Covincing Spouse You're Not Crazy

IN · Member since 2017 · 45 posts · 11 votes

I would guess at least a few of you have had to convince your spouse or significant other that you weren't crazy, you weren't going to bankrupt the family, and that this whole real estate investing thing was a good idea ... right? Any advice? My wife has always been fearful of money issues. I know that can be a good thing, but tough convincing someone with those fears.

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Joel OwensBusiness Member

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Real Estate Broker · Canton, GA · Member since 2010 · 15k+ posts · 11k+ votes

It will take awhile. Lot's of people fail and just a few make it so concerns can be valid.

If you have a family and kids it might be a good idea not to go ALL IN on something.

Everyone takes risks you just want them as calculated and informed as possible.

My mother in law when her husband passed away and sold the house received about six figures. She could have invested that so that she did not reduce down the money. She left in the bank and now with social security and supplementing each month the money is down years later to about 55,000.

People often make decisions based on FEAR of loss.

I saw at Publix grocery shopping tonight when we were leaving the store a 70 year old grandma pushing 12 buggies inside from the parking lot working there.

90% of the population lives in fear of the unknown. The known likely sucks to them but they know it and getting them to change and believe something new and better is possible is very hard.

About 14 years ago I went to get my real estate license. Fast forward to today and I am commercial principal broker and retail real estate developer. I help affluent clients buy properties in the millions to tens of millions in price.

The first few years starting out it was tough. You have to not quit no matter what. When you break through and achieve what few have it is an amazing feeling. The money is just a by product but the satisfaction you get from achievement and self-fulfillment is worth 100 times more.

The early years everyone in the family questioned me but now they all talk about me and the success I have.

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Austin Fruechting
Investor · Kansas City, MO · Member since 2017 · 791 posts · 1k+ votes
9y
When I first started digging into the idea of real estate investing I ran a spreadsheet about 50 columns wide and 135 lines long running out every scenario I could think of as far what to do with our money. The clear winner was investing in real estate. That was all she needed because I wasn't just saying "Hey this is what I think we should do." I had the proofs to back it up as compared to other investment strategies.
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Matt John
Investor · Bentonville, AR · Member since 2016 · 32 posts · 22 votes
9y
@Account Closed That's what I did too! I shopped for the ideal truck for 6 months and then pulled the trigger on a HUD house instead. It's been cash flowing $200/month for 5 months now and my old Toyota Corolla is still worth the same $2400 it was worth 7 months ago because it just doesn't have very far to fall. I'm making passive money AND not losing value in my vehicle.
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Account Closed
Business Owner · Madison, WI · Member since 2017 · 79 posts · 59 votes
9y
The best way, in my humble opinion, is to cash a big ol' fat check and take the wife shopping.
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