We've all heard the sentiment:
"DON'T lend money to friends!"
If a friend or family in need is asking you for money, then help with no strings attached in a genuine way or don't do it at all.
The point I'm going to make here is that I've had the amazing privilege and honor to do business with my friends. Heck, the majority of my business is with just friends!
I am grateful for the trust, and respond to a friend's need to invest in real estate with the utmost care. Does it ever go wrong? It can when the person asking for help is actually insecure about what they want to do.
Here's what happened......
A friend asked me to help them find an investment property. For 4 years, I busted my butt. Time and time and time again, deals slipped right by..After 4 years, I realize that they are insecure about making a decision and had been consulting dozens of other people on what to do...Oh my gosh, I'm exhausted just remembering this. Why oh why did I waste so much time! .(Yeah, I held on for that long because I thought I owed my friend this amount of hard work and many many hours for nothing..)
This person was what we call " an emotional vampire." In this case, we're talking about an emotional/financial vampire.
"Whether or not they know it, vampires are driven by insecurity and weakness, infirmities that impede goodwill. This doesn't excuse their predatory acts." - Judith Orloff, M.D.
Dear Reader, if you're working with a Realtor who is a friend or family connection, ask yourself this first: why are you working with them?
Is it because you respect what they do and trust them? Then proceed full throttle forward!!
BUT if you yourself have fears and doubts about making a real estate investment, then please do your friend a favor, and be honest and say you're not ready. It is absolutely ridiculous, and ruinous to a relationship to waste a professional's time with your fantasies of being a real estate investor.
Proudly, I can tell you that I have repeat business with friends and have helped them make money on income properties... I love that part of my job the most!
If a friend of mine owns a business, I go to them first because I'd rather support a friend.
Not because I want a discount. No, actually that makes me feel uncomfortable, I support them because I trust and respect what they do. Period. So if there are any other vampires out there, my door will always be closed.
