As my wife and I continue to grow our investment property portfolio, I often wonder why everyone else isn’t doing the same thing. I look around my circle of friends, all of whom know about our real estate investment ambitions, and am puzzled why they aren’t taking action to grow their net worth through REI.
Almost every time we are with our friends, they will ask us, “How are things going with your real estate?” We make a point not to bring up the subject ourselves because once someone does, we usually have a hard time talking about anything else. But when asked about the latest news regarding our properties, we are happy to converse and answer any questions they have.
And we obviously give a pretty optimistic picture of why we think REI is a great way to grow our wealth.
But I sometimes wonder if our friends’ inquiries are more embedded in a secret desire for us to fail than rooted in a genuine inquisition for an update. I sometimes feel they are mostly asking because they want to hear about a tenant horror story or how a property has gone terribly wrong.
Now, I honestly don’t think our friends are rooting for our failure. It has nothing to do with us, and it is all about them. I think the reason they are waiting for the real estate “bubble” to burst is that it would justify the fact they are choosing not to do it themselves.
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It’s more about FOMO. See, if my wife and I succeed (and we are) in our real estate investments, it proves to them that it’s a viable way to grow wealth quickly—or at least more quickly than the traditional investment strategies those friends are using. And if that’s true, they would likely feel they have made a mistake by ignoring the opportunity, especially since they had friends (us) who offered to help them get started.
I often ask myself, “Why don’t they do it, too?” My wife and I are no more intelligent than our…