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Updated about 1 year ago on . Most recent reply
Invest with Spouse?
Hello all, I was wondering if it’s advisable to invest with your spouse? I’m really into purchasing real estate as an investment property and renting it out rather than buying real estate to live in it. My spouse is interested in the concept of living in a home. That said, I figured our first property could be our primary residence in Orlando, FL (we currently live/rent in New England). After living in the primary property in Orlando I figured we could move back to New England and rent that property out which seems like a win-win as far as getting a conventional loan rather an investment loan. It would be easier (i.e combining capital) and nice to have a common goal but I’m not sure if it’s advisable if my spouse’s mindset isn’t as investment oriented
Most Popular Reply
@Maria Moya My partner and I are NOT on the same page as far as real estate investing goes. I bought our current home, a duplex, as a house hack/investment, by way of my own decision without her input and she is still aggravated about it almost 5 years later. She owned her own homes for 22 years prior to moving in with me and still is not happy about sharing the property with a tenant nor the location of the property.
On the same note I have tried to get her to invest in other properties with me and she is terribly risk adverse and just can’t stand the thought of having her name and credit being attached to a large mortgage even though I have explained numerous times about how the bills and mortgage payments are made by the rent payments.
97% of the time she continues to be supportive of me pursuing the real estate on my own and has been supportive of me retiring from my job to pursue it full time.
I think it would be a lot more fun if she was on board with going to look at properties and in participating in the day to day operations of things. Also it would be nice to have someone who was more interested in talking about the real estate. It gets lonely. Is it necessary? No. You can definitely do it without your spouse. I just think it would be better with your spouse on board.