you want to achieve and enjoy success, eliminate these negative people from your daily life; at the very least, start reducing the amount of time you spend with them.  I know that sounds like a bold statement and probably feels uncomfortable, especially if they are significant in your daily life.  I have people like this in my own family; I try to see them only on family occasions when lots of other people are around, so I’m not forced to talk with them one on one for extended periods of time.

Another strange phenomenon you will experience is that once you start to experience success, some people whom you consider close friends or family don’t seem to be happy for your success; instead, they seem resentful.  It’s not that these friends and family members are necessarily jealous, or want you to fail; it’s that when you experience success, it causes them discomfort because they are forced to evaluate what they are doing or not doing in their own lives.

 

Seek out and surround yourself with successful, positive, like-minded people.  If you don’t know any, go find them.  These are the people with whom you want to share your time and energy.  There’s a saying, “If you hang out with garbage, eventually you start to stink.”  This advice applies not just to real estate, but also to your life; the negative influences in your life will start to chip away at your positive attitude.

 

 

 

 

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