5 Areas in Real Estate Where a Significant Other’s Support is Vital

by | BiggerPockets.com

Is it too much of a romantic idea that your significant other should be your best friend? Confidante? Business partner? Part of your support system?

Too often, we focus only on the real estate strategies and systems we use and implement on a daily basis to grow our real estate investing businesses. While this is critically important to your success, you may be neglecting to care for your proverbial “goose that lays the golden eggs” — your mental health, happiness, and self-esteem.

Associating with a close group of positive and like-minded go-getters can be a great way to add value to your daily life. We only have a limited number of hours in everyday; aim to invest your time and brain power toward positive self-growth and business growth. Perhaps the ones we care most about, our husbands/wives, may have the biggest impact on our day-to-day mental health and daily motivation.

Pro Tip: Find local real estate investors group to befriend. Ask around about starting or joining weekly accountability calls.

See the list below of areas in your investing business where having a supportive partner can be ideal.

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5 Areas in Real Estate Where a Significant Other’s Support is Vital

1. Brainstorming

Ideas need a place to grow. Having a like-minded significant other to share in your excitement and business development may be crucial to your longterm business success, as well as your relationship success, moving forward. Starting any new business or investing niche can be both frightening and exciting beyond belief. Having a best friend and trusted business partner by your side may be a great idea to keep yourself surrounded by like minds when at home.

Pro Tip: Aim to brainstorm and list 3-10 new ideas most days. Brainstorming new ideas while working out or walking with your partner can be a great daily addition to your workout routine. This exercise may help keep your creative brain muscles working and stretching. These brainstorming sessions may eventually lead to implementing new ideas and/or completing new profitable businesses.

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2. Education

Real estate investing will require you to know more about real estate. Whether you have decades of investing experience or are just getting started, this may require you to learn more, become licensed, investigate concepts, and/or stretch yourself beyond what you already have been doing on a daily basis. The couple that learns and grows together often stays together.

Related: 7 Ways to Convince Your Spouse That Real Estate is the Way to Invest

Pro Tip: Whenever something real estate related is learned or discovered, aim to share this information with your significant other the same day. If working with a mentor, aim to brainstorm possible questions to get answered pertaining to the topics learned. Your answers should lead to more questions.

3. Motivation

Real estate investing is not easy. Life is not easy. We oftentimes need reassurance we are doing the right things, or sometimes we simply need the permission to think outside the box and try something new. We may look for this approval from our significant others.

Pro Tip: Lead by example. Start encouraging your partner towards personal and/or business goals he or she has been putting off or feeling negative about. Look for every chance to add value and strength to your significant other’s life.

4. Leverage

With a like-minded partner, there are now two of you able to accomplish double the daily action. Decide early on the roles of each partner. Keep in mind advertising and marketing for sellers can be a two-person job.

Disclaimer: This article discusses why investing with a significant other may be helpful to your real estate investing business and to the health of your relationship. While the view expressed here is only one outlook, there are many thousands of happy couples actively investing with only one partner performing active roles in the investing business. Even in these relationships, it may be valuable for the active spouse to feel supported, encouraged, and a winner by his or her partner.

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Related: Investing With Your Spouse? STOP and Read These 4 Survival Tips!

5. Memories

Life is a series of moments and memories. Looking back over the past decade, I can remember spending many of my best times with close friends and loved ones that were helping with various real estate projects. My close friends regularly share hilarious stories and lessons learned from these past shared experiences.

If you are actively investing in real estate, things tend to happen quickly. You will not be the same person mentally that you are today as you will be in 6 months. In 6 months’ time, you will be stretched and challenged — and you will have experienced much internal growth. These changes are normal as this business molds you. An investor will either learn and adapt, or fail. Through all these changes, it may be imperative that both you and your significant other experience these high and lows together for the good of the relationship.

Anything we missed in the article above? Does having a spouse active in the same business helpful or hurtful?

Comment below.

About Author

John Fedro

Investing since 2002, John started in real estate accidentally with a 4-bedroom mobile home inside of a pre-existing mobile home park. Over the next 11 months, John added 10 more mobile homes to his cash-flowing portfolio. Since these early years, John has gone on to help 150+ sellers and buyers sell their unwanted mobile homes and obtain a safe and affordable manufactured home of their own. Years later, John keeps to what has been successful—buying, fixing, renting, and reselling affordable housing known as mobile homes. John shares his stories, experiences, lessons, and some of the stories of other successful mobile home investors he helps on his blog and YouTube channeland has written over 300 articles concerning mobile homes and mobile home investing for the BiggerPockets Blog. He has also been a featured podcast guest here and on other prominent real estate podcasts, authored a highly-rated book aimed at increasing the happiness/satisfaction of average real estate investors, and spoken to national and international audiences concerning the opportunities and practicality of successfully investing in mobile homes.

2 Comments

  1. Jerry W.

    John,
    EXCELLENT article. My wife has disapproved of my investing for well over 20 years. Despite that she has been an incredible asset to my investing. She was a business major and handles all of the books for my various real estate companies. For whatever reason in the last month or two she has become less negative. I dislike the articles that say if your spouse is not on board it will not work. I have over units and have invested for well over 20 years, it can be done. I have over 30 units currently, and one commercial property. It is much better if you are together on it. Let your spouse play the devil’s advocate if that helps you make sure the deal will be good. I wish I could say what made my wife stop opposing my investing, but I am not sure. You would think 35 years of marriage would give me more understanding.

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