I attended the same school from kindergarten through college. Since the elementary school and high school were located on the college campus I worked my way around the circle until I was handed the final diploma one hot August morning.
We were called lifers. In fact I was grown before I realized not everyone was educated that way.
Here’s another group of lifers. Tenants for life. Don’t you just love them?
Of course we all want the older more mature ones. They make great renters. But here’s the thing. Some of them think we’re crazy.
Does that make us a little uncomfortable? Do we really care?
I was a lifer because I didn’t have a choice. My parents invested quite a bit in my education and told me to get up everyday and go to school- the school. "It was my job", as they described it.
And yes, there are some lifer tenants who can’t buy a house to live in. Economics have dictated they don’t have a choice. I’m not referring to them although I think many of them probably could swing it in the Land of Opportunity.
But there is another group made up of fussy malcontents who are so busy complaining about the markets that they never invest. Want to meet some? Go back to some of the old forum posts, such as the Wall Street Journal’s, and read what was talked about several years ago.
How’s this for brilliant thinking? “Houses are overpriced. I’m going to buy a BMW and travel instead.”
That lifer tenant thought prices were too high way back in 2002. I wonder what his BMW is worth today.
And how do you cash in on a vacation you’ve already taken? Do you imagine he could be complaining about high rents right about now?
Here’s my point. Lifer tenants think differently. We believe in investing in appreciation. They invest in depreciation. It’s that simple.
Next time we find ourselves getting a little discouraged, let’s remember what it’s all about. We’re in this as lifer real estate investors because our real estate investing, whether buy and hold or flipping, is a way of life. Let’s save our complaining for something really irritating like the long lines at bank drive-throughs.