What’s wrong with some drama?
Posted on December 10, 2007 - Filed Under Philosophy |
"Your life is full of drama," said my good friend Anne.
Having "drama" in someone’s life always carries this negative stigma. Phrases such as "Oh, I have low drama" or "I can’t date someone with a lot of drama" are spoken regularly in conversation.
Why is that bad?
If applying karmic principles, the person suffering from "drama" probably brought it onto themselves through a poor decision, or lack of decision. Then when recounting the details, they play the "pity me" card.
In that package, I guess drama can be bad.
For me, these issues which appear (while some are frustrating) are actually entertaining at face value. The situation with the eviction was actually humorous. Not once did I ask for sympathy or cry "woe is me". In most cases, the entire experience helps to add to my learning curve. How can that be perceived as bad?
I guess investors understand a certain level of drama is going to enter their lives, when they seek to find their path in the forest of risk as oppose to being on the road of stability. So does this mean drama should be avoided?
If we take a snapshot in the life and times of the real estate king, Donald Trump, do you think we’ll see drama there? Granted he has become more than a real estate mogul. But even back in the days before "you’re fired" and super-thin eastern european models, the man was nothing but drama.
Then I have to ask myself: would Donald give up all that drama?
Not for a moment.
This tells me investors manage drama in the same way they manage risk or manage finances. It is an aspect, a side-effect of what we do. And since investors and entrepreneurs are optimistic, they take the drama on and move forward.
OK so maybe Donald isn’t a good example of a typical investor. Most investors I know don’t have comb-overs. But can anyone in real estate really avoid drama?
In real estate, drama comes from: banks, lenders, real estate agents, tenants, inspectors, buyers, sellers, contractors blah blah blah
Dealing with that many different people, how can drama not enter the equation?
Would we give up that drama?
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6 Responses to “What’s wrong with some drama?”
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People who have jobs have work drama. We tend to think its necessary drama because it occurs at work. But real estate investor drama is considered unnecessary drama and categorized in the same category as relationship drama or financial drama because its seen as a drama that you could have avoided.
People with jobs and who invest in stocks and mutual funds don’t understand that real estate drama is the same as small business, med, or large business drama… its all part of the job.
I have dealt with tenants and I have dealt with employees. I will take tenants every time. Employees bring their emotional baggage to work with them and everyone in the work place has to live with it. Tenants show a lot of their baggage in their applications and references, so you can eliminate a lot of the “drama” by not renting to the tenants that don’t pay or don’t maintain the property. You pay your employees to work for you and you provide benefits. Your tenants pay you, and there are no benefits to be provided. In most states, it is much easier to evict a tenant than it is to fire an employee. Tenants have fewer grounds to sue you if something goes wrong with the relationship.
Rental property ownership and management is a business, no matter what the form of ownership. If you have been a manager of employees in a large workplace, the rental property business is almost as easy as full retirement.
I would like to give up any drama that I pin as bad or negative drama. Sometimes drama is amusing and enjoy it, sometimes it’s draining and unnecessary. In business I would like to elimnate all of it, but that’s just not realistic.
Out of the houses I have flipped, the deals with the least drama have always been the more prosperous deals. Two weeks, in and out, sell fast, easy inspection, make money, go drink a beer. Other houses, big drama means big problems.
Everything in moderation I guess…
AI, I have to agree. My experience with tenants has shown once their basic needs are met, they’re pretty quiet and don’t cause hassles.
But Jared does bring up a good point. The fine line which separates “good” or “positive” drama from the negative.
As Kenric pointed out, there’s no escaping drama when in the real estate business. No matter what position you hold.
I guess I balk at the word “drama” because of all the baggage it carries. So I don’t see much good in the “drama” involved with real estate investing, and would rather just avoid it.
That said, I don’t mind the turbulence, which I think is what you’re getting at when discussing “good” drama. Always living in your comfort zone can get pretty damn boring, predictable, and usually isn’t profitable. Getting bounced around and forced to think on the fly may not always be necessarily pleasureable, but it definitely reminds you that you’re alive and gets your heart beating again and your mind mind churning.
Seth, I agree: you should do something every day that scares you.
When I thought of the alternative to REI, which involved sitting in my apartment and watching Law and Order 4 hours per night, I got real real scared.
I’ll take the “good” drama 7 days a week!