Investors Mums

[Robbiep]

Hi All,

This thread is aimed at mum investors who are pationate about property investing or guys who have pursuaded their partners to share their passion

My wife owns a few properties back home in South Africa, but this was merely because i found a few good deals which she financed (as i was over-0exposed). Although she owns these properties, she isnt really intersted in investing of isnt excited about the benefits (long and short term) as i am.

She will always support me, but it would be great if we could share the same passion (around property investing) together.

Are there any recommeded books, written by woman and aim towards woman, which you could anyone could recommend?

My wife works full time and we have 2 kids. My wife would really love to work from home and be able to spend more time with the kids, so perhaps a book written by woman, for woman, which highlights a womans needs would be more beneficial as a guys needs tend to be slightly different.

With Christmans coming up, a book for my wife would be a good idea for a present

Look forward to hearing from you.

Regards,
Robbie

 

[Peter_Tersteeg]

Take a look at books written by Jan Somers. They're in every decent book store and you can also find out more by visiting www.somersoft.com.au.

 

[Robbiep]

Thanks i did think of Jan Somers, but are you aware of any her books which are more tailored towards woman?

 

[Robbiep]

I came across this book:

Rich Woman: by Kim Kiyosaki

Of course it was the Rich Dad Poor Dad book i read many years ago which got me so passionate about property.

Any ladies read Rich Woman or can recommend any other books written by woman for woman?

 

[kathryn d]

What is she passionate about?

If I remember correctly, you buy these properties sight unseen? Hard to get passionale about something you don't even get to see..IMO.

Does she need to work for financial reasons, or because she wants to?
Maybe if her plate wasn't so full, she would have time to be passionate about investing?

 

[Robbiep]

Well at the moment she loves spendign time with our daughter, 18 months, and is really keen to expand the family.

She is working for financial reasons and would love to break free from the 9-5 to be able to spend more time with the family, by working from home, being her own boss and doing what she loves doing (which she isnt sure of yet).

Yup, most of the properties we bought have been unseen. Its the figures which excite me, not the physically appearance of a property.

To me, buying a property 75% below market value which is producing a positive income every month is more exciting the buying flash looking property which is negatively geared, which is draining your finances.

Back to books..

Sometimes all you need is a good book which triggers off a new mind set and changes your life forever, which was the case for me.

Anyone else with suggested books?

I found another one:

Property is a Girl's Best Friend by Propertywoman.com

 

[JWR]

Hi Robbie,

How do you find them 75% BMV?

Have you found any in Australia like this?

 

[Robbiep]

Hi,

I dont want to really deviate from the main thread, so feel free to PM me.

Regards,
Robbie

 

[kathryn d]

Hi,

I dont want to really deviate from the main thread, so feel free to PM me.

Regards,
Robbie

When you have been at SS longer, you will find we deviate a lot

 

[Robbiep]

Ok ill try keep this one short.. I currently own a few units in a sectional scheme (strata), so i know the market value. There were a few financial issues with the building, so i contacted the body corporate (guys who managed the scheme) to find out why the building was experiening financial issues. They mentioned a few owners had fallen behind in their levys (strata fees). I sent a letter to all the owners in the building asking if they wanted to sell. One lady in particular did, she had enough of being up to her ears in debt. In the past, she tried selling but a few offers fell through. I offered her 25% of the MV in cash, she gladly accepted, i took the money out my credit card and finalised the deal within a few days and we were book happy with the outcome.

With regards to finding these sort of deals in Australia, i have not been actively looking. I am busy trying to educate myself as much as possible, which is pretty much everything, in terms how things are done here in Australia.

When I am close to being in a position to take advantage of these kids of deals, i will actively start looking.


Any other book recomendatons?

 

[sanj]

Are there any recommeded books, written by woman and aim towards woman, which you could anyone could recommend?

Thanks i did think of Jan Somers, but are you aware of any her books which are more tailored towards woman?

Any ladies read Rich Woman or can recommend any other books written by woman for woman?

Anyone else with suggested books?

Any other book recomendatons?

im a bit confused, what is it you're asking here?

 

[Robbiep]

Property Investing books aimed at getting woman excited about investing property

 

[chilliblue]

If I remember correctly, you buy these properties sight unseen? Hard to get passionale about something you don't even get to see..IMO.
QUOTE]

I agree. Why push her into something she is not keen on?

