10 Things We Hate About Real Estate Investing

BiggerPockets Real Estate Podcast

BiggerPockets

Education, Investing, Business

4.8 • 16.6K Ratings

🗓️ 1 November 2024

⏱️ 51 minutes

🔗️ Recording | iTunes | RSS

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Summary

Real estate investing is great…sometimes. Other times, it’s NOT fun to be a real estate investor. While the pros, like financial freedom, generational wealth, and passive income definitely outweigh the cons, there are times when real estate investing makes you sit back and think, “Wow, I’m not having fun right now.” So we’re here to vent some of our biggest frustrations about the real estate industry, and if you’re an investor, landlord, house flipper, or property manager, you’ll probably relate. These are the things that grind our gears the MOST. Now we’re not saying to ditch rental properties and real estate investing because of these downsides. Despite all these investment property pains, we still believe real estate is the best asset class for investing. But you will be hit with the headaches that we go through if you decide to invest. The good news? We will give you actionable tips to avoid the worst of these throughout the episode. If you’re brand new to real estate investing or are thinking of buying your first property, this is advice you need to hear before you begin so you can make the most money with the least amount of stress. In This Episode We Cover: Why you really (really) don’t need to become an agent just to invest in real estate Getting blinded by “exit strategies” and how it’ll cost you in the long run How Henry learned to work with contractors so he doesn’t get scammed or ghosted Why we’re begging you to stop doing “virtual staging” when selling a house Etiquette for agents writing property descriptions (stop saying everything is “cozy”) How to improve your relationship with your tenants so you both can enjoy your lives And So Much More! Links from the Show Join BiggerPockets for FREE Let Us Know What You Thought of the Show! Grab Henry’s New Book, “Real Estate Deal Maker” Property Manager Finder How to Work With Contractors and Manage a Job Site as a Flipping Newbie Connect with Henry Connect with Dave (00:00) Intro (00:41) 1. Becoming an Agent Just to Invest (04:58) 2. Bad/Slow Communication (07:30) 3. Being Blinded by Exit Strategies (12:30) 4. Unrealistic Expectations (17:03) 5. Working with Contractors (23:22) 6. Agent Property Descriptions (25:07) 7. Virtual Staging (30:47) 8. SO. MUCH. PAPERWORK. (33:19) 9. Shady Wholesalers (37:36) 10. Tenants vs. Landlords Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/real-estate-1038 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Real estate investing has given me a lot. A career I love, financial freedom, and something
0:05.4	to talk about with all of you for tons of hours every single week. But I'll be honest,
0:10.1	sometimes I just hate it.
0:18.6	What's up, everyone? It's Dave. I'm here today with Henry Washington, and we're going to
0:23.3	vent a little bit today and talk about the things that we just don't like about real estate
0:28.8	because we all know that those exist. So, Henry, let's just not waste any time. I know you've
0:34.4	been itching to do this episode. It was actually, it was your idea at BP
0:37.9	con. We were just joking about this and now we're here doing it. So tell me one thing that
0:43.0	you just can't stand about this business that we've voluntarily chosen to devote our lives to.
0:50.4	Oh, man. You know what really grinds my ears, Dave? Lay it on me. Investors who get their
0:57.2	real estate license before they do a deal or think they need to get their real estate license
1:01.6	before they do a deal. I can't wait to jump in on this, but tell me why it bothers you so much.
1:07.1	Hooks me. You don't even know how you want to invest yet.
1:12.0	You have no clue.
1:12.9	You haven't done a deal, but you're going to go spend a whole bunch of time and money
1:17.0	getting a license to do what?
1:20.1	Do you think it's just a stall tactic?
1:22.1	Like, people aren't ready to invest.
1:24.1	And so you're like, oh, I'll just devote myself to more schooling or more education
1:28.4	before I actually have to make any sort of decision. In all seriousness, I think it's partly a stall
1:32.9	tactic. I think it's partly us attacking a problem the way we've been trained to attack it,
1:38.8	right? Like, go study something and then get a license or get a degree, right? Like, that's just
	...

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