Partners that dislike properties

In my travels i have meet a surprising number of couples (incl myself) that one likes properties/investments and one does not.
I now wonder if both enjoy the purchase of properties whether the portfolio would be substantially larger and a lot more successful. ....
Comments ???

 

Depends on their income

 

The ones who 'don't like' investing simply do not understand the reality of what they are doing by not doing . I have heard from many, many people in their 50s and 60s who regret not doing a lot more when they were younger and had the ability to.

Personally I tend to believe that if the other partner is not so much interested but completely supports the interested party then all is good. It's when they actively oppose the investing party to keep investing where things can go downhill fast and creating wealth becomes limited. I've heard similar from a handful of ppl in this situation over the years.

 

Well I bet they like the benefits if it is working well.

 

Partners 'not liking properties' could be related to a number of things:

- Stress of living with a lot of financial risk (concerns about what happens to the family if it all goes wrong)

- IP-loving partner giving more attention and quality time to 'the deal' rather than the family.

- Differences in value about money and it's place in life.

- IP-loving partner putting their own preferences first because that is the only way they see to gain money ('But I'm doing it for you' - doesn't really cut it if there is no genuine communication and agreement)

- Spending habits and other money issues are a really common cause of conflict in couples and families so I'm not surprised when couples disagree.

 

I am going through this now, have a little bit of money $150,000 - $ 180,000, wife wants to pay it off our mortgage which would halve it. I would like to use it to split as deposits on 2 or 3 investment properties... Compromise might be one..... but then she wants to put a lot in to make sure its cash flow positive as its not a drain on our income..

 

Compromise is the winner - pay down the non-deductible debt (she wins), redraw it as a separate loan/s for the IPs (deductible debt/you win).

 

Hmmm my partner makes more money than I do and she is risk adverse. I think if she had the investing mentality, the sky is the limit! I do appreciate that time is the greatest gift you can give anyone, so if it means scaling back and spending quality time, it's so important.

 

Jeez @Leo2413 looking fighting fit in that profile pic of yours above, your new years' gym resolution is achieving rapid results ! Posting below so others can see as I know you change your profile pic often.

 

This is what I want to do but my partner won't let me!!!! Grrrrr.....

 

heheh the steroids recommended at the gym did the trick..

 

My wife likes looking at and "picking" houses with me. She doesn't want anything to do with the house after that, so I don't know where that fits into the the spectrum or (dis)like of properties.

 

And I think that looks like Causeway Bay (Tongluo Wan) in Hong Kong. Is that right @Leo2413 ?

 

Spot on.

 

Yep!. When we started my husband was not interested at all. He just signed the papers. When I wanted to buy a nicotine ridden very rundown house that we would renovate (he's quite handy) he was instantly interested. He drew up a reno cost analysis and we bought it and did a full 5 week reno. We found a good way to increase equity fast (I'm happy) and he likes doing reno's (he's happy). We kept doing that. He even looked on the net for a house to reno once.
After we had a little collection I would have been happy to buy more but he said I was "going crazy" buying houses so we stopped. It's hard having to make all the decisions yourself but I was lucky that he let me take control.
I do all the paperwork, and organise loan changes, keep tabs on accounts, contact agents etc.
He does any breakdowns on the Sydney ones.
We had an argument once because he complained about why he ALWAYS has to do it (when he had to fix a leaking tap), saying it was "your idea to buy the stupid properties".
I explained to him that driving to a property once every 6-12 months was nothing compared to my weekly paperwork.
I then explained that I was happy for him to sign the "stupid houses" over to me so I could take the million dollars and retire and he could go on the pension.
He wasn't complaining when he was able to retire at 60 (3 years ago). I just retired last year at 58. We didn't start until 8 years ago.

 

If your spouse does not agree it does not happen.

The starting point here is to determine what you want your retirement goals to be. If you cannot agree on that you will not agree on other financial investments.

 

Or it happens but it happens slower. Which could mean you make more sound investments/less frivolous ones as you need to be more careful in purchases. At the same time you can lose great opportunities. I know this....

 

It works both ways....

I wanted to buy a few IPs earlier. My partner said no way.

All those ips would have been duds.

We ended up waiting and getting something much better for the same money.

Sometimes the risk averse partner can help avoid mistakes.

 

I

I don't think you will ever live that one down.

 

Ha! Nope! And boy am I happy about that.