I purchased my first home when I was 20 years old. I have purchased and sold several single-family homes since then. My husband and I attempted our first investment property in 2012 when we moved from a nice small single-family home to our current home. We decided to rent it out and “see how it goes”. It was fabulous, and we had crossed our very first fear hurdle in becoming real estate investors.
In 2018 we decided to get serious about real estate investing and started looking to purchase our first 4plex. Of course, as we were searching for our 4plex, we were very excited about the adventure and would talk about it to everyone. We received a lot of negative feedback from our engineer friends (I used to be an engineer and my husband is still an engineer), such as, “Smart, buy when the market is peaking” or “Oh, so you want to be a slumlord”. Since this was our first 4plex purchase, some of these comments did shake our confidence. But we were able to dust ourselves off and keep chugging along. Upon reflection, I had considered investing in 2009 and many of those same people said, “That’s stupid, don’t buy now! The market is crashing. It’s too risky”. At this point I have come to realize that those people will never be real estate investors. Heck they probably have no intention of ever being a real estate investor either. But I am a real estate investor and I have wanted to invest in real estate since I was 20 years old. Seriously, I even purchased and sat through the Carlton Sheets Real Estate Investing Program, complete with 12 CD’s and a book!
I am also an Aerialist. It is extreme, and most people will never do aerial silks. If someone was to tell me that I was crazy for doing aerial silks, I would totally understand. I climb up a 15ft silk then start flipping upside down, hanging and dropping from the ceiling. Just the thought of doing that makes most people uncomfortable. If someone was to tell me I was crazy or stupid for doing aerial silks, I would smile, wink and nod. I get it and their opinion on the matter means nothing because I know they have zero experience and their reference point for their comment is based on fear.
What I had to realize is the same is true for my smart engineer friends. I can see how they would say I am crazy and stupid. Just like dropping from a 15ft silk, there are risks. It’s scary! But what I understand, and they don’t, is that I have practiced a lot. I started simple and grew my skills over time. I have learned how to minimize my risks. If you have never even climbed a 15ft silk, why would you consider climbing to the top and attempting a drop. That is a sure way to rock your world in a very bad way! The same is true for real estate. I would not recommend that you make your first home purchase alone. I also wouldn’t recommend purchasing a 4plex without a lot of education, analysis, experience and as we practice aerials with a cushion, you should have a big fat cash cushion to catch you if you fall.
If you want to fly in aerial silks, you must do the work yourself. No one can achieve that goal for you. But real estate is different. It would be wise to have some foundational education to invest, but from their you can hire a real estate agent to help you navigate the rest.
In the end, we needed to trust ourselves and realize that what we do isn’t for everyone. I don’t mind hearing negative feedback, I think it’s all valuable. I feel like those negative comments keep me sharp and on my toes. We did purchase our 4plex and we did well. We used a cash out loan from our paid off single-family rental. Our 4plex currently cash flows $1200/month. We have significant cash reserves and are searching for the next 4plex!