Getting spousal or significant other's support

[Dustin B.]

Hi All,

I am starting and have yet to make a deal yet. I know in a couple of the podcasts and in the UBG it mentions family support is necessary if you are going to invest in real estate as it is a lot of hard work. My wife is very conservative and risk adverse. She has agreed to give me a % of my paycheck that I can do whatever I want with. When I asked her about real estate investing she wasn't excited to say the least. Any advise on how to get support from your significant other. She feels that there is to much risk involved. Side not she doesn't like the stock market either. She is afraid if I buy a house and something happens and it is forclosed that the bank will come after our personal assets. I have tried to explain LLC, S-Corps, and even C-Corps as separate legal entities to reduce my personal risk. Any advice on how I can better explain or talk to her about it.

[Adam Johns]

My wife does the same thing, but I actually welcome it. When she asks me a question about a specific risk and I don't know the answer, I take that as my cue to go look for the answer. The great thing about searching for answers is you trip over a lot of information you weren't looking for along the way.

I also told her that if I get to three deals next year, the third one goes to a vacation fund. She seemed to really like that idea.