All Forum Posts by: Andy Wu

@Andy Wu are all properties in Ohio?

Don't squeeze water out of stone.  Life and good relationship is worth more then money. I would rather have a happy wife and happy relationship over money and stress any day. Trust me I was one who raced to the top and wanted it all.  Business first and foremost. Lost out on a lot of family time and relationships.

Now my family , wife and others come first. My wife has nothing to do with the business and works for her tribe. Where she is very happy and that is all I want for her. We will continue to make good money. So you must learn to diversify. Maybe selling off the worst assets, potentially raising capital. I am sure some of the smarter folks here can show you how to buy in LLC or business entity as mentioned above.

Just my two cents

Why not refinance into a blanket loan?

You have to talk to a lot of different portfolio lenders, don't just assume that they all have the same rates and downpayment requirements.  I have purchased both single family and multi-family properties with no money down through small local portfolio lenders, and the rates have still been good - 4.5%-4.75%.

You are going to have to eventually look at portfolio/commercial loans/private money anyway if you keep growing, why not just do it now and accept it as the cost of doing business.  Like Dawn mentioned, you can't make somebody enjoy doing something just because you do.

Maybe she will come around in the long-term, maybe she won't.  But there's no sense in risking resentment from your wife when you have other alternatives available.  

Remember: Happy wife = Happy life

The easiest way to get your wife involved is to invite some additional contractors.  I would recommend Louis Vuitton, Jimmy Choo, Manolo Blahnik, and Ralph Lauren to name a few.

Yooch

What does your wife do for a living?

Getting my wife involved was simple, I said do you want to retire at 70 with a large sum of inflated cash not knowing how long it will last. Or do you want to chose to work when you are 35-40 because cash flow will replace our current income and work will be an option not a must.

I recommend providing a vision for her. Find out what she wants in life and offer it to her on contingency she helps you. Example: "If we acquire 9 more rentals the 10th can be our vacation home."
Most people not familiar with REI tend to jump the gun and assume a bad image. Paint the positive side of REI for her.

What does your wife do for a living?

Getting my wife involved was simple, I said do you want to retire at 70 with a large sum of inflated cash not knowing how long it will last. Or do you want to chose to work when you are 35-40 because cash flow will replace our current income and work will be an option not a must.

I recommend providing a vision for her. Find out what she wants in life and offer it to her on contingency she helps you. Example: "If we acquire 9 more rentals the 10th can be our vacation home."
Most people not familiar with REI tend to jump the gun and assume a bad image. Paint the positive side of REI for her.