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All Forum Posts by: Wilson Adams

Wilson Adams has started 4 posts and replied 21 times.

Post: Is this a NO-BRAINER deal???

Wilson AdamsPosted
  • Nashville, TN
  • Posts 21
  • Votes 3

sounds pretty solid to me, but I'm going to follow along to see what people say here. 

Post: Unintended Investor

Wilson AdamsPosted
  • Nashville, TN
  • Posts 21
  • Votes 3

Welcome! I found BP through the podcasts as well. I hope this becomes as useful a resource for you as it has for me already. 

All fantastic advice. Thanks everyone. 

Originally posted by @Mary lou L.:

What is your wife's strengths? If I may ask? Is she organized? Like to decorate? Talk to others on the phone? If she is interested mabey helping you with some of your tasks will get her exposed at least.

She's very detail oriented. She loves to decorate, whether it be painting, hanging pictures, picking furniture (or appliances). She also has some accounting experience, which is useful. 

I'm beginning to find that our problem is more with the fact that we are both fresh out of college (and i'm still in grad school) and she's still looking for a fulfilling job. So until that happens, the idea of investing money we don't have yet is a stressful idea. Additionally, my 60+ hour work weeks definitely limit me in the mean time.  

@Jeff Rabinowitz @Wendell De Guzman

All great advice. Thanks everyone. 

After sitting down for dinner last night showing her that she can redo the kitchens in all of the properties we get, she's already beginning to warm up to the idea.

@Laurie Johnson at this point i am not dead-set on anything in particular. I would love to rehab and flip once I find reasonable contractors and get a few properties under my belt, eventually.  

@Laurie Johnson Thanks. Good to know. Any channels on youtube you would recommend in particular?

@Raimonds Lauzums There's truth in that haha. 

That's an idea I had. Is it okay to show up to an REIA meetings with just an emerging knowledge on REI?

My wife and I are very calculated people. Our families always encouraged us to save the way they were taught (savings, 401k/pension, IRA).

Looking ahead, I can see that we are both going to need some alternate forms income in order to successfully pay back our student loans, achieve financial freedom and live the lifestyle we want to live. We don't want to be billionaires one day, but we also cannot fathom living the way we do now. 

I've been looking towards investment avenues to circumvent this problem long term, which is how I eventually came across BP and REI in general. I'm hoping that one day I can strategically make my cash flow in such a way that student loans and job security are no longer a source of stress.

The problem I have is that any variation of the word 'invest' makes my wife think that a coin flip will lose us our entire life savings. No matter how I try to approach it with her, it ends up getting pushed to the side because the idea of 'playing with our money like that' stresses her out. 

I'm sure some of you have a similar situation. Anyone have any advice on how to make 'investing' seem less intimidating up front to their spouses?