Is real estate income safe? I hear this question all the time. This wasn’t always a question; indeed, at one point they were flat out telling me that it’s not safe and I am crazy. Now, having seen me succeed, they ask. Well – while there’s no one way to answer it, today I’ll tell you a story:
I am writing this mid-day on a Sunday. I am in bed since my immune system, having noticed how much everyone around me was enjoying the flu, decided to supply me the pleasure – I got the flippin’ flu! I started feeling ill on Friday night, was absolutely plastered yesterday, and while I’m feeling much better today, I’m still not up to the task of running around with kids.
Friday night is what I want to tell you about. You see, a friend approached me about a week ago in regards to playing the violin at her father’s funeral; her dad passed a few days ago. I don’t typically play for money any longer, and neither does Patrisha, but both of us will play if we want to – “want” being the operative word. To honor a friend’s father’s memory qualifies…to be sure, my friend is going to pay us something, but I never quoted the price because it didn’t matter; we would have played for free.
The funeral took place on Friday, and thus, Patrisha and I found ourselves at the funeral home. We came in, prepared, and started to play easy selections, as per my frineds’s request. However, it wasn’t 20 minutes into the gig when I began to feel some aches and pains creeping-in, which became progressively more pronounced and by 2 hours in I was damn near “stick a fork in me” done – can you say Flu?!
I thought for a minute about leaving, but let’s face it – I told a friend I’d be there; done! So, we stayed and played…for 3 hours. I can’t put on paper the exact terms that were resounding in my feverish mind for most of that time, but I can tell you that none were PG13.
When we finally left after 3 hours, it only took one second in the cold, night, Ohio air to make my whole body shake like a leaf. In fact, if I had to put a key into the ignition, as opposed to just pressing a button, I don’t know that I could have started the car…
My experience Friday night exemplifies a life of a musician, which likely explains why I’ll have no piece of it now-days. But, more than that, it exemplifies the life of most people who generate W2 and/or 1099 income – in other words people who are under contractual obligation to perform services for money! Getting up and leaving if you’re not feeling well is just not an option, at least not a good one, and if it ever becomes necessary to exit the game, then it’s accompanied by a loss of income – plain and simple. So, all ya’ all out there – that’s beyond dangerous!
On the Other Hand
As I was in bed with fever (on Saturday), I heard my phone ring. I thought it might have been my parents checking up on me, so I picked up. In fact, this was a tenant calling about a plumbing issue…oops. Fever or not, it was time to act as a landlord should – with the phone still in my hand, I promptly sent a text to my plumber. Done!
I suppose I’ll follow up with a phone call on Monday, but how hard is that, especially in comparison to needing to “show up and play”…?!
Is Real Estate Income Safe
Do you know what it feels like to play the fiddle with a developing fever due to flu? Not likely, and I hope you never find out. But, I am sure you can relate in some way… I hope to have illustrated to you that while real estate income is not necessarily exciting or sexy, in some ways it is indeed a lot safer than any other!
Do you agree?