Is there still a place or need for ethics in real estate investing? Even if there is can you be ethical and still make money?
The banks can get away with anything today right? Other underhanded investors and real estate industry players all seem to have the best toys, enjoy the most praise, appear to have less stress and more free time, right? And the worst of the bunch never seem to get caught or punished even if they get found out.
Then even when you try to do things the right way; disclose what you should, take a caring approach, do the rehab the right way, you seem to lose out to the competition and make less money.
So if you won’t get caught or penalized and people don’t appreciate it why bother doing the right thing or attempting to run an ethical real estate investing business, right?
Why not commit mortgage fraud, sell a bum product and let vendors go unpaid?
At least this is the way it seems sometimes, but people do get caught eventually, and you really don’t know what is going on behind the façade.
There are many in jail for these things right now and they’ll be there for a very a long time, many are struggling to juggle the bills and their relationships are in a mess, and still many big businesses are on the verge of bankruptcy.
Still, even if the orange jumpsuit and bars don’t bother you, at least consider that running an ethical company or doing good business can and will pay off big in the long run.
It might take a little longer to see the biggest success, but it’ll be a lot less stressful, more rewarding, something you can actually be proud of, and you’ll be there to pick up the customers and be making the big bucks easy when your competitors are in jail and come broke begging you for a job. Keep your eye on the end game, and don’t be fooled into making terrible mistakes you can’t undo.