Leave her be and let her do what she wants to do. How would you feel if she wanted to change your passions away from property?

 

[kathryn d]

Do have an employed income outside of investing?
Are you implying your wife wants to stop investing...thus your wanting to motivate her?


Many times, only one in a family is the passionate one. The other just follows along and sign their name
As long as she hasn't said "no more,that's enough" you can basically call all the shots.

 

[Robbiep]

I have never pushed anyone into doing something they dont want to do, that includes my family.

Before i was passionate about property, i had no idea of the benefits of it. When i was made aware of the benefits, it created excitment, which made me take an interest and take action.

No one pushed me or forced me to read that very first book, they merely suggested it to me.

Prior to reading that book i knew nothign about property or had no interest in it.

I think you get my point

 

[Robbiep]

Hi Kathryn,

Yes, we both full time employees. Before moving to Australia I was a few years away from being financially independent, but we decided to move to Australia.

Obviously with the exchange rate (R8 to 1AUD), although we would be financially free in South Afrca, this would not be possible in Australia based on the income from our portfolio when converted to AUD.

My wife has also been the one who just signs here and there, and she is quite happy to do it, but i would be nice if she was also excited about it.

Two heads are better than one

 

[wylie]

Then why not buy one of the books already mentioned, let her read it (if she wants to ) and see what happens.

If it doesn't fire her up, perhaps you just have to accept that.

Reading a book about football will never give me a passion for it .

 

[Robbiep]

Wylie, thats the plan, no pressure at all from my side.

Although reading about property (or football) might not fire her up initially, when you start to realise the benefits, this is where the passion starts to develop.

My wife would love to stay at home with the kids or work from home, she is just looking for something which will make this happen.

This will never happen for her if she carries on working for someone who requires her to be in the office 9-5.

 

[Dazz]

As suggested previously, I reckon one of the earlier Jan Somers books would be good. She was an ex-Maths teacher with littlies around her, and sort of just got going.


Although, it appears from reading that Jan's passion was already there, and it is the thing you are trying to encourage.


I found it very difficult and resigned myself to the fact that my wife has far better things to do than carry on with properties. It provides the funds but it bores her stupid. A round of golf or a typical mother's chat is far more engrossing for her.


Some people (most actually) just aren't interested in tax laws, finance restrictions and bank policy....can't blame them really.


I reckon it would be a very rare thing indeed that both partners are wildly interested in investing. In some cases, one partner takes the lead....and in most cases I bet both partners couldn't give a rats.


Count yourself lucky that you have at least 1 in the "team" that is interested.

 

[wylie]

My wife would love to stay at home with the kids or work from home, she is just looking for something which will make this happen.

This will never happen for her if she carries on working for someone who requires her to be in the office 9-5.

I understand your thoughts, but are you hoping that by her getting fired up about investing, that the investing will replace her 9-5 income?

Surely that would take several years, unless you can buy cashflow (very) positive to replace at least some of her income, and meanwhile the kids are getting older.

I worked full time for two years after our first baby (mum minded him while I worked). After our second child I stayed home until this year (second baby is will be 20 in a month).

It was hard, we didn't have much spare cash (none, in fact) but we kept the rental house we already had.

I planned to return to work when the youngest went to school, but by then I wanted some "me" time so I didn't.

We would be so much further ahead financially had I returned to work but I had time to be with the kids, spend time at school in the classroom helping out, doing tuckshop etc. And then I had years of doing what I wanted.

Now hubby has stopped working (at 50) and I am working a few days a week as a casual, and enjoying it. He is having his "me" time.

Having more houses now would not replace the time I had with the kids. That doesn't mean I think it is wrong for women to work. What I think is wrong (or at least a real shame) is when a woman (or a man) is forced to do what he/she doesn't want to do.

Maybe your wife should just take some time now, if you can manage without her salary. Little kids don't cost a lot, certainly not as much as when they hit the school years.

Could she do an Avon "run", not parties, but letterbox dropping and selling. My SIL does this and could make good money if she was more sensible about it (long story). What about book-keeping for a local electrician or plumber from home, paid hourly, sending out accounts and checking payments.

I imagine this stuff will not replace the 9-5 income but then that is not the aim.