My husband and I plan on teaming up to conduct our REI business. Any advice, thoughts, stories about married couples going into REI together?
It is the only way to do it, as far as I am concerned. Try to allow each other to take on certain aspects of the business, based on your individual strengths. I find that although my husband and I work together as a team, we play different roles, which helps to create some separation and balance. For example, I pick out the finishes, he deals with the contractors. I advertise online for opportunities, he meets the prospects. I get the details handled, he picks up the materials. I negotiate with clients, he negotiates with me.
We also work best with different types of people, based on our personalities. We can pass one to the other if we don't feel we are the best fit.
I have found that spouses that are not in the Real Estate business, do not understand when you have to drop everything to get business handled. For example, I have had to leave my husbands birthday dinner before to get something handled. Instead of being mad at me, he appreciated that I let him relax on his birthday while I worked.
However, if you are a couple that argue or don't get along very well, I do not recommend it. Also, if one of you doesn't handle stress very well, or who can't wind down, it can be torture. I have known a lot of married people who know they should never work with their spouse.
It sounds like it should almost be a natural thing. A husband and wife both interested in the same bussiness. Don't people in show bussiness marry each other. And doctors marry Nurses.
People that are interested in the same things usually graviatate toward each other.
Free eBook from BiggerPockets!
Join BiggerPockets and get The Ultimate Beginner's Guide to Real Estate Investing for FREE - read by more than 100,000 people - AND get exclusive real estate investing tips, tricks and techniques delivered straight to your inbox twice weekly!
- Actionable advice for getting started,
- Discover the 10 Most Lucrative Real Estate Niches,
- Learn how to get started with or without money,
- Explore Real-Life Strategies for Building Wealth,
- And a LOT more.
Sign up below to download the eBook for FREE today!
We hate spam just as much as you
Create Lasting Wealth Through Real Estate
Join the millions of people achieving financial freedom through the power of real estate investing