My wife and I are team in most things that we do in life. However, in REI, she usually takes a back seat because she is not interested in the business that much. Its funny, she loves the appreciation in our properties, she loves the security of real estate, and she realizes its been the best type of investment we can make, but she doesn't love working the REI business like I do. Mostly because she is busy with her life taking care of everyday stuff.. And to me thats fine, she does do all of the books, so thats a huge help..
Anyway, I've needed to bring in her into this one deal and its been a little frustrating because if we do it, we may want to move into the property. One great technique for increasing wealth is to upgrade your property several times. There's a problem.. She doesn't like to move, however, she told me if I can get a bigger house with a pool , she'll do it.
So, when I saw this house yesterday, I thought, "ok, this is the opportunity we're looking for"
Our house right right now:3 bed 1770 sqrt, 1995 built,2 car, no pool, decent back yard
Foreclosed property:4 bed, 2900 sqrt, 2000 built,3 car, nice pool, big yard
Ok, here's a simple question. Which house would you be more interested living in??
Well, my wife is more interested in the existing house because its in a better school district. We don't even have kids. ArGHH!
Its funny, I thought she would be jumping up and down for this property and she's luke warm. I showed this property to her yesterday and she said if we could get a good bid, than we'll buy it. After calling up the realtor and saying that we are interested and we WILL place a bid, she than tells me she's luke warm and she would rather stay in this one..
We decided to go ahead and look at the property inside. If she gets more excited about it, we'll talk more.
You know, if we move into this property and she doesn't like it, I'll be hearing about this everyday!
My philosophy in real estate is that its just a house, and I would live in any house if it makes me more money. My wife is more emotional about it.. The bottomline, I may have to dump this type of investing "strategy" in my business. She needs to know that she is limiting our financial success in our life goals which is to retire young and spend more time with our future kids.