What is YOUR pain threshold…

I had a lengthy meeting today with a first time Real Estate Investor and Soon to be Landlord! This client has been on the fringe of purchasing an investment property for a year or two now.  He has held off from jumping into the landlord pool for one reason or another. In our conversation I asked him “Well what’s your pain threshold”… After he looked at me for a minute or two he then blurted what the hell do you mean.

I simply explained to him that while he has the best case scenario already played out in his head he more than likely hasn’t thought about the worst case scenario once. I am a strong believer in the laws of attraction and positive thinking producing positive results. But sometimes no matter how positive your thinking is bad things can happen. It is extremely important to explain to first time investors to go through both scenario’s prior to any purchase. What is your client willing to do to keep the investment going, what factor of safety do they have built in and what is their breaking point. Evaluating their pain threshold will help you gauge  what type of investment opportunities they would perform best with. As a Realtor it is as important that you help guide your clients towards the right investments. The better the advice and the better the outcome then obviously the better the relationship. My success rides along side of his success and if he fails I failed… I pride myself in having the ability to tell my clients as it is… Rather than the “Yes Man Approach”!

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