How do you deal with the stress and depression?I will tell you about my situation.I bought a home,before I even bought this place there was talk for years about trying toget the city to sell ground ect.Some people moved over the years thinking it was talk.I moved down here and bought one of the house's.Everyone around this lake has been waiting.I been waiting for years hoping and was using this for an investment.We are really low income and thought one day it will pay off.Well finally the city is doing it.What everyone has been waiting for.The city is going to sell ground only to homeowners at this time,I can purchase as much ground,being I am on dead end road and there is no home next to me,I can even go half way around lake.My income has changed so much that that I have no choice but to sell my home.The realitor told me if I just hold out little longer then put my place on the market,I can double my money or more and of course the realitor will make more.I had all these plans that I could section off later as lots,put boat dock in ect.But... things changed really bad with my income.I have been doing everything I could think of,posting looking for partner and I'm running out of time. Has anyone ever had problem like this?What did you do?I have gotten so stressed and depressed because of this.Has anyone gone threw anything like this?
Oh yes. I'm sure most all of us have been there at one time or another. This business definitely has its good times and bad.
We had a period last winter where we had more repairs to do than time to do them, and had little to no money to hire help. In retrospect, that is what we should have done and then we could have gotten the properties on the market that much sooner. But it was a very stressful time. We both work full time and so any time spent on the properties is time after the work day is done.
Personally I would not take investment advice from a realtor. Their goal is to sell a property and make the commission. Now, that's their job, so that goal is not a bad thing, but a realtor is definitely not an unbiased observer. If a realtor tells you to sell, that doesn't necessarily mean now is the time to sell. You can learn a lot from realtors, because they know the business well, but I would always take it with a grain of salt.
I know it's been a while since your original question, I'd be curious to know how the situation came out.
Also, if you're in a similar situation again, it always helps me to get away for a little while and think about something else. And getting away doesn't have to mean a vacation or getting out of town. Find something else to occupy your mind and to refresh yourself. Then you can come back to it with a clear head and it's usually easier to make a rational decision.