How to navigate the inevitable head-aches of real estate investing

Real estate is a powerful way to build long-term wealth. But like any business, it comes with challenges that make you question why are you are even doing it. This episode is a quick reality check with some suggestions on how to look at the challenges in front of you. --- Transcript Before we jump into the episode, here's a quick disclaimer about our content. The Remote Real Estate Investor podcast is for informational purposes only and is not intended as investment advice. The views opinions and strategies of both the hosts and the guests are their own and should not be considered as guidance from Roofstock. Make sure to always run your own numbers, make your own independent decisions and seek investment advice from licensed professionals.   Emil: Hey everyone, welcome back for another episode of The Remote Real Estate Investor. My name is Emil Shour, and today I am only joined by one of my co hosts   Tom: Tom Schneider, more than just an only you ARE joined by Tom…   Emil: Glad I am joined by THE Tom Schneider, no Michael Albaum today he's he's traveling around in Portugal being the true remote real estate investor that is so just Tom and I on the episode which I mean, I don't think is a bad thing. You know, Mike, Michael is kind of dead weight around here anyway.   Tom: Nice. Throw him under the bus.   Emil: Throw him under the bus. I'm just kidding. Michaels, Michaels man will miss him. But today's topic, we're going to be talking about dealing with the hard parts of real estate investing. So contrary to what some people may believe it's not all mailbox money. It's not all rainbows and butterflies and sunshine and making money. This business will test you It's hard. There are points where you may want to throw in the towel. And I've certainly felt that Tom, I think you've probably felt that at certain points, too. I know many other investors have talked about it as well. So we're going to be talking about how do we deal with that we deal with the those emotional moments and those moments when you want to just give up? And how do you overcome them? Keep going. So let's get into this episode.   Emil: All right, Tom, I hope I hope people don't see this as like a pessimistic episode, I'm more so you know, we talked about this before we started recording, I think it's just important to be aware of these things. You know, when I first got into investing, it was just awesome. And then something, something happens, right, you have a large expense, or you're dealing with probably, maybe your property manager isn't communicating the way you'd like, there's all these various things that will happen.   And it's going to test you it's going to test you emotionally, it's gonna test your resolve to kind of stick with it. And so I thought it'd just be good for us to talk about, like, these different points.   Tom: I love it. It's just, it's something just kind of add onto that it's not a question of like, if something negative is going to happen, it's like, okay, when you know, like, it's go ahead of me.   Emil: Yeah, exactly. It's, it's going to happen. And that's okay. And that's part of it. And I think, you know, anything where you're gonna make money, and there's opportunity, part of your job is to handle challenges. There's really nothing in life where you just kind of, you know, limp in and put some money in. And it's not that challenging, and you just have awesome out weighted returns, right?   So this is a business, you know, it's not just like putting your money in the stock market. And what happens happens, there is a business, you manage it, you have tenants, you deal with people all the time. So, you know, these things can throw curveballs in your life. So, Tom, do you have any moments recently that you can think of when you kind of when this has happened? I don't know how recent it's happened for you.   Tom: Yeah. So I guess one more thing, kind of high level throw in is, you know, we all understand the benefits o