It has always amazed me how some husbands let their wives dictate these and other financial decisions with COMPLETE authority.
Now before I get ahead of myself…I KNOW there are women out there who enjoy risk taking and are incredible investors and actually PUSH their husbands to invest. But it is AMAZING how popular culture depicts American MEN as bumbling IDIOTS…Without exception every sit com on TV from the Honeymooners to Roseanne has used this set up for DECADES. The wife has the brains, and the husand is just a dope that NEEDS the woman to keep him from destroying their lives.
I see this ALL THE TIME with new real estate investors. The husband is gun ho, ready to roll, but gets pulled back or DENIED even the CHANCE to invest because his wife will not even LISTEN to the idea.
Instead these people make the CLASSIC home buyers SCREW UP.
THEY FALL IN LOVE WITH A HOUSE!!!
We’ve all seen it…It’s usually a home that either costs TOO MUCH or is CHEAP but has ABSOLUTELY NO POTENTIAL…You guy’s know what I’m talking about…The house that’s too small and the new “owners” spend TOO MUCH on it. Thus creating the most expensive SMALL HOUSE in the neighborhood that they’re now BURIED IN. At that point they can’t SAVE money to invest or take out EQUITY to do so…They are literally SHUT DOWN…They don’t OWN that home…That HOME…OWNS THEM. And it COULD have been MUCH, MUCH different.
I’ve seen guys find GREAT DEALS on homes but get SHUT DOWN by their wife because…
“If it’s such a great deal why didn’t someone else buy it and make money on it.”
:banghead :banghead :banghead :banghead :banghead
Of coarse these homes are usually filled with rotting food, have UGLY interiors and exteriors, and are by no means a DREAM HOUSE…BUT…They are MONEY MAKERS!!!
Don’t get me wrong here…There are guys that WOULD DESTROY everything by investing because they don’t know what they’re doing…BUT
When did the AMERICAN MAN completely lose his b@lls???
In the end these GUY’S are at fault, not their wives. They didn’t take the TIME to develope the IDEA of investing with their wife. I see this all the time. I tell new Real Estate investors this…
You’ve got ONE SHOT to do this right…You screw up your first home purchase??? It will take you DECADES to dig out…You do it RIGHT???
And it will take you only ONE DECADE to pay off your MORTGAGE COMPLETELY…
YOU PICK!!!