Approaching investment tasks - How do you do it?

Discussion in 'Investor Psychology & Mindset' started by Sackie, 17th Mar, 2016.

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  1. Sackie

    Sackie Well-Known Member

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    For the people who invest with partners, do you divide the tasks according to your strengths? I was just mentioning this in another thread and thought it might be interesting to see other people approach. For us, we usually try to approach tasks according to our individual strengths which makes sense for us, so usually this is how it plays out:

    Due diligence: Both
    Research: Both
    Negotiations: Myself
    Accounting/tax: Partner
    Spreadsheets: Both
    Legals: External expert
    Finance: Partner/external expert
    Project management: Myself mostly.
    Design: Both
    Cash flow management: Partner
    Property management: External experts/Both
    Feasibilities: Both
    Structuring: External expert
    On track goal checking: Both


    Would love to hear how others approach it.
     
    Last edited: 17th Mar, 2016
    Sackie, 17th Mar, 2016
    #1
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  2. neK

    neK Well-Known Member

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    All Tasks: Me
    Final Approval: Wife.
     
    neK, 17th Mar, 2016
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  3. Sackie

    Sackie Well-Known Member

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    Happy wife happy life :D
     
    Sackie, 17th Mar, 2016
    #3
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  4. See Change

    See Change Well-Known Member

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    I do most of the strategic work , when and where .

    Finding the properties , we both do .

    We negotiate the negotiation between us , once we've found something I let my wife sort out the mess , reports , contracts , legals etc .

    SWMBO does all of the ongoing management - contact with pm's , organising things etc .

    We do all the accounts together . I think it's important we're both on top of how the money is tracking.

    Cliff
     
    See Change, 17th Mar, 2016
    #4
  5. Chilliblue

    Chilliblue Well-Known Member

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    Location:
    Australia
    Due diligence: Myself
    Research: Myself
    Negotiations: Myself
    Accounting/tax: External/Myself
    Spreadsheets: Myself
    Legals: External/Myself
    Finance: Myself/external
    Project management: Myself
    Design: Myself
    Cash flow management: Myself
    Property management: Myself
    Feasibilities: Myself
    Structuring: External expert
    On track goal checking: Myself

    Feeling like they are a serious property investor: Partner
     
    Chilliblue, 17th Mar, 2016
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  6. Ace in the Hole

    Ace in the Hole Well-Known Member

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    1. Everything except point 2 below: Myself
    2. Sign the loan/legal documents: Both
    Works well that way.
     
    Ace in the Hole, 17th Mar, 2016
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  7. Sackie

    Sackie Well-Known Member

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    @Chilliblue your amazing!

    [​IMG]
     
    Sackie, 17th Mar, 2016
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  8. Sackie

    Sackie Well-Known Member

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    I like this very much :D
     
    Sackie, 17th Mar, 2016
    #8
  9. Xenia

    Xenia Well-Known Member

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    This works for me too.
    I'm married to a buyers agent, he does everything.
    I manage the businesses and finances but have no time to source properties or do development feasabilites etc...
     
    Xenia, 17th Mar, 2016
    #9
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  10. EN710

    EN710 Well-Known Member

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    Specific to IP

    Due diligence:     Me, he question and poke holes
    Research: Me, he question and poke holes
    Negotiations: Me...
    Accounting/tax: I do all the compilations, then send to accountant
    Spreadsheets: Me
    Legals: Professionals
    Finance: Broker?
    Project management: Me or I manage whoever manage the project management
    Design: Both
    Cash flow management: Me
    Property management: Property manager. I manage the communications with managers
    Feasibilities: Me
    Structuring: So far doesn't need one yet
    On track goal checking: Me, he ask questions


    For procurement of home items (new phone, new computer, sound system, shampoo supplies) everything is reversed :p
     
    EN710, 17th Mar, 2016
    #10
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  11. See Change

    See Change Well-Known Member

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    DT can vouch for that . He's learning not to ask me property specific questions in the chat room .

    Settling ? Oh , are we settling this week ?

    Cliff
     
    See Change, 17th Mar, 2016
    #11
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  12. Sackie

    Sackie Well-Known Member

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    If I ever need to find @D.T. I know exactly where he lives :D
     
    Sackie, 17th Mar, 2016
    #12
  13. D.T.

    D.T. Specialist Property Manager Business Member

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    I leave my computer on 24/7, doesn't always mean i'm there
     
    D.T., 17th Mar, 2016
    #13
  14. Sackie

    Sackie Well-Known Member

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    Said you 'live' there, doesn't mean your necessarily home. :)
     
    Sackie, 17th Mar, 2016
    #14
  15. Azazel

    Azazel Well-Known Member

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    A mix of these 2 strategies.
     
    Azazel, 17th Mar, 2016
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  16. Omnidragon

    Omnidragon Well-Known Member

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    I do everything. In fact my wife doesn't even know what I buy these properties for, how much they rent for etc. She's living in fairy land, which is good as I want her to have a peaceful life.
     
    Omnidragon, 19th Mar, 2016
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  17. Befuddled

    Befuddled Well-Known Member

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    This year would be the first time my partner and I view our individual, modest portfolios as a combined entity.

    My partner's the most relaxed investor ever (the greatest outsourcer depending on how you wish to view ito_O). Understands the benefits of investing but has no interest in the actual details of the game. In the past her properties were sourced by her mum and her involvement begins and ends with a visit to the accountant.

    As for the approach going forward, I've pretty much been put in charge of everything (including the accountant stuff :oops:). Her only question is "will it affect my current lifestyle?". As long as the answer is no she basically goes "I support you" and that'll be it
     
    Befuddled, 21st Mar, 2016
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  18. bob shovel

    bob shovel Well-Known Member

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    My wife just bought her first ip, I showed her the photos of it after the auction!
     
    bob shovel, 21st Mar, 2016
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  19. Sackie

    Sackie Well-Known Member

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    That's th
    That's the way :D
     
    Sackie, 21st Mar, 2016
    #19
  20. Adele

    Adele Well-Known Member

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    Partner's role: Delegate everything to me.:rolleyes:
     
    Adele, 21st Mar, 2016
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