How to deal with family members and friends who are skeptical of your Real Estate Investing Plans
- Author Mark Chambers
- Published January 19, 2008
- Word count 550
Any first time Real Estate investor will probably encounter some resistance from family members and friends that are trying to protect them from getting hurt, or are just plain "concerned." This can be discouraging for the first time investor, but with a few simple strategies these objections don't have to impinge on your investing progress.
Any fear that your friends and family have is probably based on their lack of knowledge. This could be corrected if they were able to learn the same amazing real estate investing strategies that you learn by reading books, courses, tapes, online, etc...
The problem with this is that most of your family members probably aren't interested in Real Estate investing. There's nothing wrong with this, not everybody enjoys sports, music, etc.. So if your family members aren't interested in Real Estate investing, they won't learn enough to understand what you're doing so they won't be afraid of what you're doing.
Keep the naysayers and negative people away or at least at bay from your decision making. It's usually best not to share your investment decision with those that are close to you, but don't understand the industry. Even if the advice comes from the heart, if they don't know, then they don't know. How can they possibly give you sound advice on something they don't know about and truly understand.
The best thing for you to do is to keep your investing progress to yourself most of the time. Only tell them when you actually make money on a deal. You're probably boring them with details they aren't interested in anyway.
I've found that when you are in any type of non traditional "JOB" (short for Just Over Broke) or if you are a practicing Entrepreneur your biggest critics will be your family and friends... Until you make it big. Then they will all want to borrow money from you.
Another thing to look at is how successful your family members are in this area. It doesn't matter how much you love and respect them, if they aren't successful investors you shouldn't be taking investment advice from them. This is the same as taking diet advice from someone 200 pounds overweight, it just doesn't make sense. Find someone who is successful and model your success after what they have done.
I normally do not share what I am doing with family and friends unless they ask me directly. When I am met with resistance I simply let them know that what I am doing is not for everyone however I am mentally unemployable.
My best advice is not to share info about your investing with family members that are over protective or critical. Just love them for other reasons. As long as you are paying your own bills and not asking friends and family for money they shouldn't really care too much.
It can be uncomfortable for people to see you succeed because it forces them to deal with their own inadequacies and failures. Maybe they haven't had the courage to try something different and if you succeed it will remind them of their failure to take a chance. This is probably a subconscious process in their minds that they aren't aware of, it just shows when they try to be over protective of you.
Mark Chambers is a Real Estate Investing expert. Mark teaches people how to purchase Real Estate creatively to build wealth quickly. For an in depth analysis of the current Real Estate market, including which strategies work best in today's volatile market, please visit Mark's website at http://www.LeaseOptionFortune.com.
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