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Updated almost 9 years ago,

User Stats

5
Posts
1
Votes
Lee McCarthy
  • New Baden, IL
1
Votes |
5
Posts

How to get your spouse on board with Real Estate Investing?

Lee McCarthy
  • New Baden, IL
Posted

So here it is.....my story and where I want to go, and needing some advice to get me there. The back story. I live in the St. Louis Metro East area. I have a job in pharmaceutical sales that pays me well. 2 kids, and my wife makes 40k/year. I have always loved the idea of running my own business. I am a numbers guy. I am hands on with rehab, but I cannot seem to get my wife convinced that I can do this (get into REO/auction flips in the 20-50k w/100-130k ARV). We had bought a house in 2007 for 85k, put a lot of work into it personally, yet had to declare bankruptcy a little over a year ago because we couldn't sell the house due to the market crash and the neighborhood going to ****. We absolutely were not going to allow our son to go to that school district, so we bit the bullet and lost the house in bankruptcy, and later was purchased for only 32k. I believe this has completely jaded my wife and I am struggling to convince her that this industry is viable and that I have the capacity as a highly motivated, and fairly well educated person to both learn and build a profitable business. What I am asking is, does anybody have any advice as to how to get a spouse or family member on board when they have no interest in being a part of it?

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