The good folks at Bigger Pockets wrote a great piece about how real estate investing takes you out of your comfort zone: http://www.realtor.com/blogs/2011/07/27/real-estate-investing-outside-your-comfort-zone-biggerpockets-investors-corner/.
This article got me thinking about how you really need to stand up for your business to make it successful.
The number of people that will try to push you around when you get started can be too large to count:
1) The seller may try to hide as many defects in the property as possible;
2) Potential tenants may try to avoid paying security deposits;
3) Current tenants may be late in paying rent and ask you to waive late fees or avoid paying at all;
4) Contractors may try to fleece you for repair costs.
All of these people will try to use guilt to make you feel sorry for them and give them what they want. It is a common manipulative tactic to try to make someone else feel bad when you have done something inappropriate.
Stay strong. It is not "nice" to allow someone else to take advantage of you. In fact, the kindest thing you can do is to stand for principle and hold them to their commitments. This is treating them with the utmost respect. You are seeing them as someone who has the ability to honor their obligations and teaching them a lesson that there are consequences for violating agreements.
They will respect you for your courage and your business will flourish. Just another side benefit to entrepreneurialism: personal growth.
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