Partner's (non) Interest

[nats12]

we are the same. i will go and inspect 50+ properties and of those my husband might see 5 of them. He won't bother coming unless I think it's worth a second look. I do all the dealings with agents, banks, councils, builders or whatever is required and hubby manages the budget, all reno work and qualifying financials on properties.

but we both must sign off on it if we're going to purchase.

it works very well though. we both like the aspects that we're responsible for.

 

[Jase H]

I don't think it is unusual at all. Think of hubby as a silent partner in a successful business!


Jase

 

[1974Angela]

Hi Angela, I can totally relate to you and others here "doing it alone"!
I just show my hubby where to sign and he does - makes it easy but sometimes you would just like some feedback. On the other hand when you do start to explain the details they can be so lost that their input is not helpful anyway, just makes you more confused, it is hard when you are on different points of the learning curve.
However I must say after 14 years together I must be getting through - I asked hubby what his new years resolution was - expecting him to say something along the lines of "new mags for the ute" - only to hear him reply "I am going to buy 2 investment properties every year until I retire" - WELL YOU COULD HAVE KNOCKED ME DOWN WITH A FEATHER - you think they arent paying any attention, but they are!
Good Luck, Angela.

 

[fernfurn]

I had to laugh at your post cgw, it bought back memories of when a girlfriend was buying a house and asked me along for my experience. She walked too slow and drove me mad, but I (happily single at the time) talked too much to the RE agent and ended up in a very passionate 7mths affair. The worst flipside to a disinterested partner is another girlfriends partner who comes along and whines negatively about everything, then takes the credit to everyone if it goes right, or alternatively says "I told you so" if it doesnt work out well.

 

[tory]

Hi angela,
yes i am in exactly the same situation we have just bought our 1st ip (or should i say I ) i did all the research arranged building and pest inspections i did everything it was very stressful being our 1st ip. All my husband did was sign on the dotted line, he says you do what you have to do and i will just sign for it. It would be nice to have someone to bounce ideas off of, but when i need that i jump onto this forum it is great. I think my husband will get more excited as we go along i hope.

good luck
tory

 

[Pandabites]

Hi Angela

Am in a similar position to many who have already responded. I do the research, paperwork, organise finance etc...and he just happily signs where I tell him to. I show him photos of the properties (as we are overseas investors at the moment) and get his okay on them, then go ahead. He has already seen the benefits of property investment over the longer term, plus the benefits of a psuedo-LOE strategy as we are still building towards that, so trusts me to do the right thing (something that several have mentioned as a bonus in the investing journey and I certainly agree).

Like Alexlee, I had already started investing before we met, so am just continuing on a path that was already in my plans - he now just happens to be a part of it. And as he is very handy, will be good for cosmetic renovations and the like when we eventually get back to Australia: I think of that as his contribution to the investment process. So his involvement definitely isn't passive, it will come in time...

Although it's funny when we get all the paperwork from the various bods 'Dear Mr.XXXX, Thankyou for your purchase/application/request etc...' and I'm listed as the 'other'. Gave them to him once as they were addressed to him and he was 'How do I know what to do with these.....?'...I guess banks and other institutions of that ilk are still somewhat old-fashioned

 

[kathryn d]

You are not alone angela, have a look at some of these old threads.

http://www.somersoft.com/forums/showthread.php?t=31017

http://www.somersoft.com/forums/showthread.php?t=23294

http://www.somersoft.com/forums/showthread.php?t=14774


Ruby

I'm the middle thread.
Wow, have things changed since I started that thread.
Rob and I work very much as a team now. I pick the properties I think will be money makers. Rob inspects them for structure.
I deal with the finance, and he makes/organizes repairs.

 

[LouiseMc]

Same here too! I love looking at houses, Home Base expo etc etc. Not hubby. He would rather have his nails pulled by pliers. Having said that he would gladly lift, build, shift, create anything I would like, so long as he never has to go shopping.

Can I ask you why your units are not in your name too?

 

[angela]

Hi Louise (lovely name, I have a daughter named Louise)

the reason the units are in his name, is because when we bought them, I was a stay at home mum, and had no intentions of ever returning to work, so for tax purposes they went in his name only.
A few more years at home, with both kids at school, I started to get bored, and decided to return to work. So the house which I have under contract at the moment, is in my name only on the contract, but we need both names on the finance application. This way we have one in each name.
The next one (and subsequent ones) will be in both names

 

[silene101]

My husband likes to be part of the decision process initially however, he's happy to leave all the paperwork, crunching the numbers etc to me.

He trusts me implicitly, which is wonderful but its a huge responsibility which I worry about stuffing up.

The details bore him and when his eyes start glazing over its time to pull back.
My enthusiasm drove him crazy in our first years of investing!

He likes what we have done so far and every now and then asks how we're 'doing' to which I reply 'Good'.

Silene101